10 Reasons You Should Hire A Property Manager
Hiring a Property Management Company to manage your rental property has a lot of advantages. Consider these ten reasons before you make a decision.
1) Maximize Your Income
Your primary goal, and that of your Property Manager, is to maximize the profitability of your rental property while maintaining the value of your property over the long term. The best Property Managers implement policies, procedures and practices that successfully achieve these goals for investors and rental property owners.
2) Maintenance Emergencies
Your Property Management Company is on call 24 hours per day. While you rest peacefully your Property Manager is watching over your investment property; ready to employ the resources necessary to handle any maintenance emergency that may arise.
3) Rental Advertising
When you hire a Property Management Company you are tapping into a large pool of prospective tenants. Your rental property is listed for rent on dozens of rental websites. Your Property Manager answers and responds to phone calls and emails on a daily basis so you don't have to.
4) Tenant Screening
Your Property Management Company makes rental applications available to prospective tenants who want to apply to rent your property. Your Property Manager will screen all applicants to ensure only qualified tenants are approved.
5) Rental Agreements
Rental Agreements are reviewed and signed by your Property Manager, with no extra work on your part. An effective Rental Agreement covers a wide array of terms and conditions designed to protect you and your rental property.
6) Inspections
Your Property Manager will complete a visual move-in inspection and take photos of your property before tenants move in. When tenants move out of your property the process is repeated. Thoroughly documenting the condition of your property is an often overlooked yet crucial step in the renting process.
7) Rent Collection
Your rents are collected by your Property Manager each month and deposited into a FDIC insured bank account. You receive a check in the mail or an electronic bank deposit each month. No more trips to your property to collect rents.
8) Financial Reporting
Your Property Management Company will send you an owner statement each month so you can keep track of income and expenses for your property. Every January you will receive a cash flow report and a corresponding tax form. In general, your Property Manager can provide you with a variety of reports to assist you in making important property related decisions.
9) Education
An experienced Property Manager is educated on fair housing laws, civil code, health & safety code and other important laws impacting rental housing in the state of California. When you hire a Property Manager you have a wealth of knowledge on your side.
10) Evictions
You are less likely to end up in eviction court when an experienced Property Management Company is overseeing your rental property. Navigating the eviction process is complicated and time consuming. If the need to carry out an eviction arises your property manager can coordinate the entire process for you from beginning to end.
To learn more about the benefits of hiring a property management company contact one of our experienced Property Managers.
