Although there are costs associated with hiring rental property managers, Raleigh property owners should take into consideration how helpful the services provided by a property manager can be. Many grow tired of performing the duties associated with being a landlord but still want to reap the financial benefits of renting out an investment property. Hiring a real estate management company allows property managers to have the best of both worlds – a third party managing their rental property while still bringing in an income from the renting process. Typically, no longer having to deal with the list of responsibilities landlords often have is worth the percentage charged by these professional companies each month.
Help with determining and collecting rent
Property management companies specialize in the market in which their properties are located. Because of this insider knowledge, rental managers know how to price a rental property competitively but reasonably and also have an understanding of when rates need to be raised or lowered based on the performance of the market. Rental managers also collect rent payments, enforce late fees when a payment is late, and handle eviction proceedings in the event of a tenant’s failure to pay.
Handling of maintenance issues
A property manager most likely will handle any requests from the client for repairs or services, such as extermination. Typically, professional management companies have a list of trusted contractors and service providers they use to complete any repairs. Most property owners prefer having a third party deal with these issues rather than spend their evenings and weekends running back and forth to their rental property meeting contractors or attempting to complete repairs on their own.
Screening of tenants
Professional rental management companies have extensive screening processes for potential tenants, making property owners feel confident that only the most trusted tenants are living in their investment properties. Screenings typically involve background and credit checks, employment and income verification, criminal background checks, and calls to check references on each tenant. Having assistance with such checks and balances can mean the difference between a disastrous tenant situation and a long-term, mindful tenant who is a joy to rent to.
At Real Property Management Raleigh, we specialize in meeting the needs of both our clients and tenants. Visit us today at http://www.raleigh.realpropertymgt.com for more information about how we can help you get the most from your investment property.