Calling All Landlords: 5 Helps to Manage Your Rental Property
There’s nothing easy about being a landlord. When you buy your first rental property, you probably didn’t realize just how much work it would take to manage your own investment. Not only do you have to find tenants, you also need to keep those tenants happy so that they continue to pay their rents. If you have a full-time job or you want to be a hands-off landlord, you’ll need to pass the responsibilities on to other professionals. Read on and find out how property management teams can help you be the hands-off landlord.
5 Ways a Property Management Team Will Help You
#1: Setting Your Rent at the Right Rate
Did you know that setting your rental rate can actually be difficult. If you’re not an expert in Mobile rental rates, you need the experts to help you set a rate that’s fair and reasonable. Setting your rents too high can lead to long-term vacancies, and setting your rents too low will lead to lost rental income. By hiring the right Property Management Mobile AL team, you’ll have peace of mind in knowing that your rents are competitive for the area.
#2: Marketing to a Widespread Audience
If you’re not a marketing specialist, you might not have a clue where to target tenants looking for a property to rent. Property management teams are experts in marketing. They use all of the most popular marketing platforms so that your property gets noticed while it’s vacant. By hiring a property manager, you can live life while the team does the work to find you a tenant.
#3: Screening Your Tenants
Do you have access to all of the tools you need to screen your tenants? You want peace of mind in knowing the tenant you approve to live in your rental property is responsible. You don’t want a tenant with a history of late pays, evictions, and causing damage, and the property team will screen tenants to ensure this doesn’t happen.
#4: Collecting Rents
You don’t want to have to arrange rent collection on your own. If you want someone to do this for you, the property management team will. They will collect your rents, take out their fee, and forward the payment to you. They also add late fees and serve papers if the tenant is not paying.
#5: Handling Maintenance Emergencies
If you don’t want calls in the middle of the night, let the management team handle maintenance emergencies. They have a line set up for tenants to call with plumbing, HVAC, or electrical problems so the issue can be handled immediately.
Being a landlord means that you must be a marketer, a manager, a legal expert, and a maintenance man. If you hire a property management team, you can pass the burden on to people who are experienced with real estate.