10 Reasons to Hire a Professional Property Manager

By Rentwell

1. We can help you set the best rental rates. Many landlords charge rental rates based on the numbers they see in the classified ads. This can be a decent strategy, but it doesn't compare to the method of conducting a thorough market study. We will find a rental price that ensures that you can achieve a balance between maximizing monthly income and maintaining low vacancy rates.

2. Ensure monthly payments are collected and deposited on time. Securing payments can be a difficult and uncomfortable process. Our efficient, time-tested system will maintain on-time payments with no disrupt in your cash flow.

4. Marketing and advertising for your property are taken care of. You will avoid lengthy vacancies because you'll be working with a team of experts who will create compelling advertising materials for your property.

5. Only reliable tenants will move in. Experienced property managers are experts at finding good tenants, and will take care of all the details, including the securing all criminal background and security checks, running credit reports, verifying employment, and collecting previous landlord references.

6. Tenant management will be under control. In addition to finding good tenants, a property management company will manage all aspects of the tenant-landlord relationship. The property manager will handle both routine and emergency maintenance, take care of routine inspections, and manage any situations where conflict resolution is required.

cleaningguttersresized7. Vendor relationships will be well-managed. A skilled property management company has working relationships with any third party vendor you might need--maintenance workers, tradesmen, contractors, suppliers, and vendors. When you're working independently, it's nearly impossible to duplicate such a network. Not only will your property manager get you the best work for the best price, they'll oversee any necessary maintenance projects.

8. Never doubt your compliance with housing regulations and property laws. A multitude of laws and regulations must be respected when you're managing a property. It's hard to keep track of all the local, state, and federal regulations, not to mention fair housing regulators like the ADA. A property management company will keep you up-to-date on policy changes so you can avoid law suits.

9. You're investments won't be hindered by location. If you manage your own properties, you're pretty much limited to investment opportunities within a tight radius of your own home. By hiring a property manager, you can take advantage of investment deals in any location.

10. Maximize the profitability of your time and money. Property managers will take care of day-to-day duties so you can spend your time identifying further investment opportunities or otherwise furthering your career.  Most property managers charge a percentage of your property's monthly rental rate in exchange for their services. The rate typically runs anywhere from 6-10%, which is generally less than the money you save by hiring a professional to take care of your property.