There are five important reasons that you should work with a top property manager who has a lot of experience:
Proximity
If you live out of state or out of the country, you can’t regularly drive by the property to do an informal inspection and see how things look. You also won’t be able to post legal three day notices if rent is late. Make sure your property management company is close to your property. This will ensure they are able to hand deliver legal notices, inspect the property and collect rent in a timely manner.
Rental Market
Make sure your property management company has expert, local knowledge of the rental market. If you decide to self-manage your property, chances are good that you will either under-price or overprice your home. We want to make sure you get the best rental price possible in a competitive, local market. Working with a top property management company means you will get a regular market analysis so your property rents for the right price.
Law
When you have a top property management company in your corner, you can be assured that your property and everything goes with it is in compliance with the law. A property manager must have good knowledge of local, state and federal laws. You may not know there are regular updates for landlord and tenant laws, but a great property manager will.
Coordination
Your property management company should be full service. A great property manager will handle everything for you, from coordinating vendors to tenant screening to marketing properties and handling finances. A professional property management company has the staff and the resources to ensure you don’t have to do anything yourself except enjoy collecting income on your investment property.
Peace of Mind
The Number 1 reason you want to work with a property management company is having more free time to live your life. You don’t have to worry about headaches that come with tenants or property management. You don’t have to wake up and answer phone calls at 3:00 a.m. when an air conditioner stops working. There is no stress because your property manager is on the case.
If you have any questions about how to find a top property manager, please contact us at Warner Quinlan, and we’d be happy to help you out.
