The true fact is that anyone can manage a property, if they are willing to deal with all the pitfalls that come with the business and law mandates. However, a competent property manager can add significant value to you and your investment. Real Estate investors have figured out a good management company is an integral part of safeguarding their investment. Here are a few ways that a good property manager can work for you.
- Expanded marketing from a professional in the business (resulting in shorter vacancy rates).
- Tenant screening (Credit checks, employment verification, and background checks).
- Quarterly or Annually inspections (Physically walking thru and ensuing the tenants are maintaining your property).
- Lower maintenance repair cost.
- Rent collection and eviction filing if necessary.
How to finding the right property manager for your property is a topic to be discussed later.