The biggest misconception among rental property owners is that self-managing saves money.
The fact is, a lot of owners don’t have the experience that they need to deal with the issues that can come up with rental properties. Hiring a property manager allows you to utilize a team and their services to avoid headaches and save time.
Professional Management Saves Money
Your investment property will earn a lot more when it’s professionally managed. You’ll have lower vacancy times because property managers know how to market homes and screen tenants quickly. The rental price will accurately reflect the market, and a good relationship between the property manager and the tenants will ensure your retention rates are high and your turnover rates are low. You’ll also save money in maintenance. Professional managers have relationships in place with some of the best local contractors and vendors. The amount of work we provide to those vendors makes us eligible for special discounts and negotiated rates.
Professional Management Saves Time
Unless you’re willing to make your rental property a full time job, you really need the help of a professional manager. You cannot wait to make a repair until a weekend that you’re free. You’ll need to show your property to prospective tenants with little notice, and you’ll have to be available to tenants in case of emergencies. If you have a full time job of your own, a family that you like to spend time with, or other passions and pursuits that you wish to follow, professional management will help you live your life.
Professional Management Saves Trouble
You’ll also get more peace of mind when you have a qualified, experienced property manager taking care of your home. You won’t have to worry about making legal mistakes with fair housing or rent control. What if your tenant stops paying rent and you have to evict? Unless you have the time to stay up to date on all the laws affecting landlords and tenants, you’re safer leaving your investment in the hands of an educated professional.
We work with owners who like to be involved in the management of their properties and those who are completely hands off. We can customize a plan that works for you.
If you are having issues self-managing or you’d like to hear more about our professional property management services, please contact us at The HLW Group.