Managing rental properties can be time-consuming, and can take away from time and energy you could be spending elsewhere, like growing your portfolio.
The right Property Manager can not only help save that time and energy, but can also help increase your overall ROI. Choosing a Property Manager with the right expertise and experience is key. Here are some of the important things you should expect from your Property Manager:
Marketing
One of the most important parts of Property Management is finding the right tenant to successfully lease the property. Marketing the property successfully takes effort, but the right Property Managers are experienced in how to connect potential tenants to the right property. This process can be time consuming and more difficult for property owners to take on themselves. From the right Property Manager, you should expect the strategy and knowledge of connecting your property to the right tenant for a successful lease and potentially less turnover.
Screening Process
Finding the right tenants with the right qualifications is a top priority. Your Property Manager should have a process in place for not only finding tenants, but also ensuring they are the most qualified to rent your investment.
Showing the Property
Another large part of a Property Manager's role involves showing the property. As part of the overall marketing and screening process, it's important to be flexible and available to show the property to potential tenants who are interested. The right Property Manager will be available to complete showings in order to successfully place a tenant, and allow the property owner to spend that time elsewhere.
Property Maintenance
Another feature that you should always expect is the handling of maintenance problems that may arise. The right Property Manager will not only accept these calls, they'll also make the necessary arrangements for the maintenance to be handled by the right service technicians and contractors.
Rent Collection and Paperwork
Rent collection is another important aspect of a Property Manager's responsibilities to assist property owners in the successful management of their investment. Rent collection, and of course the development and collection of proper lease agreements and other paperwork can be a time consuming and mundane task that your Property Manager should successfully coordinate.
Inspection
To ensure the property is being well-maintained, routine inspections are often necessary. Good inspection practices can help avoid difficult and expensive repairs. Your Property Manager should be ensuring regular routine inspections of your investment.
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