Got rentals? Here’s why you need a Property Management Company
Best Property Management Companies Reduce Your Stress
Investing in a rental property to provide additional revenue is a great idea. But managing it on your own can quickly turn into a big mess full of stress that takes all the fun – and some of the profits – away from your original dream. The best property management companies have professionals who offer support, resources and experience to make your income property an enjoyable, successful and profitable venture. Here’s how:
If the property isn’t located near your home, you’re looking at the potential of a lot of back-and-forth travel for everything from meeting prospective tenants to maintenance to any of a wide variety of issues that can only be handled in person. Having a professional property management team gives you the freedom to invest in property where you want, travel when you want, and spend your time doing what you want, instead of living in fear of what the next phone call will bring.
BETTER QUALITY TENANTS
There’s an art to tenant screening, and a professional property manager is well versed in sorting through applications and finding reliable tenants who pay on time, stay for a longer amount of time, are considerate of your property, and generally less likely to cause problems.
By allowing a professional management company to handle tenant screening, you are also shielding yourself from possible discrimination lawsuits resulting from an inconsistent screening process, forgotten or late rents, or even rental scams directed at inexperienced owners.
Determining the best rates – not too high and not too low – is easier to do when you work with an experienced property management company familiar with the local market and economy. Setting the rent at just the right price can lead to lower vacancy rates and greater, more consistent income.
Higher occupancy rates are also dependent on attracting high-quality tenants. This can be gained with effective marketing and advertising campaigns – the best property management companies have the tools and resources to get this set up for you.
Higher profits with the least amount of stress. It’s the dream of every person who owns rental property. We’ve talked about how having a professional management team on your side can lower costs and increase income. They can also make your life so much easier by handling stressful situations such as broken water pipe emergencies, middle of the night phone calls, late rent payments or evictions, dealing with handymen or vendors, and all the piles of paperwork that are necessary for running a busy rental property.
Our office provides professional property management services for rental properties in the Eagle River, Wasilla, Palmer, and Anchorage areas. If you like the sound of having an experienced professional handle all of the things we mentioned, and more, and would like to know more about how we can help you with managing your rental properties, please give us a call at 907-694-4800. We’re here to help!