Is your property investment turning into an energy vampire?
While it's often called a passive income, real estate investing can be a full-time job and rob you of the time that you have so carefully carved out for yourself. Between tenant issues, maintenance, leases, and those untimely emergencies, you may find yourself time-poor and frustrated.
Perhaps you've considered hiring a property management company to help, but you're not sure what to expect? You may be surprised to learn how much time, effort, and money the right property managers can save you once you hand over the day-to-day running of your investment.
Let's examine the bevy of benefits property management companies offer.
The critical task of tenant screening ensures only qualified tenants are accepted into your property. Yes, you can screen tenants yourself. But property management companies have access to a pool of qualified renters, and loads of experience in this area.
They are more likely to find the best tenant for your property Faster.
Maintenance and Emergencies
Another benefit property managers offer is the ability to quickly deal with emergencies. A broken water heater or overflowing toilet needs seeing to immediately.
When you're faced with an emergency it can be incredibly stressful to find someone qualified and available to fix your problem. Wouldn't it be great to have a team of contractors on-call who are ready to jump into action whenever you need them?
Are you too busy with other aspects of life or simply lack the knowledge to oversee your property maintenance? The when and how of effective maintenance escapes many people.
Property management companies have the expertise to ensure your investment is in peak condition at all times. They will find reliable contractors for any repair work and understand exactly how to keep on top of the essential ongoing tasks.
In the property management world, legal matters are a part of everyday life. Dealing with a team well-versed in property laws and how they apply to your circumstances takes a weight off your mind.
From avoiding costly legal mistakes, fines, and lawsuits to arranging eviction protection, the right company will handle everything.
When looking for new tenants, you don't want to worry about posting ads and taking pictures plus managing viewings and red tape.
A good management team knows how important it is for your investment to be visible and desirable. They know where and how to position ads for the best response, and easily fast-track the paperwork.
Rent collection can be the biggest headache for a real estate investor!
When you choose to work with a reliable company, however, they will handle the rent collection on your behalf so it's never late or missed. Offering a variety of payment options is a sure-fire way to ensure timely payments; something that individuals may not be able to arrange.
Why Hire a Property Management Company?
Real estate investing is a smart choice, but can become a black hole of time and money. If you have no other responsibilities that require your time and attention, then go the DIY route.
But, if you prefer to save time and energy by handing over the tasks of maintaining, letting, and managing your property, then a property management company right here in Salt Lake City is your best option.
We're sure you have questions, and our team is ready to assist you in any way we can. Please get in touch.