Owning a rental property is a great additional source of income but managing it can be quite the difficult task. Marketing the space, spending time and energy on renters’ needs, and other responsibilities can take away from your busy schedule. Working with a property management team provides landlords with many benefits.
Here are a few reasons to hire a property management team:
- Effective marketing. Property management teams know how to effectively market your property to find excellent rental candidates. Their expertise and experience in the industry make advertising your property much easier, in turn helping you find renters quicker and minimize vacancy times.
- No rent collection problems. Collecting rent is the property management company’s job, so you don’t have to worry about haggling with difficult tenants or trying to work with any excuses they may have. Having a team to go through those concerns and make sure rent is collected efficiently and on time is a big stress-reliever for landlords.
- Fewer maintenance concerns. Another reason to hire a property management team is that they handle the maintenance needs that your renters may have. Finding a contractor to work on a maintenance request that your tenant has can be a time-consuming process as you sort through all of the plumbers, electricians, and anyone else that you may need. Property management companies already have a list of contractors that they trust and have experience working with to solve maintenance concerns quickly.
If you own a rental property and need help managing it, don’t hesitate to give us a call here at Thornburg & Associates, Inc.