Why should you hire a Property Manager?
If you are an investor who is thinking about buying into investment properties but you
lack the knowledge of how to handle the details of leasing and managing these
properties then a property manager is the difference between your venture being a
success or a failure.
There are a number of aspects that can be the deciding factor of whether you are a
success when it comes to real estate investment. You need to make sure that you
market your property correctly in order to find and retain tenants. The aspects that you
need to consider and the duties that you need to undertake when it comes to
maintaining your investment in the property market can often be overwhelming and in
many cases you will find yourself without enough time to undertake all of the duties
that are expected of you. By hiring a property manager you will be easing the burden
that can often come with owning a rental property. So choosing to use the help of a
property manager is the single most important decision that you can make when it
comes to protecting your real estate investment and maximizing your cash flow.
No one should venture into their own business without having the right resources at
their disposal and owing rental property is no exception. So hiring a tried and true property
manager is a good idea as they will be a valuable resource, especially if you are a first time
investor.
But what exactly does hiring a property manager mean for your business?
Hiring a property manager will do a lot more for your rental business than you may
realize. Some of the main tasks that are undertaken by a property manager are as
follows:
• Handling late night emergency phone calls
• Screening potential new clients
• Taking care of the monthly rent collection
• Sorting out regular maintenance and handling any repair work that may need
doing to a property
• Visiting tenants whenever it is necessary to do so such as property inspections.
• Being in charge of evictions
• Terminating leases and lease addendums
When you hire a property manager it is also their job to generate interest in the
property in the first place in order to bring in perspective buyers. By hiring a property
manager you are giving yourself peace of mind that all legalities are being followed.
They will do more to ensure the success of your rental property business than anyone
else.
A property manager will have years of marketing expertise, meaning they will know
how to best market your property so that your property will be rented in the quickest
time possible. Also by hiring a property manger you are hiring someone who has local
knowledge of rental rates so they will be able to determine the highest rental rate that
is possible for your property. Most importantly however for your rental business is the
fact that a property manager will know the laws and regulations of property
management through and through. There are many laws that you have to be aware of
as a landlord and if you don't follow them then your tenants are able to sue really
easily. This is just one responsibility in a long line that is passed over when you hire a
property manger.
So for just 8% to 10% of your monthly rent collection you are able to get on with
other duties and tasks while you are safe in the knowledge that your property is in safe
hands with the help of a property manager.
For more info on renting your home: http://www.hpepropertymanagement.com
Have a great day!
"We REALLY do appreciate all your referrals"
Joseph Holbrook
HPE Properties @ Keller Williams Realty Reston
http://www.restonhomepage.com www.hpepropertymanagement.com
http://activerain.com/blogs/holbrookjp
Phone (703) 651-9169
Fax: (703) 651-9170
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