It can be pretty simple to manage one or two properties on your own, however, once your investments start growing it can feel overwhelming trying to keep track of everything by yourself. At this point, you’re probably considering hiring a property manager. Here are a few reasons why this is a good investment.
What is a property manager?
A property manager interacts directly, on your behalf, with applicants and tenants. This includes marketing and advertising your properties, meeting with potential tenants for showings, collecting rent, depositing money, and coordinating repair issues. The best property manager is extremely organized, trustworthy, and able to handle problems independently. They should be the first person tenants go to when they have complaints and will stand by you if there is any kind of legal trouble.
Why Get a Property Manager?
Many property managers will simply take one month’s rent as their flat fee, others will take 4-10% of your total monthly income. With everything they do for you, many property owners find this is a small price to pay to get so much time back to themselves.
They can be much closer to the site
Many times, property owners live far away from their properties, making it hard to respond to emergency needs their tenants may need. Property managers can either live on site or very close by, making it easy for them to fulfill these needs for you. This makes for a 24-7 emergency service your tenants can rely on, making them happier and more satisfied in your property.
They Handle Showings and Applications
Not only do they show your properties to potential tenants, but they can also meet with any inspectors that come around and draw up new leases. They will also screen each of the applicants, doing things such as credit report checks, criminal history background, evictions, etc. They also stay up to date on all licensing requirements, local ordinances, and state and city regulations.
They Save You Time
All of these duties property managers take care of simply equals more time for you. Especially if you have a job outside of these properties, it creates less stress, less traveling, and less responsibilities that you have to worry about.
Who Can I Hire as a Property Manager?
Keyrenter Property Management takes care of all your property management needs. We do everything listed above and more, and have employees located all over the country in almost every major city. You can contact us for a free consultation and market analysis of your rental properties at any time.