Top 10 Reasons to Invest in a Property Management Company.
Now how does a property management company actually become an investment that will increase your ROI instead of being a liability and expense? Here are the top ten reasons to hire a reputable property management company to take care of your rental investment.
A professional lease that has been tried thousands of times (sometimes in court), will contain the necessary items and verbiage to protect the landlord and hold the tenant accountable on matters that have been found invaluable to a landlord to include: pets, smoking/damage, notice to vacate, showing process, etc.
Showing coordinators and agents assure that every call and inquiry is answered in a timely manner which will increase your prospective tenant pool which allows for higher possibility of qualified tenant which usually equals less damage and lost rent.
Showing a property while still occupied allows for possibility of less vacant time, but does require managing your schedule, tenants’ schedule and prospective tenants’ schedule which can take up a lot of time if you are handling this on your own. Time is money!
Property Management companies typically have more resources and a larger following as well as market experience. Combine all this will usually equal a higher asking rent.
Industry experience and/or legal team on retainer will save you money on legal advice.
Have you ever handled an eviction? Let the professionals take care of it. It is time consuming and can get messy very quick.
Property Managers have their favorite maintenance vendors on speed dial. Due to the high volume of use, service call and product discounts are common which should be handed down to the homeowner.
The above will not just pertain to current maintenance needs, but also ongoing upkeep to maintain your investment for longevity and prime market rent.
Have you ever worked with an HOA? Enough said.
Knowing and understanding the tenant-landlord laws can keep you from going to court or help you win in court over tenant disputes or security deposit damage disputes.
All in all, hiring a property management company may not be the best move for every landlord, but if it does make sense for you, they will be able to assist you with the balance of being rent ready without eating too much into the bottom line.
If you live in Greater Denver area, contact TJC Real Estate and Management Services for a complimentary consultation. We are unique in the industry as we are a one stop shop for real estate investors. TJC can help with the acquisition, property management, and asset management. Our goal is to create a long-term relationship that helps your asset(s) grow, as well as, provides stable, long-term ROI. We are happy to assist you on your journey to become a real estate entrepreneur and hands off landlord!
Schedule your complimentary appointment with us today!
Brought to you by Sondra Lockett-Cameron, Marketing Manager for TJC Real Estate and Management Services.