The average tenant in a single-family rental home in the United States stays for approximately three years. This means a long-term relationship between you and the leasing management company you hire.
When you own one or more investment properties, managing it can take a lot of time and focus. You must handle several duties, from finding good quality tenants to addressing maintenance issues. This is why, as a landlord, finding a reliable leasing management firm is essential.
If you're on the fence about hiring a property manager, this article will help. Here are four excellent benefits you can gain when you hire the right company.
1. Decent Tenants
One of the primary benefits of hiring a leasing management company is their ability to find decent tenants. This means they will advertise the vacancy and vet potential tenants with a tenant screening process. A good property manager will handle the required paperwork and communication with the new tenants.
As a property owner, having good tenants means your rental properties will be respected and well-maintained. This can give you great peace of mind that your investment is in good hands.
2. Timeous Rent Collection
Even with good-quality tenants, rent collection can still become an issue later in the leasing period. Hiring a leasing management company means they handle communicating with your tenants to collect rent. They will send out rent payment reminders and chase up tenants who still need to pay.
Another benefit of a property management firm is it should have more than one rental payment option, which means a smoother rent collection process. This means you earn a greater profit because rent comes in every month.
3. Maintenance Management
Another element of owning investment properties is the maintenance that needs to be done. This includes scheduling regular maintenance checks and handling maintenance issues your tenants bring to your attention. This can take a lot of time from your busy schedule, so hiring a leasing management company can relieve you of this burden.
Another added benefit when you hire a good real estate management company is often they have formed positive relationships with contractors. This can mean the difference between getting a maintenance issue addressed immediately and waiting weeks for a solution.
4. Legal Expertise
Finally, one of the last benefits we're listing is access to legal expertise. A leasing management company will be up-to-date on the latest landlord/tenant laws. This means they can offer legal advice and help you navigate other aspects of managing a rental unit.
Should you need to evict your tenant for any reason, your property manager can help handle the eviction process. This gives you peace of mind knowing the eviction is going according to the law, so you're not liable for any lawsuits.
Hire a Leasing Management Services Today
Owning one or more investment properties is an excellent way of earning extra income. However, it also comes with several responsibilities, some of which you may need more time for.
When you hire a reliable leasing management company, they will help find you the best tenants, manage legal paperwork and processes, schedule regular maintenance, and more.
If you're looking for a full-service property management company in San Diego, we're here to help. We have expert advisors waiting to hear from you, so contact us today for your free rental analysis.
