Have you been on the fence about hiring a property management company to help you? Property managers are beneficial as they do tend to remove the day-to-day stress that comes with managing tenants and keeping up with property maintenance needs. However, understanding how to find a good property manager can be a challenge. How does property management work? What can you do to ensure you are hiring the best property management company? Keyrenter has put together a guide to help you understand how property management works.
Rent Collection
Who loves to collect rent? One of the largest headaches for landlords is getting their tenants to pay on time. If you struggle with rent collection, consider hiring a property management company to deal with this frustration. Collecting rent isn’t easy by any means, but it is easier to do when you have a dedicated company handling it. Keyrenter has years of experience dealing with rent collection, and we have proven results! We work hard to ensure our clients are paid on time and the tenants can pay rent on time and in full. We provide several payment options to help renters make ends meet. If you find you are constantly battling to get rent payments, it’s time to hire a property manager.
Maintenance Calls
Another irritating issue landlords need to worry about is dealing with annoying maintenance calls. From small water leaks to broken door knobs, dealing with maintenance tasks can be stressful. Hiring a property management company allows you to avoid the stress. Property management companies will take care of all maintenance calls, yes even the ones in the middle of the night! Dealing with tenant maintenance is one of the biggest aspects of being a property manager. Tenants are always pushing to have maintenance done now, which can be challenging for a landlord. Outsourcing to property managers will allow landlords to avoid dealing with repairs that may be outside their skillset. Plus, you do not need to worry about forming bad relationships with tenants if you are unable to fix their issue immediately.
Not only do property managers handle maintenance calls, they set up a schedule for maintenance. Caring for appliances, HVAC systems, and more will help to avoid costly repairs in the future. Regular property maintenance is essential to keeping the property looking nice but also making it a great place to live. As a landlord, you want to provide your tenants with a nice, comfortable home. Since maintenance can be hard, it is much easier to let property management firms tackle this area.
Finding Tenants
What happens when someone leaves the property? There is a lot of work that needs to be done to the property to prepare it to be rented again. Marketing efforts to find quality tenants can become expensive and a lot of landlords do not know where to begin. Property Management companies will be able to help in this area as they do all the marketing, tenant screening, and tenant selection. There is a lot of work that goes into sourcing tenants, trust Keyrenter to undertake this burden for you. We have years of experience recruiting and maintaining tenants.
Evictions
One of the most difficult tasks for a landlord is to deal with a tenant that needs to be evicted. Do you know the legal procedure to evict someone? How long does an eviction take? What happens if the tenant will not vacate the premises? Dealing with just a few questions here show us the importance of hiring someone that knows what to do with evictions.
Bookkeeping
If you do not have a bookkeeping system in place, you could be placing your finances at risk. Hiring Keyrenter is a smart decision if you want a team of professionals to handle the cash flow. The other benefit is how easy property management companies like Keyrenter make it to file taxes.
Property management companies are one of the greatest options for landlords who are ready to move forward without the stress and frustration that comes with owning rental property. How does property management work? Contact our office today if you want to find out!