Sure you could rent out your house yourself, but why take on the problems and headaches involved in being a landlord when there are excellent property management companies – like Propman Property Management – available?
Here are 10 reasons you should hire a property management company:
Thorough tenant screening
The last thing you need is a terrible tenant. As experienced property managers, we have screened thousands of applicants, so we are likely to spot any potential red flags in an application.
Less tenant turnover
Finding good tenants means finding ones who can and will stay in your property. When your property sits empty, that is money out of your pocket. And because people know and respect Propman, they come to our website regularly to check for current available rentals, resulting in a regular flow of people looking to rent homes.
Local contact for tenant problems
If a tenant has complaints, like a barking dog issue, or if something breaks, you have a local contact who can field the call and handle the situation on your behalf. This is especially important for out-of-town owners.
Do you really want tenants calling you in the middle of the night because their heat went out? Our staff is trained to handle any type of emergency situation. We have the staff and resources to take this worry off your mind.
Rent paid on time
Propman has a strict policy on rental payments. We make our monthly fee when the rents come in, so we are especially motivated. If there is a problem with rent collection, we are versed in the proper steps to take, including eviction if necessary.
Repair resources always available
Would you know what to do if the plumbing stops up or the air conditioning goes out? Propman maintains solid relationships with vendors in all the trades. When a problem happens, we can immediately jump to action.
Save money on repairs
Since have long-term relationships with vendors like plumbers, roofers, electricians, appliance repair and suppliers, for example, they give us priority pricing based on our volume. We pass along this pricing directly to you.
Increased property value
When properties are maintained properly, they generally increase in value. Propman provides regular inspections and repairs, and initiates conversations on property upgrades or maintenance issues to help maintain the value of your property.
You stay within the law
You don’t want to have to learn Virginia’s laws against discrimination, landlord/tenant issues, collection processes, and inspections. Our knowledge of these regulations is part of the value we offer our property owners.
You have freedom
You get to enjoy all the benefits of property ownership without any of the headaches. That means extra money in your pocket and more time to enjoy it without worrying about your property.
If you are considering renting out your property, please give Propman Property Management a call. We are experts in the Northern Virginia market and can make the process of renting out your home profitable in more ways than one.
Managing one property is one thing, managing multiple units or properties is another. That’s where a property management company like Propman Property Management comes in. Unless you’re in the business of being a full-time landlord, there are many benefits to hiring this job out.
Reasons to Use a Property Management Company
You don’t want to handle hands-on management. Finding and vetting tenants for multiple properties, handling the billing, and responding to issues are tasks best left to those with the experience, manpower, and resources to do the job well.
Your time is limited. You are spending your time in your own business and shouldn’t be using the time you could be building your career or business handling rental issues including repairs and their financing, remodeling, interviewing tenants, showing the property, etc.
You don’t want to be an employer. For multiple property management you may need to hire a resident manager, maintenance staff, or other employees to help, and along with this comes payroll and other legal requirements. Your property management company is an independent contractor, not an employee.
- You don’t have the maintenance resources. Most property owners don’t have the resources to handle maintenance or emergency issues around the clock, nor do they wish to receive and have to handle emergency calls in the middle of the night. A property management company has complete resources to handle any issue that arises—24/7.
- Your properties are complicated. Are your properties part of the affordable housing program or do they present particular challenges? It’s best to use a company versed in the legalities and nuances of managing certain properties.
- Your rental properties are not nearby. If your properties are in another state, located a distance from where you live, or scattered in different areas, a property management company is best used to handle issued you cannot deal with from afar.
- You have the money. You can afford the management fees that are generally a percentage of the rental income.
At Propman Property Management we’ve developed a system that works for owners of multiple properties. Some of the benefits we offer include:
- Keeping expenses, security deposits and leases separate.
- Providing detailed monthly revenue and expense reports
- Providing an annual report and a co-mingled 1099 review report, with copies for the IRS and the Landlord.
Unless you want to be in the business of being a landlord, it makes sense to look at using a property management company. If you have questions about property management companies, please give us a call. We’ll be glad to help.
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