Why Hire a Property Management Firm?
Here are my top 3 reasons why hiring a property management firm might be for you:
- More revenue – Here’s the breakdown:
- Better advertising = shorter vacancy cycles
- Better tenant screening = longer tenancies
- Better rental rate surveys = charging as much rent as possible
- Better rent collection = getting paid on time each month
- Lower costs – Here’s the breakdown:
- Better tenant screening = fewer trips to court and less wear & tear on the unit
- Better preventative maintenance plan = fewer maintenance costs
- Better maintenance and repairs = lower costs and better quality work
- Better understanding of the law = less exposure to lawsuits and court judgments against you
- Less stress and more time
- Its hard to put a dollar amount on the peace of mind afforded by not having to deal with the day to day landlording tasks, especially dealing with tenants. Landlording is definitely not for everyone and if you don’t know what your doing things can ugly pretty quick. Property managers are on call 24/7 for emergencies regardless of the time of day, holidays or vacations. Additionally, many investors are able to spend their time on more profitable activities and are not able to match the efficiencies that full time professional management firms can achieve.
These are all compelling reasons, but they are only applicable when you find a quality property management company. Visit our websites for more information.