The advantages of hiring a property management company far outweigh the disadvantages. The only disadvantage to retaining a property management company is the effect it will have on your profit margin. If your goal is to have the tenant pay your mortgage with the rent, you need to factor in the costs of the management company to determine if it is an option for you.
Keeping a real estate rental property occupied is a struggle that only a real estate investor could understand. The big secret to maintain an occupancy rate is property management. At Coastal Nest, we take care of the daily operations of your residential investment property, which include collecting the monthly rent, staying up-to-date with the property’s condition, as well as keeping up with the tenants.
One important advantage to keep in mind is that property managers are up to date on state and federal rules and regulations in respect to tenant and landlord requirements. The property management company would take care of any legal proceedings, and if a tenant got behind on rent, they would take immediate action by sending a rental arrear. If they thought further action should be taken, they would proceed with an eviction.
Remember they are professionals. If you have an investment property and it’s in the hands of real estate professionals, you have made the best choice. They know the business and how to maintain a property to make it profitable. Don’t forget marketing. Marketing is one of the major aspects of running a property. You want your property occupied and that is what a residential property management company will do for you.
Having a certified staff for handling emergencies and being on call 24/7 is also crucial. A property management company will help save you the efforts of doing so by having a staff ready to answer the call at any time of the day or night. That in itself is a huge weight lifted for property owners.
Give us a call or shoot us an email and we can discuss how we can accommodate your property management needs.