Real Estate AdviceAug 01, 2020 08:12PM ● By Pete Sabine
Real Estate Advice
The Advantages of Professional Property Management
By Pete Sabine
Being a landlord requires effort and dedication. If you live far away from your rental property or have other personal commitments, hiring a property management company is a good option. Some of the benefits of hiring professional property management services include:
Finding High Quality Tenants
The biggest challenge for most landlords is to find responsible tenants for their rental homes. This ensures timely payment of rent, proper maintenance of the home and fewer problems during the tenancy period. Professional property managers have defined criteria for screening applicants and selecting the most suitable occupant for your property. Experience in scrutinizing thousands of rental applications will extract the facts and identify warning signs. In-depth research about the tenant’s background, employment, rental records, income, criminal history, previous rental experiences ensures that you are renting your property to the best qualified tenant.
Effective Property Advertising
A property manager uses the most effective resources to market your property to a large pool of prospective tenants. Posting high quality photos and virtual tours of the home will help to set your property apart from the competition. Property managers will offer effective staging tips and evaluate the condition of your home to recommend improvements that will increase its appeal and rental value.
Strict Rent Collection Process
Collecting timely rent every month is important to ensure a consistent cash flow. When you work with a property management company, you can be assured they will collect the rent on time and deposit it into your bank account. They demand that tenants follow the lease terms and pay the rent by the due date. In case of delays, they know the proper and legal ways to deal with the situation.
Property Maintenance and Repairs
Performing maintenance and repair tasks on time not only ensures a comfortable stay for the tenants, but also retains the value of your investment property. By hiring professional property management services, they are able to outsource the task to licensed and qualified contractors. The property manager will conduct regular inspections of the rental home to identify and repair any potential issues before they pose larger and more costly problems.
Better Tenant Retention
Property managers act as a point of contact between the landlord and tenants. When all the maintenance issues are addressed timely, tenants are less likely to look for another place to live.
This, in turn, will lead to shorter vacancy cycles for your rental home. You will also be saved from all the efforts of finding and screening new tenants, marketing, arranging visits, re-painting the home etc.
A property manager has in-depth knowledge of the tenant-landlord laws and the property manager will ensure that the process is carried out in a legal manner, saving you from exposure to costly litigation.
Contact us to discuss your options for property management of your rental property. We are affiliated with a local professional property management company and we can relieve you of the burden and hassle of managing your income investment properties. Call or text 925.297.5335. Pete Sabine & Leslie Whitney. Compass #01866771