As a new landlord, it can be hard to keep up with all of the work involved with maintaining a property for tenants. It isn't as easy as making an initial investment and collecting passive income.
Have you considered hiring a property manager to help? Many landlords are wary of property management services because they don't know what property managers do or whether or not they're worth the cost.
We're here to discuss why hiring a property manager might be the right choice for you. Read on to learn more.
1. You'll Save Time
If you're a landlord who only runs one or two single-family properties, you might not have any trouble balancing your duties as a landlord with your life (especially if you have good tenants). If you have a large apartment complex or more than a handful of rentals, however, you'll find that time gets away from you.
You have a lot of responsibilities to take care of. Do you have time to attend to all of them, work your normal job, and take care of your own needs?
With a property manager, you don't have to worry. They'll handle the behind-the-scenes work like scheduling regular property maintenance, screening new tenants, and making sure that everything runs smoothly.
2. You'll Get Better Tenants
Speaking of screening tenants, when you use a property management service, you'll have a better chance of getting tenants that will treat your property well and pay their rent on time.
Not all tenants are good tenants. While most tenants aim to treat your property as if it were their own, it's not uncommon for people to experience tenant disasters.
When you have a property manager take care of screening, background checks, walk-throughs, and application processing, you know that you're getting tenants that will last.
3. You'll Fill Vacancies Faster
It's not only important to find good tenants. It's important to find good tenants fast. Every day that you have a vacant rental unit is a day that you're losing money.
Even in a hot housing market, finding tenants in a pinch can be a challenge. Marketing your rental isn't as easy as it looks and even getting your unit ready for walk-throughs is time-consuming.
A property manager will handle your marketing with ease. They'll arrange for professional photos, deal with social media, and even place listings on popular rental sites such as Zillow.
They'll also handle pre-tenant cleaning and manage in-person rental visits for tenants.
4. They Deal With Tenant Concerns
One of your responsibilities as a landlord is making sure that your tenants are comfortable and that they have their property needs met. This means that if they have maintenance problems, concerns with other tenants, or any other issues, you have to help them.
That is, unless you have a property management team.
Your property manager will handle a lot of the communication with tenants. They can negotiate leases, send out warnings (if necessary), and handle all maintenance requests so you don't have to.
Hiring a Property Manager Is The Obvious Choice
Being a landlord is harder than it seems on the surface. By hiring a property manager, you'll be making your life easier and keeping your tenants happier. What's not to love?
If you're a landlord in Spokane, Washington who's ready to start working with a professional property management team, we're here to help. Contact us so we can start working together today!