Individual investors own 70% of all investment properties. Are they members of the NREIA? If so, they could own between 14 and 40 investment properties.
One person could be handling property management for all those properties. Doing this can put a person under extreme stress. They're also unlikely to handle all of this work well.
Poor property management can decrease the value of investment properties. Property investors should hand the work over to a full-service property management company instead. Read on to learn about the benefits of this service.
More Experience
Are you a beginner in real estate investing? Then you could make a lot of property management mistakes. This will decrease your investment property value.
The employees of a property management company should have years of experience. They won't make the same mistakes beginners will. So the value of your investment property will stay intact.
Handle Tenant Screening
Poor-quality tenants damage properties. Damaged properties have lesser value. Either that or they will be expensive to clean and repair.
Tenant screening ensures you get quality tenants. However, a busy real estate investor cannot thoroughly perform this process. They're more likely to choose poor-quality tenants.
A property management company has ample time. They'll perform thorough tenant screenings. This will ensure you get high-quality tenants.
Rental Property Inspections
A rental property inspection is another service property managers handle. This is an examination of a property's condition. Such a process can help you learn if a property has mold, bad wiring, etc.
It's important to have this info for several reasons. One is that you can find issues and get them fixed quickly. This way, they won't grow into huge, value-decreasing issues.
Usually, a property investor needs to hire a professional to perform this inspection. Property management companies will know the best home inspectors. They will spot issues a regular person may be unable to.
Rental Property Maintenance
Property management companies also take the hassle of hiring maintenance workers out of your hands. It can take time to find the right maintenance workers for your property. They need to have skills, offer a good deal, etc.
What if you don't have time to search for maintenance workers? You could end up rushing and hiring workers that damage your investment property further. This can cause your building to become unsafe for tenants.
A property management company will handle the search for you. They may also already know some good maintenance workers in the area.
Hire Our Property Management Company
In sum, a property management company gives you more free time. You also get better property management than what most beginner property investors can do.
Does investing in a property management company seem like a good idea to you? Are some of your properties in the 805 area code? You should then consider hiring our property management services for your investment properties.
Learn more about our services on this page. You can also schedule a free consultation by filling out the form.
