5 Ways Property Managers Make Real Estate Investors Lives Better

You invest in real estate and have a few rental properties. You’re trying to decide whether to hire a property manager to help you out. So how can a property manager make your life better?

Financially

5 Ways Property Managers Make Real Estate Investors Lives BetterFirst, a property manager can help you financially. First, they are more in touch with rental rates in the area or areas where your rental property or properties are located.

If you overprice, no one will rent, if you underprice you are cheating yourself. A good property management company will conduct a thorough market study in order to set a rental price for your property. They will also collect and deposit your rental payments. That will relieve you of the hassle of chasing down tenants who may be late or no-pay.

But before you get to the rent collection issues, getting the property rented for you is right up their alley.

They will market the property, do background and financial checks on prospective tenants and get the property rented. Finding the right tenant for you also means keeping the property rented and keeping your income flowing.

Maintenance: scheduled and emergencies

Keeping those tenants happy is also a huge part of keeping them. Having a property manager means having someone available for those emergency maintenance calls. They will handle regular maintenance, inspect the property and manage any situations where conflict resolution is required. That keeps your property in good condition. They know the best contractors, tradesmen and suppliers who will do quality work on your property.

Laws and regulations

Even more important, they will know the housing laws and regulations inside and out. This knowledge will keep you out of hot water with local, state and federal officials. Between regulations on rental discrimination and fair housing regulations and requirements (from the ADA) there is a lot to remember. Can you keep on top of it all?

Using a property manager is a smart decision. Don’t go it alone.

Looking for a great property manager in the Denver Metro area? Give Tena D a call today! 303-452-5853

Speak Your Mind

*