Flipping houses is all the rage right now thanks to shows like Fixer Upper and Flip or Flop. Are you getting in on the gold? Or maybe you're a long-term property investor, keeping tenants in your houses.
If either of these sound like you, you're probably overwhelmed with managing multiple investment properties plus managing everything about your own home. Maybe you've even found yourself lying in bed lately with your mind wandering to questions like "how does property management work?" and "should I invest in one?"
If this sounds familiar, read on to learn the top 4 benefits of hiring a property management company!
They're the Point of Contact
With a property management company, you can kiss the days of constant calls from tenants goodbye. Sure, some tenants are super easygoing, but how often is that your experience? Whether it's constant complaints about tiny issues or something out of your control, like the neighbor's behavior, keeping up with tenants is difficult.
Property management companies take all of that off your hands by standing firmly in between your tenants and you. You'll thank yourself for hiring them when your phone is quiet all day.
Find Better Tenants
Experienced property managers have screened hundreds of tenants for tons of homeowners over the years. They know the red flags of bad tenants way better than you probably do, so it's good to have them in your corner.
A lot of the time, homeowners go with a gut feeling for tenants. You'll still have that capability with a property manager screening your tenants.
They'll handle the step-by-step process and give you a heads up for any potential signs they could be a problem. All you'll have to do is show up and shake their hand.
Keep Your Tenants Longer
The average landlord manages three properties. That's three separate sets of tenant complaints and issues you have to deal with constantly.
Of course you want to do right by your tenants and home by performing regular upkeep on all fronts, but it can be tough to keep up with everything in addition to living the rest of your life at work and home.
When you don't get to that air conditioning fix in a timely manner because you're dealing with a fire on another front, your tenants notice. They want a landlord who's responsive and helpful, and they'll stick around for the one that is.
With a property manager putting out fires, your tenants' complaints will dwindle. That means increased retention rates all around.
Consistent On-Time Rent
Hounding your tenants for rent is a huge headache, and usually comes with a whole slew of excuses you have to sort through. If you have a big heart for this sort of thing, you probably get caught up in your tenants' stories, which leaves your bank account in the lurch.
A property manager is trained to deal with these interpersonal interactions. They know how to manage tenants and their excuses, and can handle evictions if it comes to that.
It also helps that a property manager's fees usually come out of that monthly rent, so you know they're going to make sure it comes in on time.
Find A Property Management Company
If you're ready to take the stress out of managing properties, a property management company can help. Get in touch with us to talk about how we can help lighten your load.