Whether you’re already the proud owner of a rental property or you’re looking to get started investing in the housing market, you’ve probably come across the concept of hiring a property manager. Maybe you dismissed the idea, thinking, “Why would I pay someone else when I can do this on my own?” That’s a valid perspective with sound logic, but the reality is that property managers can be a terrific asset to your investment portfolio. They can lend their expertise in areas that are confusing or time-consuming, and they can help you do things that might otherwise be difficult or impossible without their assistance. But what exactly does a proper manager do? Read on for a list of 5 ways property managers can help property owners.
- Remote Investments. This is particularly useful for those looking to invest in rental properties outside their immediate geographical location. A property manger can act almost like a stand-in, keeping you updated and informed on a property that is in another area. A good property manager will also supply landlords with their personal store of local insider knowledge, including neighborhood recommendations, weather patterns, and red flags to avoid.
- Property managers are often placed in charge of marketing available spaces. Taking pictures, writing descriptions, and fielding phone calls and emails from interested parties are all part of the job.
- Maintaining a clean and safe place of residence is a critical part of being a landlord. Unfortunately, a landlord has a lot of responsibility, and one may not be able to respond to maintenance requests as quickly as their tenants would like. This is where the property manager comes in. They can field maintenance requests and tend to any emergencies that may arise in the landlord’s absence.
- Tenant Screening. Screening potential tenants can be tedious and time-consuming. Hire a property manager to do it for you! A professional is likely to be more experienced and more efficient at the process anyway, so why not let them take over?
- Rent Collection. When it comes time for rent collection, many landlords drag their feet in dread. While it may not be the most pleasant process, especially for those who are delinquent and need to be coerced, it is necessary to run a successful and profitable business. Fortunately, a property manager can do that for you! Let them take care of collecting rent and late fees from your tenants.
If you were on the fence about property managers before, perhaps we’ve persuaded you to give it further consideration. Here at Talley Properties, Charlotte’s best property management, we aim to help our clients keep costs down while still reaching their objectives. Contact us to learn more!
