Trying to market your rental property with as little hassle as possible? Your best bet is to hire a property manager. They serve as experts at customer relations and handling tenant issues first-hand so that real estate investors and owners can rest easy. So what exactly can a property manager do for you?
Duties of a Property Manager
Property managers help landlords with a variety of tasks to make sure a real estate property looks appealing, keeps all its facilities in working order, and can attract potential buyers. Here are some of the many services a property manager can provide.
1. Market a property. It’s easy to post an ad for your property on Zillow, but property managers will go the extra mile with advertising, social media, networking, and a multiple listing service.
2. Screen potential tenants. Along with showing tenants around the property, property managers want to find the most responsible renters. They will contact previous landlords, do background and credit checks, and verify employment to weed out bad tenants.
3. Price your rent. You may not know how to charge fairly for rent, especially if this is your first time selling real estate. Property managers can easily determine a good price by comparing other rentals in the area, as well as using their local experience.
4. Take care of maintenance. Property managers keep your property looking sharp; scheduling pool cleaning, snow removal, mowing, and any repair requests from the tenant.
5. Collect rent. Concerned about getting rent payments on time? Property managers handle all aspects of getting rent from tenants, including managing partial and late payments. If there is an issue or a difficult tenant, property managers will work with them directly to solve the problem.
6. Deal with problems and problem tenants. If you can imagine it, we’ve probably dealt with it. Tenants will surprise you and some can push you to the limit. Mechanical systems on a property can perplex you and leave you and technicians scratching your head. Great property managers take ongoing problems like this off your plate and have the experience to know how to handle them. After hundreds of unit-years of experience, great property managers have skills and knowledge specific to support your success and to keep problems off your plate.
Is a Property Manager Right For You?
Depending on the size of your property, the number of tenants, and your budget, it could be well worth the investment to hire a property manager. Their expertise could be the key factor in selling your real estate. For more information or property management needs, we’re here to help.
By: Matt Leschber, 1836 PM Founder