5 Ways Hiring a Property Manager Can Save You Money

Fun Fact: Over 10% of all housing in America is vacant all year round. That’s an alarming statistic when you consider that many of these properties don’t have to be.

If you’re in the situation where you want to rent your property but you don’t the best way to do it then worry no more. We’re going to tell you why hiring a property manager will be the best decision you’ve made in years.

1. Less Time Vacant

It goes without saying that no one living in your property equals no income from rent or other payments. The longer your property sits vacant the more money you are losing. This applies to both property upkeep and lost income.

One of the most efficient ways to combat this is to consider hiring a property manager. Established property management services have the tools in place to ensure your property gets exposed to a larger market. This can dramatically reduce the time it takes to secure a new tenant, saving you a lot of money.

2. A Higher Class of Tenant

With that said, you don’t want just anyone living in your property. If you get stuck with a bad tenant then there are ways to get rid of them, but why go through all that hassle?

Hiring a property manager can ensure that you only get the type of people that you want living in your property. This is ensured through a process of rigorous tenant screening conducted by the property management company.

This won’t just save you money from common problems with nightmare tenants, such as unpaid bills either. It will also give you some much-needed peace of mind.

3. No Nonsense Approach to Rent Collection

On the subject of bad tenants, if you’re already stuck with one, or one slipped through the net then don’t worry. Hiring a property manager takes the hassle out of difficult situations like rent collection.

If you’ve been in the situation of listening to ridiculous excuses why rent can’t be paid before then you know how hard it can be. Hiring a property manager can remove this grueling task. This is achieved by adopting a tighter rent collection policy, ensuring payment is on-time, every time.

4. Don’t Sweat The Small Stuff

There really is no end to the list of things a competent property management company can do. We’ve mentioned how hiring a property manager can help with rent collection, but that’s just the start. A property manager can also:

  • Handle repairs and contractors
  • Field phone calls on your behalf
  • Liaise with tenants (including handling evictions)
  • Renew leases
  • Collect Rend

And much, much more. You’re not going to understand the true power of a property management company until you get in touch. However, it’s needless to say that you will have more time for yourself with the property manager handling all the small stuff.

5. The Law of the Land

As with many things, the law associated with property ownership and renting can be a minefield. If you don’t know the rules and regulations to the letter then you can find yourself in hot water.

This is where hiring a property manager really helps. Sure, they can take care of all the stuff we’ve mentioned before. But the real power of a good property management company comes from their industry knowledge.

A professional property management company knows all the applicable laws. Because of this, they’ll be certain that you’re always obeying them.

Even if you do fall foul of an unavoidable lawsuit, the property manager will be fighting in your corner. With a property manager and their real estate attorney contacts, you can be safe in the knowledge that you’re always on the right side of the law.

Hiring a Property Manager is a Win for Everyone

Now that you realize the benefits innate with hiring a property manager, what are you waiting for? Don’t let your property go vacant or your rent uncollected for a day longer. Get in touch with a professional property manager today and save yourself a fortune.

Are you in the market for a professional property manager? Get in touch with us today and see how we can help you. Also, if you’re looking for more great property management advice then why not check out our blog?