Benefits of Using a Property Management Company for Your Rental Property

By Phil Bost

If you own a rental property, whether a simple single-family residence or a large multi-
unit property, a property management firm can make your rental experience more
positive. If you are not working with a property manager, you are missing out on several
key benefits. Here are some ways that a property management team can improve your
experience as a landlord.

1. Help Selecting and Screening Tenants
A good tenant is worth his weight in gold, but a bad tenant can turn your ownership
experience into disaster in mere moments. An experienced property management firm
knows how to locate and screen tenants, ensuring that the tenants you have in your rental
property are the right match. This will limit the number of problems you have with
damage to the property or non-payment.

2. Help with Maintaining the Property Well
Property maintenance is one of the biggest headaches the modern landlord faces.
Property management firms have partnerships with local maintenance professionals, and
some even have maintenance crews who work with them directly, to help keep your
investment well maintained. This improves tenant satisfaction and improves the overall
success of your rental property.

3. Help with Understanding Tenant and Landlord Laws
A legal dispute with one of your tenants could cost hundreds of thousands of dollars.
Working with a knowledgeable property management firm can help you do everything in
line with the law, so you can avoid potential legal problems. If you do have a dispute or
other problem, your property management team can help mitigate the problem to avoid a
legal concern and improve the chances of a positive outcome.

4. Help Keep Tenants Happy
Professionally maintained properties tend to have happier tenants. Because tenants have
someone they can talk to immediately if they have a problem, and maintenance is
covered through the property manager, tenants are happier and tend to stay in the
property longer.

5. Help Reduce the Stress of Working as a Landlord
Finally, a property manager will make owning rental property less stressful. They will
take calls from tenants, manage paperwork and bookkeeping tasks and arrange for
maintenance. All you have to do is sit back and enjoy the financial benefits of owning
rental property.

If you are not working with a property manger, you are missing out. Find a qualified
property management professional today to help improve your property ownership
experience.

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