So you own a property or even a few properties and are looking for a way to streamline the management process and take a little weight and stress off your shoulders. This is where a property management company can really help you out. You may have some questions and concerns when it comes to property MGMT companies, don’t worry in this article we will discuss everything you need to know about property management companies. What they do and how they can effectively help you out with all your property management needs.
As a property owner you will know that managing your homes is a lot of work and can be very time consuming and stressful on you, especially when you have a not-so-ideal tenant who is becoming problematic for you. When you hire a property MGMT company to manage your property for you and deal with tenants then you will be relieved of all that stress, which will enable you to focus on other things.
So what are the main jobs of a property manager? Let’s get straight into those right now.
- Making sure you as the property owner get the right tenants
One of the main jobs of a property manager and a very important job is to make sure that you are getting your ideal tenants living in your property. Property managers often have years of experience with this depending on the property management company you go with. They will be able to effectively interview tenants on your behalf to make sure that you are getting the best tenant. Through experience, they know what questions to ask your potential tenants and screen them correctly so that you, the property owner, won’t run into any problems in the future, such as the tenant not paying their rent on time and making noise late at night, etc
- Maintain your property for you
Whenever your property needs maintenance your property manager will make sure that it gets done in an affordable and timely manner. Often property management denver companies are partnered with home maintenance companies so whenever something in your home needs attention or fixing they can make sure the job gets done as soon as possible. Your property may have a leaking sink or something goes wrong with the plumbing that needs immediate attention. You may not know all the best companies to call in these situations to get the best price but your property manager will know all of this important information. They will assess what needs to be done and then call the relevant companies to get it resolved ASAP
- Collecting of rent on your behalf
This is another very important job for your property MGMT company and the specific person that is managing your property for you. Most property managers will make it their priority to make sure that you get your rent money on time each month. They can set up a specific time and date of the month when their rent needs to be collected. They might even send out reminders to the tenant a few days before the rent is due to remind them that they will be coming around to make the collection. This is great for you as the property owner because often homeowners don’t enjoy the rent collecting task each month. Some people find it very uncomfortable and stressful. When you hire a property manager you won’t have to worry about the stress and frustration of late rent payments.
- Offer sound advice to you—the homeowner
Property MGMT companies have years of experience in the field and they are able to offer you some pretty effective advice regarding your property. They might offer up some suggestions about certain renovations that you could possibly make to your property which will allow you to ask more in rent therefore earning you more rental income each month. They might have some potential tenants on a waiting list that may be a perfect fit for your home. This will drastically reduce the amount of time that your property is vacant, allowing you to quickly get new tenants into your property which will again prevent you from losing out on rental income due to your property being vacant.
- Effectively advertise your property on your behalf
As a homeowner we all know how important it is to be able to effectively advertise your property to attract your ideal tenants and reduce vacancy times. As the homeowner you may not have the knowledge and expertise in advertising. This is where a good property MGMT company can really help you out. Certain companies specialize in advertising on properties. This will give you the peace of mind knowing that you are getting the best tenants who will pay the amount that you are asking for each month. A good property management company will be able to quickly assess your property and come up with the best rent price. This means more rental income for you and less stress of having to try and come up with a good advertisement and marketing strategy. They can get this done for you at an affordable price.
These 5 jobs that we have just outlined for you are very important jobs for a property MGMT company. Obviously they can do much more for you but we thought we would discuss all the most important jobs so that you can get a good understanding of what is to be expected of your property management company. They can save you a lot of time, frustration and money if you hire the correct company to manage your property for you. If you own 1 or more properties in Denver, then you might want to consider hiring a property MGMT company to help you with your properties. After all, there is only so much time in the day.
To learn more about what we can do for you, consider taking a look at what we have to offer here at Legacy Property Management. We would love to come up with the perfect management solution for you.