When contemplating hiring a property management company, you may have heard many disadvantages about doing so. Maybe you have preconceived notions that property managers simply collect rent, and end up costing you a lot of money. However, the benefits of property management significantly outweigh the costs. Take a look at the benefits of property management and see how hiring a property management company can actually help you increase business and decrease stress.
The Benefits of Property Management
- Acquire higher quality tenants. There’s nothing worse than having unreliable or difficult tenants. A property management company can make sure that this is avoided. By providing tenant screenings and protecting you from rental scams and lawsuits, the property manager can save you the stress of dealing with potential renters. Because the property management company knows the warning signs to look for in an application, they will be sure to provide you with high quality tenants, and also save you time as well as the headache that comes with the process. A property management company can also help to successfully market your property through effective advertisements.
- Tenant Retention. So you’ve acquired high-quality tenants, but now you have to make sure you keep them happy. A happy tenant means a longer rental period and a property manager with a time-tested retention policy can help make this happen.
- Maintenance & Repairs. One of the best ways to keep your tenants happy is to make sure they are well-cared for. One way to do so is by making sure you are keeping up with maintenance issues and providing them the assistance they need. A management company with a reliable maintenance staff will help to keep the tenants content, and may save you some money in the long run.
- Tax Benefits. Along with saving you money from maintenance costs, the property management fees are tax deductible.
- Rent Collection. Unfortunately, there will always be those tenants that pay their rent late every month. You shouldn’t let the renters take advantage of you. A property management company will make sure that the renters pay on time by upholding a strict policy. If the rent it not paid by a certain date, the tenants will be subjected to the possibility of eviction.
Now that you know just a few of the many benefits of property management, you want to make sure you hire a good company to do the job.
Clagett Enterprises Inc. is a property management company that provides full service, competitively priced property management throughout Maryland, Virginia, and West Virginia. In addition to residential properties such as single family homes, apartment buildings, and residential condos, we also specialize in the management of office and medical buildings, shopping centers, commercial buildings, and more. Our goal is to help you profit from your investment and to free you from the daily concerns of your property’s upkeep and operation.
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