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Why Owners Should Consider Professional Property Management

By Treva McCain

Real Estate Agent with My Home Leasing

October 15, 2010 02:08 AM

Typically, real estate is the single largest asset you have. In a rental situation, managing a property is not always as simple as it seems.

Many owners come to us frustrated and disenchanted with their role as a landlord. Many have a problem tenant behind on their rent, others are just too busy with their family and careers to deal with the day to day issues of property management. Others have been sitting on a vacant property for some time and need help finding a tenant. Investors find that working with a property manager BEFORE they purchase a property can help them make a more informed decision about which property to purchase.

As a professional property management company, we handle issues such as these every day. We know how to deal with problem tenants, up to, and including the eviction process. Because of our screening process, we minimize the chance of a similar problem with the next tenant. Past records of collections, write-offs and evictions are a strong predictor of future behavior.

For owners that are just too busy to continue managing their properties, we are here to help. Our property management team includes professionals to assist with maintaining your property in good condition. Our experienced property manager coordinates routine as well as emergency repairs. No more calls in the middle of the night for you! We also closely monitor tenant payments. All rents are due on the 1st of each month and are late on the 6th. Late notices are sent the 6th of each month, with 2nd notices sent on the 11th. If payment is not received by the 15th, eviction proceedings are initiated with owner's consent.

In order to make your investment as lucrative as possible, it is important to arm yourself with as much knowledge as possible, and to select the right professionals to assist you. Our property manager knows the Charlotte, Waxhaw, Monroe, Concord, Harrisburg, Fort Mill, and surrounding area rental markets, and will do an in depth market analysis to determine a fair rental value for your property. We will market your property to minimize the time it is on the market, thus maximizing your income. We have the know-how to reach potential renters and the experience to weed out potential bad renters.

For more information about the benefits of professional property management phone us at 704-927-4432 or visit our site http://www.myhomeleasing.com

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Carol Zingone

Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL

Global Realtor in Jax Beach, FL - ABR, CRS, CIPS

I could not agree with you more - it makes sense particularly for out of town landlords.

Oct 15, 2010 02:12 AM

Richard L. Sanderson

Richard L. Sanderson Consulting - Kalama, WA

helping improve local property tax systems

Treva:

One thing that many property managers have done successfully in the Washington D.C. Metropolitan area is to help keep property owner's informed of the current assessed values of their properties. Some even act as a liaison between the property owners and a reputable tax appeal agent who may be successful in getting the assessment reduced. Owners don't also have the time to focus on the assessment or aren't as informed about local market conditions as property managers can be.

Oct 15, 2010 02:21 AM

Mercedes E. Santana

Santana Property Group - New York, NY

Investment Properties

Well said Treva. Professional management is a must for any multifamily property owner. It is the experienced professional that can successfully steer through the myriad of paperwork that must be filed timely. A good management company will work hard to enhance an owner's asset and to create a harmonious Landlord/Tenant atmosphere through communication, repair response and cooperation to name a few.

Oct 15, 2010 03:05 AM

Hercel Spears

Advanced Realty Education HomeSmart Realty - Tempe, AZ

As a two decade career man, I am qualified to manage my own properties but as the old saying goes, "The person who represents themselves..."

Some of the other reasons I choose to work with a management company are, It is nice to have a cushion between me and the renter. I deal with resale and this lets me concentrate my expertise in my business niche and let the expert in property management take care of my needs outside my area of discipline.

Good post.

Oct 15, 2010 03:38 AM

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