Professional property management can save you thousands of dollars and untold hours of hassle.
Before I became a professional in the real estate and property management field, I was an engineer and a DIY property property manager. I made mistakes that cost me a lot of time, money and effort. My biggest lesson learned: if you want professional results, you have to hire a professional team and put them in place around you. You just don’t know what you don’t know and that is what will cost you.
The bottom line is that professional property management is worth far more than what you will pay for the service you receive. Here’s why.
Better Tenants and Less Vacancy Time
A great property manager will find high quality tenants for you. When it is time to find new tenants, it is your property manager who places the ads and interviews potential new tenants. The two factors that lower vacancy time are keeping good tenants and finding new ones to replace them with no vacancy time lost. A professional property manager will do both of those things.
They Protect Your Interests
The property manager will keep an eye on your property to make sure the tenants are keeping it clean and in good repair. When maintenance is needed, they will arrange for it to be done and check the results. They also collect the rent and take action when rent isn’t paid on time.
For you, this means that every “i” is dotted and every “t” is crossed, so if a tenant needs to be evicted your insurer will actually pay on any claim. It also means that you don’t have to be the person who collects rents or even talks to tenants. In addition, you don’t have to be woken up at 3am because someone’s toilet is clogged up.
I found it very difficult to be objective, which makes it very difficult to hold the tenants accountable when things don’t go according to plan.
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