Running property on your own is like being a concierge, receptionist, accountant, bill collector, and maintenance worker all in one. Thankfully, you don’t have to go it alone, as an experienced property manager can keep things in line for you.
Have someone to manage your tenants
Tenants have many needs, and it can be hard to stay on top of them if you are trying to handle everything yourself. Without a property manager, being a good landlord sometimes means dealing with calls in the middle of the night or issues that interrupt your vacation. With a property manager, someone else will answer those calls and handle any problems.
Ensure your rent is paid on time
No property owner would cite rent collection as their favorite part of owning an investment property, but it has to be done. Your property manager will help you maintain your rent collection schedule so that you can keep your property’s cash flow statement strong and have the money you need to pay its bills.
Guard against legal problems
In most states, tenant law is a wide-ranging collection of statutes and legal precedents that are difficult even for real estate lawyers to keep track of. Experienced property managers may not be real estate lawyers, but they are likely to have several years of experience in dealing with rental property legal issues, and they can help you avoid disputes.
Enjoy lower maintenance costs
It’s no secret that good contractors cost money, but established property management companies often have negotiated agreements with certain contractors and vendors that can get you lower repair rates. Not to mention the fact that the property manager will have already done the work in vetting the contractor and finding someone who is licensed, insured, and bonded.
Have more free time for yourself
Your investment property is supposed to augment your income so that you have more money to do the things you love. But you can’t spend much time doing what you love if you’re taking on what is essentially the full-time job of managing the property.
Increase the value of your property
When you have a property manager who is ready to tackle maintenance issues before they fester, you’re much more likely to keep the property in excellent shape. This will help you justify rent increases and improve the value if you decide to sell.
Rely on a dedicated and experienced team to handle the day-to-day activities
Your property manager and their team will be your eyes and ears on the front lines. If you’re ready to learn more about how partnering with a property manager can transform your investment property experience, contact The Parker Group today. We offer a full range of property management services in the Greenville area, and we are dedicated to helping our clients maximize the value of their most important investments.