Over 30% of U.S. households are renter occupied. A rental property is a good investment offering predictable returns. Not all landlords have time to plunge toilets and collect rent. Property manager vs landlord? There’s a good argument for using a property manager.
Read on for 5 clever benefits of hiring a property manager.
Tenant Screening
Most landlords aren’t familiar with the tenant-screening process. Experienced property managers know how best to analyze tenant applications. They’re more likely to see the warning signs of a bad tenant.
High-quality tenants are a plus for landlords. They keep the property in good condition and pay the rent on time.
Property managers know about potential tenant scams. They have a consistent screening process. This helps avoid discrimination and other potential issues that give rise to lawsuits.
Fewer Legal Hassles
Speaking of lawsuits, a good property manager knows the landlord-tenant laws. Landlords must adhere to local, state, and national laws for rental properties. Violating any part of the Fair Housing Act results in financial penalties.
Property managers help landlords avoid lawsuits in the first place. But a good property management company can also help in the event of an unavoidable lawsuit.
Your legal exposure is less with a good property management firm.
Established Rent Collection Process
Most landlords aren’t used to dealing with collecting money on a regular basis. Many landlords struggle when it comes to rental payment collection.
Many a tenant has a hard-luck story. It’s a good idea to have a property manager between the landlord and the tenant. The property manager’s experience here is crucial. They won’t let tenants offer excuses for late rent or failure to pay.
If an eviction is necessary, the property manager knows how to handle it in the most appropriate way. Property managers are also diligent about renewing leases. They have up-to-date market information and adjust the rent when necessary.
Lower Maintenance and Repair Costs
Most landlords have a difficult time keeping up with repairs. But small issues turn into larger ones when not discovered early on. Regular maintenance visits aren’t easy for a busy landlord with other responsibilities.
A property manager keeps a maintenance checklist and handles all routine maintenance. They will fix possible repair issues before they become major problems.
Fewer Vacancies
Marketing rental properties is another area where property managers excel. They’ll find high-quality tenants in a short amount of time. They have teams ready to clean, paint, and repair properties in an efficient manner.
This means less time between renters, which means increasing income.
Property Manager Vs Landlord
When it comes to a property manager vs landlord, there’s no comparison. A property manager offers many benefits.
Landlords who use property managers have more freedom and less stress. They experience fewer legal hassles and fewer vacancies. A landlord with a property manager doesn’t have to worry about being available 24/7.
For buyers looking for a great investment, why not consider a rental property?
Contact Brockwell today to start searching for your next investment property.
