Whether you are purchasing your first rental home or are a seasoned investor, there are many reasons why it makes sense to hire a professional property manager. A good property manager can help you navigate the pitfalls of owning a rental home and in doing so save you money as well. Here are the top 6 reasons why:
- Lower your risk by selecting qualified tenants- A good property manager will work diligently to place the best tenant possible in your home. By thoroughly vetting potential tenants with criminal, credit, previous eviction, income and employment checks, you can get the most qualified person in your home.
- Reduce vacancy times- An experienced property manager will know how to properly price your home to maximize profit and limit vacancies. An overpriced listing can cost thousands of dollars in vacancies. Also, a property manager will have multiple resources for marketing your property to the largest audience to fill vacancies quickly and efficiently.
- Limit litigation- local, state and federal tenant/landlord laws are constantly changing. A good property manager will keep you up to date on laws and regulations that will keep you out of trouble and out of the courtroom.
- Detailed Accounting- Another benefit a property manager can provide is detailed monthly and yearly accounting. They will keep accurate track of income and expenses that will make tax time a breeze.
- Lease Enforcement- Let your property manager be the buffer between you and your tenant. A qualified property manager will handle any conflict that may arise between you and your tenant. Even the best of tenants can have a hard time understanding their obligations under the lease agreement. Your property manager will handle any unpleasantness and work hard at maintaining a good relationship with your tenant.
- Home maintenance- Your property manager will handle maintenance requests and have vetted contractors that provide the best quality and pricing. A well-maintained home will assist in retaining your tenants for longer periods of time.
With more than 20 years of experience, Castle Rock Property Management Company, Secretary of Estates can help you with your investment goals. Let us do all the work so you can sit back and reap the benefits. Call us today for a free market analysis at 303-660-8888.