Top Reasons to Hire a Property Manager and what’s his work
Being a landlord is not an easy job, particularly when you buy a rental income property with many units, becoming even more difficult if you have other responsibilities. You must not only look after the tenant’s profiles but upkeep the maintenance of your property as well. This being said, if you think it’s too tedious for you to handle so many responsibilities, it is recommendable the hiring of a good property manager. Here are top reasons of why you should hire one.
You can be calm with a property manager It’s common for landlords to receive phone calls from harried tenants complaining about leaking roofs or burst pipelines. It is the property manager’s job to answer those calls and complaints made by the tenants in order to act and fix the problems as soon as possible.
You don’t need to worry about the screening process Problematic tenants can be a source of constant trouble for landlords. It is the property manager’s responsibility to put in place a screening process. This ensures that only good tenants who pay the rent on time and behave in a good manner can live in your property. Problematic tenants can not only have problems with other tenants but also damage your property.
You don’t need to worry about the maintenance of your property As a landlord, it’s your job to make sure that your property remains in top conditions to attract potential tenants. The upkeep and regular maintenance of the property is shouldered by the property manager, he must be able to identify problems that can become major issues in future. Also, these property managers have a team of vendors and contractors who make it easy for them to look after the maintenance of your property.
You don’t need to worry about rent collection Without a property manager, remembering the dates of agreement of all the tenants can be a big problem. You must visit your property regularly to collect the rent from different tenants. The rent collection task is handled by the property manager, meaning that you can rest assured that you will receive the money on time month after month.
When so much is done by a property manager, it’s prudent to appoint someone who is experienced and works in a professional way since this person is the one that will be looking after your property. The hiring of a property manager will usually cost you around 10% commission out of your rental income.