Top 10 Reasons to Hire a Property Manager

By
Real Estate Agent with McKamie Real Estate Services, LLC 0491786

I decided to list the Top 10 Reasons to Hire a Property Manager and found it difficult to narrow down to just 10.  Some think that it just means putting a for rent sign in the yard, finding a tenant and sitting back to collect rent. Sounds easy doesn't it?  Well the truth is a good property manager is invaluable to an investor and can be so worth the fees!

 

1. Compliant with local and state laws-   A property manager professional knows and stays educated on all Fair Housing Laws, Local and State Rental codes, State laws and regulations.  They are trained in running and understanding criminal, credit and sex offender reports, laws regarding Service Animals, Emotional Support animals vs. PET. 

 

2.  Know the market- A seasoned property manager studies and knows the rental market.  This will prove invaluable to an investor so that he/she sets rental rates appropriately. They handle showings which frees up your time.

 

3.  Offer Great On- Call Services- this is an invaluable service!  Who wants to be called in the middle of the night for a/c not working, or flood in apartment?  

 

4.  Marketing- In the age of social media, a good property manager does more than put a sign in your yard!  There are so many ways to market your property both online and offline to make sure that your property does not sit vacant for long.  Lost rental income is not good for the owner or the property manager.  When interviewing property managers ask where all the home will be listed and advertised.

 

5.  They go to court for you-  If there comes a time when you need to evict a tenant, your property manager will prepare all documents and file them. They will show up for court and speak on your behalf.  This again frees you up to do other things!

 

6.  They do move out walk throughs-  this is very important for owners.  There are strict guidelines on determining damage by tenant vs. normal wear and tear when you are deducting from tenant security deposits.

 

7.  Process security deposit dispositions- INVALUABLE!  Time is of the essence when handling security deposits.  This must be handled appropriately or you can face penalties up to treble damage.

 

8.  Collections-  Never hear "The Checks in the Mail Again"- Collections is a huge service that the property manager performs for you.  Along with collections, you will get a monthly report of all income and expenses.  Most property managers also provide a year end statement so that you tax filing is made easy.

9.  Vendor and Contractor Relations- A good property manager has contacts for all types of vendors to service the maintenance and repairs of the home.  By having these relationships they are able to negotiate pricing in the best interest of the owner.

 

10.  A good Property Manager  is the Eyes, Ears and backbone of your property.  The EYES are always watching your investment, looking for ways to increase rents, keeping the property in tip top shape.  The EARS are always listening to resident communication, vendor conversations, community conversations, etc.  By serving as the BACKBONE of your property it keeps the owner from having to be the BAD guy.  Let's face it there will be times when you have to be hard on a tenant in order to get them to follow the policies.  It is best if the owner does not have to have these face to face conversations, let the Manager be the middle man and resolve the problems.  

 

These are just a few of the things a good property manager will perform.  I will assure you the list goes on and on as a day in the life of a property manager is never the same!  I have been in this industry for many years and I believe that is what keeps me going!  I absolutely love the industry...well sometimes it is a love/hate relationship, but it is one that I enjoy.

If you are seeking a good property manager, give me a call.  If I am not in your area, chances are I know other managers who are and I would love to help you find a GREAT MANAGER!

 

 

Posted by

Debi McKamie
Realtor®/Property Manager

Serving Bosque, McLennan, Johnson, Bell, Hood and Somervell Counties. 


 Are you looking to buy/sell or invest in rental properties in these areas?  Let's talk!!!

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Comments (3)

Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good more Debbie. This is thoughtful, specific and focused. I would use this as a handout. Well done.

Jun 23, 2018 07:10 AM
Debi McKamie

Thank you!  I may take your advise and put it in my marketing packet. 

Jun 23, 2018 07:51 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

A good manager does litle else than just manage the properties.  Unless this is your main job doing it yourelf can be hard and time cosnsuming

Jun 23, 2018 07:27 AM
Debi McKamie

Thanks for commenting.  It does pay to outsource management.

Jun 23, 2018 07:51 AM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

You could make this list 30 things. As an owner of a property management company I did it because I saw so many doing it poorly or at best, mediocre.

Jun 23, 2018 04:25 PM
Debi McKamie

thanks for commenting.  You are so right, this list is just a beginning of all that a PM does for you.


 

Jun 24, 2018 04:51 AM