Is managing your rentals getting you down?
Hiring a property can help take some of that stress off your shoulders. They'll make sure your portfolio remains well cared for, gets the right tenants and earns its keep. But if you're still on the fence, you might still not realize the extent to which a property manager can help you.
That's where we come in! Keep reading for these top 5 benefits of hiring a property management company today.
1. Boost Your Profits
Your properties can't make you money if no one rents them. The best property management company will assess and find the right tenants.
They'll make sure that the downtime between rentals is as short as possible. This consistency will help boost your profits, keeping that revenue coming in.
Even with all the tools for landlords available there is a skill in finding quality tenants. Your property manager will screen them, check credit scores and reference check.
2. Efficient Rent Collection
Another top reason to hire a property management company is efficient rent collection. They have an incentive to make sure that rent is coming in. In most cases, a manager gets their fee straight from the monthly payment.
If there are issues with a tenant not paying their rent, a management company will know how to move forward. Property managers usually have clear guidelines set out in the lease that detail what happens with late payments.
3. Reduced Maintenance & Repair Bills
It's always best to keep tenants happy with good maintenance and repair. This also benefits you by keeping your asset well preserved and holding its value.
By hiring a property management service you get their network of tradesmen too. They will have the right insurance and licensing, providing quality repair.
You can trust these contractors to do the work for good, trade prices too. They can usually get bulk discounts due to the large number of properties they manage. This can save you a lot of money in the short and long term, compared to finding your own repairmen.
4. Fewer Legal Issues
Every landlord has heard the horror stories of nightmare tenants. A single bad tenant can cause a lot of legal and financial turmoil. Hiring a high-quality property manager will help protect you against this.
They have in-depth knowledge of local, state and federal laws and requirements. These will cover things such as:
- Tenant screening
- Condition of the property and its safety
- Eviction processes
- Property inspections
- Signing and breaking leases
- Holding deposits and handling rent collection
And more. If you avoid only one lawsuit, those savings will be enough to cover that professional's fee. It also saves you a lot of headaches, stress, time and energy.
5. Takes the Stress Out of Renting
The daily duties of property management can be daunting and overwhelming at times. Hiring a professional property management service can take that stress off your shoulders.
Property managers will take care of your property, daily tasks, and collect rents. And you get the peace of mind that your properties are well looked after.
From weekly lawn mowing to writing leases, the property manager has it covered. All you need to do is sit back, relax and wait for that revenue to come rolling in.
Hiring a Property Management Company Made Simple
So, there you have it! Hiring a property management company is one of the best things you can do for yourself. Especially for larger portfolios.
Their expert knowledge comes from years of experience in the industry. They'll deal with challenges every day, and have strict compliance procedures in place. With a network of contacts to make use of, they take the stress out of renting. Your portfolio will run like a well-oiled machine.
If you're in the market for property management services in Oxford MS, contact us today. At Cissell Management Company, we've got the knowledge and experience to meet all your rental management needs.