Keep Your Rentals Running Smoothly with a Property Manager
Renting out property is a great way to create an additional income stream. However, unless you want property management to become your full-time job, you’ll probably need some help to make everything run smoothly.
A property manager can make a big difference, not only for your overall time commitment and peace of mind but also for the profitability of your units.
Here are just a few of the benefits a property manager can provide to help your rentals run more smoothly.
Property Managers Screen Tenants
No one wants a nightmare tenant. From people who deal drugs out of a property to those who destroy it or feel a need to argue and complain about every little thing, this type of tenant makes renting such a hassle that you’ll likely want to quit.
Fortunately, a good property manager will screen tenants carefully. They’ll talk to previous landlords and verify their residential history. A manager can also run a background check to ensure there’s no past (or current!) criminal activity.
Property Managers Handle Rent Payment Issues
Part of screening tenants is to verify their current job, salary, credit rating, and work history. Doing this takes time, but a property manager will take care of it for you. The prescreening should help eliminate most types of payment issues.
That isn’t to say you’re never going to run into a payment problem. Employment situations change, roommates move in and out, and tenants find themselves in new or unexpected circumstances. All of this can result in delays with rent and difficulty collecting it. Without a property manager, you’d have to follow up on each of these details yourself. Fortunately, a manager takes care of these problems as part of their day-to-day work.
If payment problems remain unresolved, they can also handle eviction warnings and legal filings so you don’t have to worry about it.
Property Managers Can Source Repair Professionals
Things are going to break down. It’s unavoidable. Perhaps a water heater needs a repair, or a tree on the property needs to be taken down. If you don’t have a property manager, you might have to spend days or weeks trying to find reliable professionals. You might also need to follow up with them if the job is subpar.
A property manager helps by sourcing repairs as they are needed. They can call around for quotes, check reviews and references, and follow up if something goes wrong. As a result, your tenants will get the help they need quickly, and you won’t have to deal with the stress.
Property Managers Matter!
If you want the management of your rental property kept in shape, you’ll definitely want to have a high-quality property manager. It will make your rental income feel effortless and help keep your tenants happy by giving them someone they can call whenever they need something.
The right property manager will handle issues right away before they become major. You won’t regret hiring a manager for your rental properties.