Managing a rental property comes with a lot of work and responsibility. But using residential property management services can be a game changer if you’re a private owner or landlord.
Here are the top 5 reasons why people decide to use a property management company:
No. 1 – To Find Excellent Tenants
A landlord’s worst nightmare is having unruly tenants who don’t pay their rent on time or cause disturbances at the property. But a good screening process can save you from this common downfall. Unfortunately, many private owners fail to do a proper background check and end up paying for it big time in the end.
A rental property management company will use a state-of-the-art screening process on all applicants and you won’t have to worry about a thing. They will find tenants with stellar rental histories, a solid work ethic, and quiet lifestyles.
No. 2 – To Have More Free Time
If you have managed a property by yourself, you understand how time-consuming even one rental house can be. But when you have a residential property management company working on your behalf, you won’t have to worry about spending the time it takes to properly maintain your residence.
This is a great option for landlords who don’t live near their property or don’t have the time needed to dedicate to managing it.
No. 3 – A Higher Tenant Retention Rate
If you have experienced a high turnover rate with your tenants, it might be time to consider other options. A good property management company knows how to look for, and find, long-term tenants.
This will save you time and money on the entire rental process that includes background checks, fresh coats of paint, new carpets and new locks – just to name a few.
No. 4 – Fewer Maintenance Costs
One of the most expensive parts about being a landlord is the repairs and maintenance you must perform on your rental property. However, residential property management services can help you reduce these costs by using their own contractors who are affordable and have been proven to provide quality work.
No. 5 – A Better Quality of Life
While some owners prefer to be hands-on when renting out their property, taking a hands-off approach can end up saving you a lot of time, money and resources that you can put to good use somewhere else.