A property management company takes most if not all of the hassle in renting out a rental home or apartment. Managing your own rental properties is all very well if you have the time, resources, and expertise. What many landlords, especially new landlords, fail to realize is that managing a property is a full-time, multi-faceted occupation where you have to be on top. Many first-time landlords have started off bright, enthusiastic, and optimistic but have soon realized just what it takes and turn to a property management company to look after their rental investment. Amateur landlords find a property management company the perfect solution which enables them to make this real estate investment work.
What many first-time landlords do not appreciate is that there is more to property management than merely advertising a rental condo or home and screening potential tenants. The company has to execute the lease and later collect the rent. During the term of the lease the company is responsible for coordinating repair work and routine maintenance. Most provide 24-hour emergency service and document cash flow statements on a monthly basis.
For their services, property managers charge their clients a fee which typically is a percentage of every monthly rental payment. In addition to the monthly fee, most management companies charge a leasing fee which typically amounts to a month’s rent.
What this means is that depending on the company the property owner might have to pay as much as two months’ rent in the year in exchange for which the property company takes care of the management and all issues arising from it. While at first glance this does appear to be a considerable amount to part with, many landlords reckon that the cost-benefit which accrues from such an arrangement is well worth it. Many landlords might not have the time or the inclination or for that matter the expertise to manage their rental property themselves. This is especially true for landlords who reside some distance away from their rental properties.
All Aspects Marked Off
Rent collection, repairs, and maintenance are the main issues which a property management company faces. Management companies are of tremendous help when it comes to delinquent tenants and the litigation involved in evicting tenants who have fallen behind in rental payments. Since the fees to a company are paid as a percentage of the rental that is collected, a marvelous management company is on top of rent collection.
A Company that Knows this Domain
Talley Properties Inc. is a reputed professional property management company which manages commercial and residential rental properties in the Charlotte region. It has rendered over 30 years of service during which time it has expanded its area of operations to the surrounding counties. This in itself speaks for the success and attributes of the service it provides.
Talley Properties is a full-service management company but remains flexible and will accommodate a property owner who needs only specific services. The company is on call 24 hours a day and prides itself on the swiftness of its response time. The company strives hard to render the best possible service to its clients.