Successful landlords and investors know that hiring a local leasing and management company comes with several advantages. While many property owners are concerned about paying a management fee every month, professional companies can actually save you money. Here are a few reasons you should consider it.
Better Tenants Bring More Rental Income
A professional property manager will help you find higher quality tenants. The advertising and marketing resources a leasing company has will attract the best people from the rental pool. Then, we make sure we screen those tenants well and allow you to make the best decision on who is going to take care of your home. Bad tenants will cost you money. They may stop paying rent, they can damage your property, and ultimately, you may have to evict them.
Maintenance Costs Are Lower with Professional Management
When those maintenance requests come in, property managers can share the negotiated pricing they get from their best vendors. The vendors and contractors we work with are insured and bonded, and they take care of the work quickly. This responsiveness will satisfy your tenants. Satisfied tenants often lead to a longer lease period. This means fewer vacancy and turnover costs for you.
Accessing Higher Rental Rates
A property management company can make sure you are able to maximize the rental rates in your area. We research the current market and take a look at what kind of competition is out there. This will help you get more money each month to handle your investment.
Reduced Liability Protects Your Income
Property managers have years of knowledge and expertise in the industry and in your local market. We know the laws and we stay up to date on all the rental housing regulations. We provide professional leases and we know all the terms of those rental contracts. This helps you avoid disputes, conflicts, and potential lawsuits. Our goal is to give you more time and peace of mind when it comes to your investment.
If you have any questions about how professional management can protect your investment and save you some money, please contact us at Select Leasing & Management. We’d be happy to tell you more.