When you’re a landlord, you have to be a jack of all trades, and you likely have your hands full. With all that you must juggle, it can quickly become a lot to handle, even for the most experienced landlords and property owners. If you’ve thought about hiring a property manager but are on the fence, let’s review the top five benefits of hiring a rental property management company.
Better Tenant Screening
To find quality tenants, you need to do a thorough background check, which takes time. Some landlords have a lot of tenants to wade through and, subsequently, a lot of screening to do. This is time consuming and can eat up a lot of your money if you’re not charging the right application fee. When you hire a property management company, they’ll take care of that entire process for you and find the best tenants who match your requirements.
Simplified Maintenance and Repairs
Finding quality and affordable maintenance services isn’t easy, and neither is coordinating all the necessary arrangements and appointments. Hiring a property management company gains you access to a large network of quality, vetted, and insured maintenance services. Managers will also keep track of what needs preventative maintenance, so your property stays cared for and up to date and your tenants stay happy.
Shorter Vacancy Periods
Most landlords will tell you that the biggest money-eating headaches are vacancy periods. It takes a lot of time and money to maintain the property while it’s vacant, market the property, find a new tenant, clean up the home, etc. A property manager will help you through this process, so you can find a new tenant faster, decreasing your turnover period.
Efficient Rent Collection
To some degree, you rely on your tenants for personal income and payment for the typical fees of owning a rental property. Therefore, rent collection is incredibly important. Chasing down late rent and collecting late fees are frustrating and time-consuming. A property manager will take care of that for you and will deal with any tenants who like to give excuses. They’ll help ensure you get paid on time and in full. Additionally, if the time comes, they’ll take care of any necessary evictions.
Knowledge and Expertise
Property managers have the training, knowledge, and experience to make your life easier as a landlord. They have the marketing knowledge and can ensure you’re charging the right amount for your rental. They can also help increase your property’s overall value. When you work with a property manager, you can ensure they are there to help you succeed.
Now that you know the benefits of hiring a rental property management company, what’s stopping you from raking in all that freedom and extra time? Let Excalibur Homes make the landlord life simple. We’re a leasing and property management company in Georgia. We can provide you with a personal service representative to find and keep tenants, give them the best experience possible, and collect timely rent.