You are a landlord in need of a property manager, but there are so many out there. So how do you decide? What does a good property management company do so you know who to choose?
What Does A Good Property Manager Do?
A property manager’s main job is to manage, repair and
maintain an owner’s property all while keeping the hassle to the tenant and landlord and expense to the landlord to a minimum.
Property owners are renting a property in order to fulfill a goal: pay the mortgage on it and make a profit, keep it from being empty which costs money in ongoing expenses and lost revenue and keep the property in good shape so when it’s time to sell it’s ready.
A well maintained property keeps its value, and also keeps the tenant happy and paying rent.
The property manager is who your tenants can call in an emergency. A proactive property manager has the skills to keep the emergencies from happening, or have the skills to fix most things keeping those exorbitant repair bills from happening.
The property manager also deals face to face with the tenants on rent issues, and, if necessary, has a “back up” list of tenants to fill in an unexpected vacancy. For the non-paying tenant, the property manager deals with the eviction process for you.
What Do Property Managers Charge?
The management company will charge a fee to do these things, so you will need to be sure you find one that is reliable for the money you pay them. But the fee is worth the peace of mind you will have knowing that your property or properties are well cared for and you won’t be having those nightmare situations quite as often!
Property management fees can range from 10%-15% of the rental price and may have a “signup cost” when you sign on.
Bottom line, the maintained value of the property and continued rental due to the efforts of the management company to collect the rent, and to keep the property from being vacant, is worth the cost of the of the service.
If you would like to work with a good property management company in the Denver area, give Denver Realty and Rentals a call today! 303-452-5853