Are you looking to rent out one of your properties? Whether you are new to this whole ‘being a landlord’ thing or you’ve done it for years, hiring a professional property manager may save you big in time, energy, and money.
If you are like most landlords, you probably have a job aside from being a landlord. Do you really want another one? Property managers dedicate their days to taking care of all the little details that go into managing a property and dealing with tenants, and they do it professionally. Why not take advantage of their expertise?
There are many benefits to hiring a property manager. Here we are rounding up our top 3 reasons why you should hire a property manager.
Everyday your property sits vacant it costs you money. We know the stress this can cause. We also know that the sight of a potential tenant filling in that vacancy can cloud your judgement. In the rush to get a tenant to move in, you might not see clear red flags in a tenant’s screening report, or worse, forget to screen a tenant altogether.
When you hire an experienced property manager, you will be surprised with how he/she could easily spot potential problems. His/her trained eyes, make it easier to notice red flags at an early phase. By doing so, you are able to improve your chances of obtaining a reliable tenant.
#2. A Point Of Contact
Renting out and managing a property on your own can be very daunting. The toilet broke, the A/C is leaking, the neighbor’s dog is barking, the tenant lost his job and needs a few days to make rent… being a landlord means being the go-to person for every issue the tenant has. You already have a full time job, wouldn’t it be better to let someone else handle the issues? Someone who has a reliable team of plumbers, electricians, handymen, and lawyers on speed dial and can help you fix problems while you just wait for an update?
#3. Rent Paid on Time
This is definitely one of the biggest benefits of hiring a property manager. As someone who treats this as a business, you want to make sure that your tenants pay on time. A property manager will chase tenants to ensure that these individuals pay their rent on time. He/she understands that for this business to grow, making sure that payments are paid on time is key.