If you possess a rental property, the odds are that at some point, you’ve considered hiring a property management company. And it’s a good thing to consider. While some rental property owners are unwilling to pay someone else to take care of their investment, for others, there is no substitute for the professionalism and expertise that a great property management company can provide. Furthermore, when you hire a professional property management company, you gain access to benefits and knowledge that most do-it-yourself landlords do not have. If you are still unclear on whether to hire a property management company, consider these six great reasons why professional Chatham County property management might be the best choice you ever make.
1. Lower Maintenance and Repair Costs.
Maintenance and repairs can be a problematic aspect of rental property ownership, mainly if you are new to being a landlord or don’t have a lot of time to do the job on your own. However, it can be challenging to know who to call when things go bad. Identifying when work requires a licensed contractor is, on occasion, hard to determine. The last thing you should do is deal with a random service provider since you need help right away – as that is the best way to wind up paying far too much for lower quality service.
Moreover, a professional property management company can help you achieve preventive maintenance and repairs that will help avoid expensive emergencies. On the other hand, the best Chatham County property managers are involved with contractors who have demonstrated themselves to be responsible service providers. These relationships with contractors can help diminish maintenance and repair costs while keeping your property in healthy condition.
2. Trusted Vendors.
Your rental property is a valuable investment. As a result, it is best to choose only experienced and trusted vendors for all necessary services. But if you’ve never dealt with vendors or negotiated service contracts, you might end up getting charged far more than a professional property management company would. One great benefit of recruiting a professional property management company is that they have conducted all the planning to vet all home service vendors, taking all the guesswork out of hiring the people you need. Plus, a professional property management company often has far more leverage than an individual property owner, frequently leading to preferential pricing and lower service costs passed on to you.
3. Accurate Rental Market Data.
If you are new to rental property ownership, you probably have not had much experience assessing your local rental market. Unfortunately, too often, this results in landlords who don’t have an idea how to accurately research and distinguish comparable properties and thus calculate a dependable, fair market rent. If you are confused about your ability to comp the market, a professional property management company can be of tremendous help. As experts in the local rental market, great property management companies such as Real Property Management Impact will prepare all the research for you. Presenting you with local, comparable properties and a fair market rental rate that you can feel confident charging your renters.
4. Maximize Monthly Income.
Setting a correct rental rate is a big part of making sure your monthly rental income is as high as it can be. If you’re not doing so, you’re leaving money on the table, or even more serious, you may price the investment property too low, causing a longer vacancy as prospective renters doubt what is wrong with the property. However, there are various other techniques that a professional property management company can help you to maximize your monthly income.
At Real Property Management Impact, we often work together with rental property owners to make minor but gainful upgrades to their rental homes, which will allow them to demand a higher rent. By knowing where to put each investment dollar, our rental property owners not only increase the monthly return on their investment but often see increases in overall property values as well.
5. Professional Tenant Relations.
One common concern that prevents rental property owners from appointing a professional property management company is a fear of discomforting a current tenant. It is a sensible fear: tenant relations can be a very challenging part of rental property management. It needs time and effort to establish excellent communication with a tenant and respond promptly to their questions and requests. However, the risk of upsetting your tenant is minor when compared to the advantages of saving all that time by passing on your property management to a trusted professional property management company. A professional property manager may even be able to offer more ease and convenience to your tenant, something that many tenants enjoy.
6. Property Management Pays for Itself!
Lots of do-it-yourself landlords think that handling their own property management is the least expensive approach. But the reality is that owning a rental property is a long-term investment best entrusted to the professionals. In the end, hiring a professional property management company immediately pays for itself through convenience, time saved, and maximized profits. After you hire a trusted professional like us, you may wonder how you ever got along without a property manager!
To learn more about our Chatham County property management services, contact us online today!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
