Managing a rental property takes a lot of time. Handling maintenance requests, late night calls about lost keys, managing rent payments, figuring out how to list and market your property when the tenant leaves and the headache from turning over the rental can all be avoided by delegating this to someone else. Read below to see the 9 reasons to hire a property manager.
1. Expertise:
Many property managers have extensive knowledge and experience in the real estate industry, and they can provide valuable advice and guidance on issues related to your rental property such as current market rental pricing, current trends in the market and finding new investment properties.
2. Time Savings:
Property management can be time-consuming and demanding, but with a property manager on your team, you can free up time to focus on other aspects of your life or business. Someone has to take those calls from the tenant when things break or they’ve lost their keys.
3. Marketing and Advertising:
A property manager can help you effectively market your rental property and attract high-quality tenants. They have the skills and resources to create eye-catching ads, conduct viewings, and manage tenant applications.
4. Tenant Screening:
They can thoroughly screen tenants to ensure that you are renting to responsible and reliable individuals. They will conduct credit and background checks, verify employment and income, and follow established screening protocols.
5. Rent Collection:
Property managers can handle rent collection, late payments, and other financial aspects of your rental property. They can also provide regular reports and financial statements to help you keep track of your income and expenses. Some can even oversee the eviction process to get your property turned over and back on the market.
6. Maintenance and Repairs:
Property managers can handle maintenance and repairs, ensuring that your property is well-maintained and in good repair. They can also negotiate and manage contracts with service providers and suppliers.
7. Legal Compliance:
Property managers are knowledgeable about landlord-tenant laws and regulations in Maryland, and they can ensure that your property is in compliance with all applicable laws.
8. Problem Solving:
Property managers are experienced in resolving disputes and handling tenant complaints, and they can provide guidance on how to handle difficult situations.
9. Peace of Mind:
Hiring a property manager can provide peace of mind, knowing that your rental property is in the hands of a professional who will ensure that everything is running smoothly.
Finding a good full service property management company is key to having peace of mind. Not all property managers are licensed in real estate so its important to interview potential companies to see how qualified they are. At Blue Door Residential Property Management, we’re proud to have licensed agents on our team to ensure our business is in compliance with Maryland real estate laws.
If you have questions or would like to discuss property management services for your investment property, give us a call at 443.252.3385 or email us at info@bluedoor-pm.com today!
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