Are you a landlord who’s feeling burned out from handling your rental properties?
Even though investing in real estate is a popular way to supplement income and build wealth, renting comes with many challenges. Often, real estate investors fail to realize what they’ve signed up for when they buy their first property.
The good news is that help is here in the form of property management services.
There’s a lot more to managing properties than screening tenants and collecting rents, too. Here are just five ways that property managers help investors.
1. Collect Rent and Deal With Delinquencies
This aspect of property management may be the most obvious, but it’s also incredibly important.
A property manager will notify tenants of due and past-due payments and collect rents on your behalf. They will also take action to respond to tenants who have missed payments, without your needing to be involved.
2. Eliminate Geographic Barriers
Normally, your options for where to invest in property would be limited to where you’ve lived before. After all, you need to know what challenges are unique to an area to properly manage a property there.
But with a local property manager doing the work for you, you can invest in properties anywhere, without needing to become an expert on the area first. You can also count on your manager to keep an eye on things when you’re not around.
3. Handle Maintenance Requests
You may not have time to deal with multiple calls from tenants with maintenance requests. Fortunately, with a property management agency, you won’t have to deal with such calls anymore.
A property manager will respond to maintenance requests for you and hire contractors or repair workers to do the necessary work. That way, you never have to worry about the condition your properties are in or the people living in them.
4. Keep Track of Landlord-Tenant Laws
Laws and local regulations regarding rental properties change occasionally, and it’s important to keep track of these changes. Once again, a rental property manager will take care of this for you, ensuring your properties meet all the requirements.
5. Do Your Marketing for You
Last but not least, a property management agency will promote your properties when they’re empty and find new tenants.
Every day that a property sits empty, you’ll be losing money until someone finally moves in. So it’s important that you fill vacancies as quickly as possible.
A well-connected property manager can even have approved applicants ready before a current tenant even leaves. This can go a long way towards lowering costs.
Experience the Benefits of Property Management Now
If you’re struggling with managing your real estate portfolio in Charlotte, North Carolina, you’re in luck. Wilkinson Property Management has all the resources you need to minimize your property management costs and challenges.
To find out how we can make your life easier, contact us right away.