The real estate market over the last few years has been marked with a high number of discount properties.
As a result, many investors have come to the table and snatched these homes off the market—often for below market value.
Couple the low prices with the increasing demand for housing, and there is no wonder that many investors have moved from flipping houses to utilizing investment properties as rentals. However, most investors want to make a profit on their income property without engaging in the sometimes burdensome task of property management.
Fortunately, investors can call upon property managers to do this aspect of the job while they focus their efforts on growing their business and finding more investment properties.
Here are 5 reasons you should hire a property manager:
The great thing about a good property manager is their expertise in effectively marketing your property to potential tenants. Removing this task from your list will save you time, while also increasing the likelihood that you will find tenants for your rental properties faster.
Not only do property managers market your property to others, but they are also skilled at finding and screening tenants, including everything from background checks to credit reports.
One of the best things about having a property manager is that you no longer have to collect rent, schedule property inspections, make repairs, or handle tenant complaints. Leave all of this to the property manager, providing you with priceless peace of mind.
In addition to the above, property managers are also knowledgeable about local laws and regulations and will help ensure that your rental properties remain up-to-date with rental property requirements.
Property managers bring in-depth experience to the table to help you with a wide variety of decisions, including but not limited to how much to charge for your rental property.
Having a property manager on your side not only frees up your time but provides you with an expert who can help you make sound decisions to increase your chances of investment success.
At the end of the day, a property manager can help alleviate the stress that often comes with managing rental properties, providing you with the time to focus on growing your business while the property manager handles the day-to-day operations of your property.
If you want more time and less stress, consider hiring a property manager for your rental properties today.
Matthew is the CEO of Evernest. He is a student of the book Good to Great and is passionate about building the best property management company on the planet (and maybe even the universe if Elon Musk will hurry up). You can usually find Matthew at the baseball field with his son, at a dance recital with his daughter, or at his favorite restaurant with his wife, when he’s not in the office. And if you can’t find him in any of those places, it probably means he’s traveling.