5 Ways You Can Expect Your Property Management To Help You Protect Your Investment
At first glance, owning a rental property sounds almost too good to be true; what could be easier than collecting a check every month? Well, it may be true that your rental property has the potential to provide you with a steady source of comfortable income, but being a landlord is a bit more involved than sitting back and waiting for that next rent payment.
And whether you’re renting out one small home or an entire apartment building, you may need an extra set of hands from time to time when it comes to maintaining your investment property.
Here Are 5 Ways The Best Property Management Help Real Estate Investors Like You:
1. Providing 24-Hour Support From A Dedicated Team
Perhaps the biggest benefit of all when working with the right property management company is knowing that you have a dedicated team of professionals available to you at all times. If you need help marketing a vacant unit, repairing damage to your property, or following up with a tenant’s complaint, your property manager should provide you with friendly contacts you can rely on for assistance.
2. Completing Property Inspections
In addition to annual safety inspections, the best property managers will also perform thorough inspections as each tenant moves out, to ensure any issues with the property can be taken care of in a timely manner.
Aside from simply carrying out these inspections, your property manager should also document each visit and include detailed notes describing the inspection process. In the event that there is damage to the home or rental unit, your property manager should notify you immediately so you can discuss how to handle repairs.
3. Finding And Screening Qualified Tenants
It goes without saying that the longer it takes you to find the right tenant, the longer you’ll wait to start earning a return on your property. Alternatively, rushing through the tenant-screening process could yield even worse results if you end up renting to someone who neglects the property or is uncapable of making rent payments.
You may be surprised to learn that the process of marketing a rental property and screening tenants is quite overwhelming for even the most experienced landlords. The best way to save time and money is to outsource this step to a reliable property manager with an efficient tenant application process. In doing this, you’ll enjoy peace of mind knowing that you have qualified professionals working diligently to find a great tenant in the shortest time possible.
4. Handling Property Maintenance And Care
Even the most handy tenant won’t be able (or willing) to tackle every maintenance task. Ultimately, it’s up to you as the owner to ensure your rental property is safe and habitable.
You should be able to trust your property manager to stay on top of routine maintenance tasks like cleaning the gutters, mowing the lawn, and tending to the HVAC system, among other responsibilities.
5. Providing Regular Monthly Reports And Updates
On top of collecting rent payments and maintaining your buildings, the best property managers will make sure to communicate with you on a regular basis.
You property manager should provide you with detailed monthly reports outlining the specific services they’ve provided, as well as any other relevant information about your investment property. If you are currently working with a property manager who does not provide this information, you should reach out to request written documentation about the ongoing services being provided.
Do You Need Help Managing An Investment Property In The Bay Area?
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