The Value of a Property Management Company

When you hear of a “property management company” you probably safely assume that means that is a company that specializes in managing properties. That would be correct, however there is so much more behind the “managing”. When you hire a property management team, they will take care of everything that has to do with the property, and there is a long list!

When you buy your first investment property, it can be exciting to think about all the possibilities that you have ahead of yourself. But if you want to take your rental unit(s) the farthest and be the most profitable, one of the best things you can do is invest in a property management company.

Incorporating a property management company will allow you not to have to carry the burdens of maintaining communication between tenants, having to chase down delinquent payments or worry about calling maintenance when something goes wrong.
The property management company will take care of all of those things and much more!

Here are some things that property managers will handle for you:

1. Marketing Rentals – When you are looking for a potential tenant to rent your unit, the first thing you must do is market your unit! Property Managers can market your unit through various online outlets that allow prospective tenants to view your unit online. They can also see the details of what is included in the rental price, such as utilities or if the apartment has a fitness center or pool. Property Managers are also in charge of reaching out to prospective tenants and showing the units, as well as following up with any questions or concerns that they may have.

2. Screening Tenants– The next thing that is extremely important that Property Managers do is screen prospective tenants. The types of screenings can vary depending on the preferences of the owner or property manager. But these can include running a credit check and a background check to ensure that the prospective tenant is a perfect fit. Once approved, the tenant can move on to sign the lease for the unit, which is also written and prepared by the Property Management company.
3. Maintenance– Once a tenant has moved in, the property manager is the point of contact for any maintenance (or really any concern) of the building. If there is a leaky faucet, a noisy neighbor, or just a general question, the Property Manager is there to assist the tenant. Typically, the tenants can reach the Property Manager via phone, email, or text to create ease of communication.
4. Collecting Rent– The Property Manager will also collect and keep track of rental payments. If a tenant falls behind, the property manager is also in charge of reaching out and attempting to collect past due payments. This can be a stressful job, and very few will want to do this job. However, professional property managers know just how to handle even the most difficult situations.

Property management companies typically manage many properties at one time. If you are looking to grow your real estate profile and continuously search for new rental properties, a property management company can manage all your needs for you. You don’t need to exhaust yourself trying to keep up with every one of your tenants and buildings. You also will allow yourself more free time to search for new units that you can invest in, which allows your company to grow even more.

Whether you have 1 building or 10 buildings, it is a great choice to invest in a property management company. The Harvey Goodman Realtor Property Management team would love to help anyone searching for a property manager. We take pride in everything that we do and have many years of experience in property management and rental properties. Give our office a call today to find out more about how we can help manage your properties today! – 740-695-3131