Life also can be equally strained for rental owners who just don’t feel their current investments are earning enough money.
It’s situations like these that should make you seriously consider hiring a property management company.
Who Needs a Property Manager?
Many people assume that property managers are for real estate millionaires who own hundreds of rental properties and tenants.
Nothing is further from the truth. In fact, most of the people who need a property manager are folks just like you, and fall into the following categories:
- Professionals relocating. Whether employees are asked to move overseas for just six months or closer to five years, they don’t always want to sell their home because they know they’ll be returning. Instead of leaving the house vacant or putting it on the market, turn it over to the care of a property manager who can keep the house leased to responsible tenants.
- Remote investors. For out-of-town investors with properties in the Las Vegas area, a property manager can take care of all the little details while the owner focuses on working on the overall portfolio.
- Busy individuals. While some people have the time to manage their own properties, it doesn’t always make financial sense for others. Some people prefer to own real estate as an investment, but prefer to devote much of their time to other activities. In these cases, a property manager can give you the best of both worlds.
- People who don’t want the hassle. Many individuals own a second property as a source of steady, supplemental cash flow. A property manager can ensure everything operates and functions smoothly without any hitches or vacancies.
What a Property Manager Can Do For You
Still not convinced you need a property manager? Here are a few overarching benefits to consider:
- Local knowledge. Particularly for out-of-town investors, such details as local rental rates, property valuations, and market activity can be a challenge to master. A property manager studies these topics for a living and can provide keen insights on current rates … as well as where rates might be headed in the future.
- Low turnover. When a tenant leaves, you are required to clean the space, fix existing problems, market the property, spend time screening new clients, and perform all the other tasks that are required to secure another tenant. Using the services of a property manager lowers the turnover rate by keeping tenants satisfied and content.
- Legal knowledge. If real estate and property ownership isn’t your area of interest, it can be difficult to navigate the tricky legal issues associated with being a landlord. Here too, a good property manager will address local, state, and federal laws, county codes, real estate regulations, and everything else that has a tendency to trip up a novice property owner.
- Everyday issues are handled. There is something to be said for not letting the menial tasks overwhelm you. A property manager oversees maintenance issues, paperwork, rent collection, complaints, and everything in between.
- Marketing expertise. It can be difficult to market a property successfully, especially if you’re operating from a remote location. Even when you’re local, real estate marketing is often best left to the professionals. A property manager doubles as a skilled marketer and can attract prospective tenants through cost-effective methods.
At SMART, we’re happy to discuss our property management services with you.
We offer automated collection and distribution, effective marketing, tenant screening, 24-hour support, and much more.
If you’re looking for a local company with industry experience, give us a call: 702-919-7981