Top 6 Reasons Why You Should Work With A Property Management Group!
Investing in a rental property can be an excellent source of additional income, contributing to both monthly and long-term wealth. That said, the actual day-to-day responsibilities that come with managing a property are typically more than the average person is prepared for; what’s more, by hiring a professional, you not only save time and eliminate hassle, but also potentially increase value and profit. There’s a reason why so many real estate investors opt to work with a property manager – in fact, there are many!
Here are our top 6 reasons why you should work with a property management group:
1. Maintenance and Repairs – Hiring a property management group gives you access to professional maintenance , and typically at better costs than you would get on your own. Enjoy peace of mind with trustworthy, licensed, insured contractors – quality work, good pricing, all without you having to lift a finger. In addition to repairs that may be needed, a property manager also performs routine maintenance, which can prevent smaller issues from leading to larger, more expensive repairs. What’s more, your property manager can also offer feedback and make suggestions on modifications that will save you money down the line, help you appeal to tenants, or otherwise be of benefit.
2. High-Quality Tenants – Property managers know how to find and properly screen the best tenants. Rather than having to settle for the first person who shows an interest in your property, or worse yet, falling victim to bad tenants or even scams, your property manager vets prospective tenants through a reliable screening process. They weed out red flags and help you get tenants who are more likely to pay their rent on time, minimize wear and tear of your property, rent long-term, and overall cause fewer issues.
3. Avoid Dealing with Legal Problems & Evictions – A high-quality property management company is current on the ever-changing world of landlord-tenant law. This includes everything from signing and terminating leases, evictions, safety issues, and tenant screenings to discrimination, property inspections, and collecting and handling rent and security deposits. This is a lot of ground to cover, and can be quite tedious and even cost you money if you aren’t up to speed on current regulations and laws. In particular, evictions can be a huge headache; a skilled property manager is able to handle any potential eviction quickly and efficiently – and in compliance with state regulations.
4. Shorter Periods of Vacancy – One of the benefits of having a property manager is that they can help you minimize the time that your property is vacant. This not only increases your income but also can save you time and money on repairs and upkeep. From marketing to determining the optimal rental rate, to preparing your property for rent, your property manager uses their expertise to minimize stress and maximum profit.
5. More Money – Property management companies have the technology and resources to make payment processing as efficient as possible. Get your money quickly, efficiently, and reliably. This includes not only the collection of rent but late fees as well – all without you having to be the bad guy.
6. Freedom and Ease – No wakeup calls for repairs. No having to keep an eye on your property. No having to track down rent payments. No having to be the bad guy. Just sit back, relax, and cash the checks while your property manager takes care of the details.
Add value, save money, and eliminate stress and hassle with O’Brien Property Management for your investment property. Contact us to learn more!