Are Sarasota and Bradenton Property Management Companies Worth the Fees? Part 3 of 3
Sarasota, Bradenton, Lakewood Ranch, Venice and North Port FL area landlords want to know if hiring a professional property manager can really boost overall returns and eliminate 100% of operational headaches.
In Pt. 1 we learned that your professional property manager will essentially provide you with two services:
- People Management -- in relation to the property, dealing with others on your behalf, thus eliminating headaches and limiting liability.
- Asset Maximization -- extending economic life while managing current income and expenses.
In Pt. 2 we learned that people management has to do with dealing with the various characters who come into play during the course of operating a rental:
- Condo/homeowner associations.
- Tradesmen (plumbers, handymen, painters, etc.)
- Bill collectors.
- Mortgage companies.
- The list is endless . . .
Asset maximization is about evaluating a property's income potential against the backdrop of current market trends and budgeted expenses to upgrade and/or maintain the property. One way to look at it is that a property needs to be maintained at such a level that any less maintenance would result in a greater decrease in rental income. Conversely, any improvement must be evaluated with respect to its ability to attract and retain good tenants at fair market rents.
Real Property Management of Sarasota & Manatee is part of the 250+ office international property management powerhouse, Real Property Management. With over 60,000 units under management, RPM is the world's largest residential property management company.
Contact Us for a FREE Property Management Quote