The Benefits of Using a Locally-Owned Property Management Company
If you’re trying to find a new place to live and rent your current home, you may want to contact a locally owned property management company to get started.
Did you know that 44.1 million households in the US are renters?
For a property owner and new potential landlord, it can be overwhelming.
There are many different reasons to work with a property management company. Keep reading to learn why working with a locally-owned company is even better and what one can do for you no matter your circumstances.
As a property owner, you might wonder, “are property management companies worth it?”
They take a cut of your profits, so going without one might seem like the best option. But, in reality, the benefits of hiring far outweigh the disadvantages of hiring a property manager as long as you choose the right company.
Local Real Estate Knowledge
A local company will have specific knowledge about the area your property is in. Because of this, they’ll know the laws and regulations and how best to go about finding tenants for the neighborhood.
If you’re not from the area, this knowledge is invaluable. However, if you are from the area, it’s still uniquely helpful because they will likely know the information you don’t know because of their profession and other properties they deal with in the area.
They’ll even know how best to market each property you have. So finding long-term, reliable tenants willing to pay rent will come easier.
One of the most challenging parts about owning a property is dealing with things when they go wrong. For example, leaky pipes, broken air conditioners, clogged drains, and other maintenance issues probably aren’t in your wheelhouse.
So hiring out to get the work done as quickly as possible is crucial to keep the tenants you worked so hard to get happy.
If you work with a local property management company, they will have local contacts to take advantage of in this situation. As a result, you’ll find people to take care of problems quicker and might even pay less for the work.
You might end up with better reviews because of something simple like this.
Working with a large, national property management company might make it hard to contact them. They have so many clients you might have to fight for their time for your properties. You’re a small fish in a big pond to them.
Plus, all contact must be over the phone or through email unless you travel to them. Some conversations are just easier to have in person.
Working with a local company almost guarantees you better service and offers the option to meet with them in person when needed.
Plus, they have the ability to come out to your property to help with things. Such tasks like giving tours, lease signings, etc., can be handled by the managers instead of you.
When you search for a new place to live, you might find so many options it seems impossible to figure out which one is the best.
One great thing to look for is properties managed by companies instead of a single person. Here are a few reasons why.
Prompt Showings Available
When you find a property you’re interested in renting, you probably want to see it right away. Signing a lease before someone else is the only way to guarantee someone won’t take it from you.
If the property is run by a management company, scheduling a time to tour the property is usually quicker than an individual.
Getting in quickly is particularly important if you’re on a tight deadline for moving. The sooner you see the place, the quicker you can move in if you like it.
From here, signing papers and completing the move-in process are also more streamlined since specific procedures are in place.
Easier to Reach
If your landlord is one single person, contacting them can be tricky. If they have multiple properties they’re responsible for; they might be fielding calls all day long.
So when something goes wrong, it might take a bit to hear back from them.
A property management company usually has several people working for them, so getting someone on the phone might be easier. And since several people are working on getting things done, any problems you have can be handled in a more timely fashion.
Streamlined Rent Collection
Nothing is more frustrating than chasing someone down to give them a rent check. Plus, many people don’t even keep checks on hand anymore.
Living in a managed rental home often offers you more streamlined rent collection options. For example, many have portals where you can log in and pay your rent online.
It’s typically taken straight out of your bank account, so it’s easier to track when you paid and make a last-minute payment if needed.
You might even be able to schedule your rent to come out of your account automatically. If you’re forgetful, a feature like this can be a lifesaver!
Working With a Property Management Company to Avoid Stress
The most significant benefit of working with a property management company in any capacity is avoiding stress.
From a property owner’s perspective, you can relax a bit and enjoy the free time from not having so many tasks on your plate to handle.
From a renter’s perspective, it will be refreshing to have a professional and reliable point of contact to handle issues promptly.
If you’re looking for a property management company to partner with, please click here for more information about what we offer and get your questions answered.