While investing in and leasing property has many advantages, being a landlord presents a variety of challenges. If you don’t have the time, know-how or interest in being a ‘hands-on’ landlord, then hiring a property management company is your best option.
A property manager not only handles the day-to-day tasks that are required of property ownership, but they can also add significant value to your investment. Here are just some of the advantages of hiring a property management company:
They’ll Screen Tenants
An experienced property management company has dealt with thousands of tenant applications and knows how to look for red flags when reviewing paperwork and in face-to-face interviews. Letting your property manager handle the screening process will increase your chances of getting a trouble-free tenant and decrease tenant turnover.
Better Maintenance and Lower Repair Costs
Unless you’re skilled in dealing with a wide variety of maintenance issues, it’s best to leave it up to the professionals. By hiring a property management company, you gain access to their trained maintenance staff, as well as to their network of licensed and insured contractors. Your tenants will be happier, and you’ll preserve the value of your investment.
Better Rent Collection Process
How late payments and rent collections are handled are crucial to your success as a landlord. Collecting rent on time is the only way to ensure consistent cash-flow, and it’s the property manager’s job to ensure that rent is paid or that a tenant is evicted when it isn’t paid.
Fewer Legal Issues
Did you know that there are strict laws regarding the eviction process? A good property manager has knowledge of all the latest laws involving tenants and landlords and won’t leave you vulnerable to potential legal hassles that are expensive and time-consuming. There are not only federal laws that you must follow, but also laws unique to each state and municipality.
If you’re looking for reliable property management services, look no further than Mutual Property Management today!