If you’re a homeowner who needs to rent your property you may be tempted to also be your own landlord and property manager. And there are plenty of people who do it quite successfully. But there are also times when hiring a property manager is your best move.
Successful property management takes time, effort and a very specific set of skills so hiring a professional can make leasing your home much easier.
Property managers are:
- Budget managers. They can set market based rental rates because they know the area and the what it has to offer from shopping to restaurants to schools.
- Tenant screeners. Property managers know the right way to screen tenants to find the best match for their properties. They can also handle problem tenants with a deft touch to avoid any ongoing problems.
- Good marketers. They will know the neighborhoods and surrounding areas so they can market in the most cost effective way from yard signs to advertisements in neighborhood newspapers or online niche sites.
- Fix it wizards. Do you want to handle a broken water pipe at 3am? Do you know how to change locks for a new tenant or install a new garbage disposal? Property managers will have the resources to tackle the repair and maintenance jobs.
- Financial professionals. Property managers are financially savvy and keep meticulous records for the property owners. There are many reporting requirements not only for tax purposes but also to prove compliance with federal, state and local real estate regulations. Liability issues are also addressed with recorded activities and tenant interactions to protect both owner and property.
- Advisors. Property management companies can offer advice from how to landscape to attract tenants to preparing your property to rent.
Owning rental property can be a sound financial investment but if it takes all of your time and becomes a headache it’s probably time to find a property manager to help. National Property Management Group Miami specializes in managing homes for people who find themselves with property to rent but who don’t have the experience or time to manage them properly. Successfully managing property is all about relationships and we pride ourselves on the long term kind that keeps both homeowners and tenants satisfied.