The Value of Property Managers
A house is a valuable investment. If you live out of state, or live nearby but are not experienced in real estate, professional property managers can provide the peace of mind you need knowing your property is being well taken care of.
A full-service property manager does much more than collect rent. A full-service firm is capable of marketing homes for rent, selecting qualified renters, executing the lease process, conducting regular maintenance, handling emergencies and providing peace of mind.
Whether a property manager is a licensed real estate sales associate or is affiliated with a real estate broker who does the marketing, finding reputable renters is a primary responsibility. An experienced manager recommends a reasonable listing price based on comparable properties in the general area, lines up qualified renters and conducts thorough background checks to ensure a quality tenant takes possession of your home. A quick turnaround between tenants can save hundreds or thousands of dollars, making the cost of a property manager worth the investment.
A lease is a legal document that must be executed by both the renter and the owner and filed accordingly. Monies are collected and held in escrow as part of executing the lease document. Property managers are familiar with the rules and regulations in the areas of the properties they manage. With attorneys either on staff or available for consultation through the property management company, legal requirements can be verified for a fully executed and binding legal contract.
Regular maintenance keeps homes in good, rentable condition. When regular home maintenance is put off, larger problems occur. An on-staff or on-call handyman can make small repairs quickly, preventing the need for expensive last minute technicians called in a pinch. A property manager can ensure a quick response to a routine service call, preventing it from becoming a high-cost emergency.
In the same way that a seat belt is worn just in case there is an accident, keeping a property manager on hand in the event of an emergency is a smart way to conduct business. From a tenant who is locked out in the middle of the night to a pending natural disaster, during emergency situations stress is directed away from the property owner.
Investment property can be a lucrative source of income and an opportunity to build equity and wealth. Professional property managers are valuable resources for protecting your investments. Whether used for basic services such as screening new tenants or for full-service long-term property management, a good quality property manager provides a service that can not be given a monetary value - peace of mind.