8 Reasons to hire a Property Manager

Choosing to hire a property manager can be a difficult decision – especially if you don’t really know what it is they do!

In short, a property manager is there to manage your property on your behalf. They ensure that all the necessary tasks associated with a rental property are taken care of, such as collecting and disbursing rent payments, maintaining the property, and dealing with any tenant issues or complaints.

1. Increased rental income:

A property manager can help you maximize your rental income by setting competitive rental rates in your property’s area as well as ensuring that all rent payments are collected on time.

2. Faster resolution of disputes:

A property manager is trained to handle tenant complaints in a professional manner. This ensures that tenants feel heard and respected – which is beneficial to both owners and tenants while also reducing any unnecessary escalation between tenants and landlords.

3. Lower Tenant turnover:

If everyone in the agreement is constantly feeling heard, having their needs met, and having issues resolved in a timely manner, then there is a much higher chance that tenants will choose to continue with their lease each year. Making it consistently easy for everyone is a key part of a property manager’s role.

4.Reduced legal liability:

A trained and professional property manager can handle all tenant complaints appropriately, and landlords can avoid any potential legal issues that may arise from mishandling or misunderstanding disputes. This creates an environment of trust and respect which is essential in upholding the terms of contracts between tenants and landlords.

5. Improved maintenance and repairs:

Property managers have access to a network of contractors that can resolve any household maintenance issues efficiently. Often property managers have retainer agreements with contractors, resulting in lower maintenance costs overall for the homeowner.

6. Professional marketing of your property

Marketing your property in an attractive way to tenants can improve your leasing opportunities as a homeowner. Typically property managers bring in a professional photographer to showcase your property in the best way possible. Local property managers also have an understanding of the rental market in your area so can help you to set competitive rates.

7. Tenant screening process:

Property managers go through a strict screening process when selecting tenants. This includes credit and background checks, as well as employment history verifications and rental references. They also understand the importance of finding the right tenant for your property, ensuring that the tenant will be able to meet the requirements set out in the lease agreement.

8. Buffer between tenants and landlords:

Property managers are the buffer between tenants and landlords, providing a reliable point of contact for both parties. They handle tenant inquiries and maintenance requests and monitor tenant compliance with the rental agreement. They also ensure that all legal requirements are met and handle any disputes or conflicts that may arise between tenants and landlords.

Property managers also provide valuable advice to landlords about investment opportunities, financial planning, and rental market trends. They are there to make life easy for you and to ensure that your investment property does not become any more stressful or time-consuming than it needs to be.
That way – you get to focus on what’s really important to you!

Get a free, no-obligation rental appraisal for your property here!