There are a host of benefits of working with a rental property manager, especially in preserving and improving your investment. But rental property owners can sometimes assume the tasks and responsibilities themselves when first starting on the ownership journey. If you’ve been juggling things on your own, you, too, may be considering adding a rental property manager to your list of partnerships. To help reinforce your decision, here are five key benefits to starting off the new year with a property manager in place. It may be the New Year’s resolution you can’t afford not to make.
Improving Tenant Communications
Having a rental property manager on your team means your tenants will always have an open line of communication with you. When it’s time to alert renters of upcoming scheduled maintenance, or changes to policies, a property manager can be timely and reliable on a consistent basis with emails, calls, and notices. Tenants who may not be able to reach you all the time will have a resource for reporting repair needs or concerns with a property manager, as well. Improving your tenant communications strategy means you’ll always have your finger on the pulse of their needs and a layer of consistency you can rely on regularly.
Marketing Consistency
Marketing your rental property means taking pictures, making videos, posting on social media, and networking locally. If you don’t have the time to dedicate to these efforts or find that you sometimes forget to follow through with marketing, a rental property manager partnership is definitely in order. Having someone manage the marketing of your rental property means shortened vacancy timelines and a strong local brand presence. Your properties will continue to remain top-of-mind within your investment community. And even better, camera-shy landlords can delegate those virtual walk-through videos to a property manager instead.
Timely Rent Payments
You may not be comfortable chasing down renters for late payments or sending constant reminders of upcoming due dates. A rental property manager can have these conversations on your behalf and take the task of rent collection off your plate altogether. Whether it’s handling late rent notices or processing electronic rent payments, getting paid on time is a huge benefit of having a rental property manager in place.
Improved Maintenance & Repair Costs
A rental property manager can help coordinate seasonal maintenance schedules, and on-demand repair needs as they arise. There is also an opportunity to build relationships with area contractors and negotiate better rates for services and ongoing work. Handle repair concerns quickly and stay on top of routine inspections, without the stress. These efforts can all be handled and managed by a property manager representing your investment interests.
A Weight Lifted
Sometimes, handling turnover, answering tenant calls, and calling the plumber gets overwhelming. Having a rental property manager means having someone to delegate these responsibilities to, thus lifting a huge burden of tasks off your to-do list. With your newfound freedom, you can explore the analytics of your investments and look for ways to grow your portfolio. And you can enjoy the passive income as someone else manages those never-ending obligations.
Probably the most important tip to take away is not just to hire a property manager but to find the right rental property management company to help you leverage all the benefits of a strategic partnership. When you’re sure you’re ready to take the next step and set yourself up for success in 2021 with the right rental property manager at the helm, contact us! We can be the rental property management ally you need to start the new year off from a position of success.
