Do you own one of the 20 million rental properties that make up the real estate market in the U.S.? Are you struggling to manage your investment, or profit from it?
Hiring a property manager could put paid to all your woes. Trouble is, you’ve probably in two minds about making this move, due to common misconceptions about this industry.
Let’s get to the bottom of these property management myths and unlock the truth behind them here.
Nobody Cares About My Property As I Do
Every smart homeowner knows that tenants can cause widespread damage to their investment. For this reason, you might feel reluctant to place your valued asset in the care of a third party.
Truth is, a dedicated property manager has the experience and resources to care for all types of homes even better than you do. Remember, property managers wouldn’t have any clients if they let renters run riot while resident in a property.
They’ll conduct strict background checks and vet each tenant extensively before handing over the keys. What’s more, regular inspections limit the chances of extensive damages by preventing problems before they start.
You’ll receive a detailed report of every evaluation, so you can address any concerns in time.
Property Management Myths About Costs
One of the main reasons property owners never investigate their options for property management is the perceived expense.
As a property owner, loss of revenue due to non-payment of rent, maintenance costs, and major repairs can eat into your profits. So, it’s understandable that you don’t want another bill to pay.
Yet, hiring a property manager takes care of all these homeownership essentials, so you don’t have to. In this way, a great property manager can save you money and boost your income.
Property Management Is Easy
There are some easy aspects to managing a property, but some of them are downright unpleasant.
Some less enjoyable aspects of this pastime include:
- Angry tenants
- Late-night emergency repairs
- Bad tenants
Property managers take all these hiccups in their stride, so you don’t have to deal with these disruptive issues. When you hire a property manager, you won’t even know about these hassles until they’re resolved.
Apart from these upsetting aspects, many other parts of property management require an expert touch. These include:
- Marketing your property
- Detailed reports and analyses
Do you have time for all this in your schedule?
What’s more, a dedicated property manager already has a list of preferred providers when it comes to maintenance and repairs. It can take years to discover good contractors who offer excellent workmanship and fair prices.
Enjoy All the Perks of Your Investment Property
Now that you know the truth behind these property management myths, why not make the move toward better profits and increased satisfaction.
Hiring a property manager frees up your time, so you can enjoy the benefits of owning an investment property instead of worrying about the details.
Would you like some more simple, factual business and lifestyle advice? Browse our website for all the latest information.