Whether you are new to property investment or not, managing that property or a whole portfolio of properties can be a challenge. There are important decisions and considerations that you could easily miss because you don’t know everything you need to be aware of. Fortunately, there is help nowadays, in the form of companies that offer professional property management, companies who can help you out.
In the following post we are going to discuss exactly what property management companies do and the benefits you can get from using their services.
What Do Property Management Companies Do?
Property management companies are there to make things easier for you when you are buying investment properties. They will take care of all aspects of the management of your property, including the marketing, prospects and tenants. As if that wasn’t enough, they will also take care of collecting rent for you and handle all repairs and maintenance on your properties and take care of all complaints or concerns your tenants have.
Simply put, if you are interested in owning investment property, but do not feel experienced enough to take on the actual daily activities associated with owning property, a property management company is a great option.
Benefits of Working With a Professional Team
To help you really see the advantages of hiring a property management firm whether you been involved in property ownership for a while or are just getting started, we wanted to highlight some of the more specific benefits of doing so.
Find Good and Reliable Tenants
One of the biggest issues with having investment property that you are renting out is finding high-quality tenants. This requires a lot of time and effort. With the help of an experienced property manager, they will find you ideal tenants based on strict screening criteria. As part of their analysis, they will run checks on the previous rental experiences, rental records, employment and general background of prospective tenants.
Thanks to the experience they have, they will be able to help you quickly determine the best tenants for your property.
Effective and Efficient Property Marketing and Advertising
Again, owing to their experience within the property sector, they can reach a large number of the type of tenants you really want to stay in your property. They know the marketing and advertising techniques and methods that will work best and will list your property on the appropriate platforms to secure interest and prospects. As well as the advertisements, they will also provide virtual tours, high-quality photographs and other materials to help sell the property to prospective tenants.
Rent Payment Management
One of the least fun tasks of owning investment property is rent collection from tenants and chasing them up if they are late. Hiring a professional property management team means that you will not need to worry about collecting rent payments. They will take care of it all and ensure they pay the rent. They will also ensure that tenants are fully compliant with the terms of the rental agreement. When tenants are late at paying rent, for whatever reason, your property manager will take the measures required to find a resolution.
Regular and Timely Repairs and Maintenance
Owing again to their time and experience in the industry, property management companies have established strong business relationships with qualified and licenced contractors and tradesmen. This means when repairs and maintenance jobs are needed they can find the best individuals or teams to complete the work and ensure your property is kept in good condition.
Ensure Tenants Stay In Your Property
A property manager can field and handle all the complaints and issues reported by the tenants. Tenants, like all customers and people using a service, want to know they are valued. They will make sure all of these are responded to and dealt with appropriately to ensure tenants are less likely to leave the property and look elsewhere.
Can Take Care of More Than One Property
It can be hard to keep track of everything happening with a whole portfolio of investment properties, especially if you have other interests or a full-time job that is your main source of income. With the help of an investment property management team, they will take care of all the properties in your portfolio, offering the same services for each.
As you can see many great benefits come from hiring a professional property investment management firm. If you would like to avail yourself of these benefits, why not contact J Bear Properties today.