Finding a property management company can be a beneficial consolation for any landlord or property owner. Here are just a few of the pros of letting a professional manage your rental:
- You don’t have to deal with finding, vetting, and managing tenants
- You have more time to enjoy the fruits of your investment
- You don’t have to live close to your rental property
- You don’t have the stress of the many rental management duties
Here are some basics on why a property management company can be advantageous for you and your situation.
A Solution For the Dirty Work
Managing your own rental property can be an inconvenience, especially if it is not your full time occupation or you do not live in the area of your rental. Property management companies can take the stress off your hands by managing your tenants and property. Whether the home needs repairs or you do not want to deal with the hassle of rent collection, property managers will take the accountability of being a landlord while you still collect the tenant’s rent.
Low Vacancy Rates
Homeowners not only save time, but also money. An owner loses about $250 each week that their property is vacant. Property management companies have a larger market than most individual landlords, so vacancy rates are typically lower. If you want your home to constantly be off the market, property management companies may be the best choice for you. Because the housing market is hot in the summer, homes usually spend less time being vacant and leases end around then – just in time for the next wave of renters.
How to Find the Right Property Manager
Having a quality property manager is one of the most important things when letting other people live in your home. You may want to find some references and check with them in regards to the company. Another important factor is to determine if their cancellation clause is fit for you. If it is, another good question to ask is how they handle property conflict. If both seem suitable, you will be well on your way to finding your next property manager!
Here at DJW Property Management, we want the owner and the tenant to be content with their decisions. Our management services find the most effective way to rent your property so you can maintain a consistent cash inflow. If you would like to learn more about renting or management services, contact us today!