You should hire a property manager if you need help in running and maintaining your rental properties. Whether you want to free up your time or acquire additional rental homes to increase your income, the services of a property manager are vast. Listed below are just a few of the responsibilities of a property manager that will be an invaluable help to you:
Advertising and Marketing
Property managers ensure that there is a low vacancy in your property. They will do all of the advertising and conduct showings to interested parties. Additionally, they will do a thorough market analysis of your property so as to improve its marketability. They will give suggestions on how to boost the popularity of your property to get more people looking at them. Needless to say, property managers can help maximize your rental profits.
Setting and Collecting Rent
By hiring a property manager, you can be sure that you are charging the right rental price for your property. These experts will conduct a comprehensive market analysis to determine the appropriate rental price and predict possible market changes in the foreseeable future. With the information they provide, you can make timely price adjustments on your tenant’s lease.
Additionally, property managers also handle the difficult task of collecting rental payments. Simply instruct them where to deposit the money. They can also refund security deposits, and keep you updated about recent tenant changes.
For a lot of owners and landlords, keeping properties in tip-top condition is one of their most challenging tasks. Make it simple by hiring an expert to oversee all the repairs, renovations, and construction projects to be carried out. Property managers will contact home improvement contractors and deal with them, so you don’t have to.
Legwork and Paperwork
Property managers will prepare all the legal documents needed such as lease contracts, eviction notices, late payment requests, and a whole lot more. They can also handle rental renewal agreements. They also tenant screening as well. Checking the background of a possible tenant is easy for them. They have the means to legally obtain their credit, criminal, and employment records for further assessment.
Accounting and Bookkeeping
Being on top of your cash flow is easier with a reliable property manager looking out for you. These managers are knowledgeable in preparing monthly and yearly financial statements. They will send you a detailed statement of your finances on a regular basis. With their assistance, you can just sit back and relax, knowing that all rental proceeds, utility payments, and home repair invoices are duly accounted for.
Pasas Property Management provides services that are suited to your needs. Whether you want a comprehensive management package or a “lease only” service, your requirements will be met. You can hire them to place a tenant in your property, and then assume all other management tasks thereafter. Or you can hire them to handle every single task mentioned above. Ask us about customized property management assistance today.