4 Reasons You Need a Professional Property Manager
Struggling with self-management and thinking about hiring a property manager? Put your real estate investments on auto pilot and let a professional property manager do the work! Here are a few reasons why you should be using a property manager.
Qualifying Your Tenants
As a self-managing landlord, you may be without or lack the resources to thoroughly screen prospective tenants. Are their references for previous landlords real? Do they make the minimum requirement of 3x their monthly rent? These and much more are all questions that are valid determiners of whether or not a tenant is suited to live in your property. When you self-manage these are all things you must validate before you can accept a tenant to your property and gathering all of this information can be a hassle and very time consuming. Trust a professional property manager to do all of this work for you and find only quality tenants for your property!
Collections
Most if not all smart landlords have a policy about grace periods for paying rent after the initial due date. This is good as sometimes life can take unexpected turns for tenants and coming up with rent can be a struggle. As a self-managing landlord, since you are hands on with your tenants, things can get personal quick if you have a tenant who isn’t paying but you have a good relationship with. With a professional property management company, you’re hiring a company with systems in place to address this type of scenario. No feeling bad for your tenant or extending time for someone who is late on their payment to you. The only thing you’ll have to worry about is how you’ll be spending your money collected every month and deposited directly into your account.
Are You Familiar with Fair Housing Laws?
Paperwork and red tape are prevalent in Real Estate. A lot goes into the regulation of ethics and legal issues and as a self-managing landlord you must be knowledgeable of the legal issues addressing your industry. Are you familiar with fair housing laws, HOA restrictions, local and state laws or even evictions? If not, a professional property management company could be a great investment for you to insure all things are done according the book.
Maintenance and the Urgency to Fix
As a property owner, maintenance and repairs are the most time consuming and costly dilemma you’ll face. Are you capable to fix a leaky faucet or a broken air conditioner? Are you financially prepared and do you have a network of vendors you keep in regular contact with? Putting off these types of repairs will only cause problems for you and leave your tenants very unhappy. With a property management company, like Stone Oak, you (and your tenants) are getting the support of an entire team of individuals dedicated to you and your tenant’s satisfaction. Our goal is to leave your tenant’s satisfied week in, week out providing you with high occupancy and low drama!
Still not fully invested in hiring a property manager? Give us a call today at 512.617.6766 to learn more about our services. We’ll provide you with a free rental analysis to determine how much you should be earning. Call today and discover the Stone Oak difference!
