If you’ve ever owned and rented out a property, you’ve likely seen the great financial rewards that it can bring. But you’ve probably also experienced the headaches and time constraints the come from doing all of the work yourself.
A property manager can help alleviate some of that pain and keep the cash flowing - freeing up your precious time and allowing you to focus on other priorities. Here are some of the ways that a property manager can help you out:
1. Finding Tenants
Your property manager will handle all of the tenant applications and screenings. They’ve been doing this for years and have the experience and tools necessary to find the best tenants for your rental. You don’t have to worry about keeping your rental occupied because your property manager will take care of that for you.
2. Managing Tenants
Another advantage on the tenant side of property management is that your property manager is the go-to person for all maintenance requests, complaints, and payments. You don’t have to feel overloaded with requests from your tenants because all of that goes through your property manager. You can be kept in the loop on all of this if you wish, but you can relax knowing that they have everything taken care of.
3. Compliance with Housing Laws
There are tons of laws and regulations surrounding renting out your property. A property manager helps make sure your property and the procedure through which it is rented comply with all city, state, and federal regulations. This will help you avoid lawsuits and stay up to date on any changes in these regulations.
This one kind of falls in line with finding tenants, but it’s more than that. Because your property manager wants to make sure your rental is occupied as much as you do, they market the property to put it out there in front of potential renters. This is usually done through online platforms, whether they are advertising the properties on their own websites or putting the properties on Zillow. Even the company’s own marketing - billboards, radio commercials, digital marketing, etc. - will help your property to become more visible.
5. Setting Rental Rates
It can be a challenge to know exactly what to charge for your rental. But your property managers know the market well and follow the market trends. They’ve done their research so they know the best rates to set to fill your rental and make you money.
6. Allowing You To Rent Distantly
When you have a property manager, you don’t have to live in close proximity to your property to make sure that it is taken care of. You can have a home in southeast Idaho and live in Utah or California (or anywhere) if you have a good property management company to handle it for you. You don’t have to be limited by your desire to rent out properties.
If you have a property you are looking to rent out and would like the peace of mind that having a property management team can offer, give Rooftop Real Estate Management a call today.