Managing your own rental property is an attractive business these days. Get a tenant, collect rent, and increase income. Managing your own property can be very costly and time consuming, especially if you are an out-of-state owner. There are many values in letting a local property management company handle your rental property for you (i.e. saves you time, maximizes your income, peace of mind and protects your investment.) Here are 6 main reasons to hire a property management company…
Finding The Right Tenants. Experienced Property Managers see hundreds of applications yearly, so our trained eyes are more likely to notice potential red flags when reviewing an applicant. The tenant screening process which includes local/national criminal background check, credit check, verifying with the registered sex offender registry, residential verification and employment verification, can improve your chances of landing a reliable tenant.
Exposure. A Property Manager will know exactly where to market your property and how to craft compelling advertising materials—a significant advantage when it comes to filling your properties quickly and avoiding long vacancies. The MLS database is a perfect example of the one edge you will have on all other private landlords. The MLS database is a program for Realtors to share and view all properties available in the area with other Realtors.
Knowledge of Landlord/Tenant Laws and Regulations. Property Managers are licensed professionals that are required by law to continue education on current laws, regulations, statutes and discrimination. A Property Manager can help you avoid lawsuits by keeping up-to-date and in compliance with these regulations.
Rent Collections. Collecting rent on time every month is the only way to maintain consistent cash-flow and your tenants need to understand this is not negotiable. By hiring a Property Manager, you place a buffer between yourself and the tenant. This allows the Property Manager to be the bad guy who has to listen to excuses, chase down rent and when necessary, evict the person living in your property.
Full Service Maintenance. Property management companies have relationships with maintenance workers, tradesmen, contractors, suppliers and vendors. These relationships are difficult for an independent Landlord to duplicate. Not only will your Property Manager get you the best work for the best price, they’ll oversee any necessary maintenance projects or capital improvements.
Saving Your Time. By having a Property Manager take care of the day-to-day aspects of running your income property, you’re free to spend your time identifying further investment opportunities or otherwise furthering your career.
Malt Realty has managed properties for investors for over 40 years and servicing owners like you, longer than any rental management company in Fort Myers. Malt Realty strives to get you the maximum rental rates with responsible residents with our complete team of professionals. We are dedicated to maintaining positive, long-term relationships with Owners, Residents and Community Associations.