The Top 5 Benefits of Property Management Services
If you own a rental property, chances are it’s been a headache at some point.
No one wants to spend precious time chasing down delinquent rent payments or dealing with repairs after a tenant has left a unit in poor condition. Uncomfortable confrontations and lengthy legal issues can seem unavoidable when you’re a landlord.
It doesn’t have to be that way.
When you hire a property management service to handle your rental units, you’re saving yourself time, hassle, and money in lost rent and legal fees.
Here are five major benefits of using property management services.
Lease Enforcement
When the need arises to enforce a particular part of a lease, it can quickly get uncomfortable.
A property management service can act as a valuable middleman in these situations. They’ll handle any issues that arise, whether a situation is best handled by sending a notice of a lease infraction or by legal action.
They will handle unpleasant phone calls, track the paper trail, and make sure you’re covered in case of needing to pursue eviction.
This benefit alone can save a landlord a huge amount of hassle and stress.
Tenant Screening
While every landlord hopes their tenant relationships will all be rosy, that’s not always realistic.
Using a property management service to screen prospective tenants can reduce the risk of having tenant issues come up at all. Experienced property managers know what questions to ask during interviews. They will have the time and resources to do a more thorough screening than a private landlord.
If any issues do arise with tenants, it’s up to the property management service to handle it. You can take a more hands-off approach with your properties, which can be a plus in uncomfortable situations with your tenants.
Shorten Vacancies
When a tenant moves out, it can sometimes be a lengthy process to get the unit filled again.
Particularly if there’s been damage, it can take some time to complete the repairs and cleaning of a newly vacant unit. A property management service comes with their own maintenance team and can get the unit cleaned up in a streamlined process.
When it’s ready, the management team will handle advertising your vacancy, and cut down on the time any given unit spends not making a profit.
Handling Tenant Concerns
When a tenant’s pipes burst in the middle of the night, do you want to be the one receiving the phone call?
If you’d prefer to outsource the nitty-gritty of landlord life, property management services can help. Whether a unit needs a minor repair or a complete replacement of a major appliance, the management team will take care of it.
They will help facilitate resolutions to inter-tenant conflicts, and you can wash your hands of any potential drama
You won’t have to field inconvenient phone calls when something inevitably goes wrong. Your property management service will be on the job quickly and efficiently.
Taking Care of Legal Issues
It’s a landlord’s nightmare, but legal issues are often an unpleasant reality of owning rental properties.
The rental housing industry is a legal minefield due to its especially stringent regulations. It’s easy to be overwhelmed when faced with potential legal action of any kind.
Whether you’re suing a tenant for eviction or find yourself on the other side of a lawsuit, a property management team will have your back. It’s their job to be up to speed on your state’s rental laws, and using a property management service can be a legal security measure to ease your mind.
Final Thoughts on Property Management Services
When you use a property management service, you can take the right steps to achieve the ultimate goal of streamlining the rental process.
Ready to shop around? Contact us to see how we can help with your real estate needs.
