Around 51% of landlords hire property managers to protect their investments.
Hiring a property manager has many benefits, from tenant screening to rent collection. But if you've never hired one, you've likely never considered the perks.
Sounds like your situation? Don't worry, you've come to the right place. Here's how property management can protect your investment property.
Maximize Your ROI
Property managers boost your rental ROI. These professionals know the market, so they can set a competitive rate for your property. This means you stand out while earning a profit. Plus, property managers will suggest property upgrades and other ways to increase profits.
Further, property management helps with rental property accounting. Managers will offer statements and teach you about tax deductions.
Better Tenant Screening
Hiring a property manager means better tenant screening.
This is where managers check the applicant's criminal records and credit report. If you don't screen tenants, you may accept a bad tenant who won't pay rent or could damage your unit.
Timely Rent Collection
Owners rely on property managers for regular rent collection. No landlord wants to chase tenants for payment, which is why outsourcing is a no-brainer. You get peace of mind knowing your income is steady with no extra effort.
Great Tenant Communication
To promote tenant protection, your property manager will regularly communicate with them.
Most use property management software to track performance. It's also useful for gathering feedback from tenants. On the flip side, property managers will be open with landlords and mention any issues with repairs or maintenance.
Enforce Signed Leases
Another benefit of a property manager is they explain the lease agreement to the tenant. Giving tenants a run-through ensures that everyone knows what they should and shouldn't do in the property. For instance, there should be a section saying what happens if the tenant harms the property or doesn't pay rent.
Once the tenant signs the contract, the property manager will collect the leasing fee and security deposit on your behalf. If you accept pets in your unit, the manager will collect a pet fee for extra insurance.
Prompt Property Repairs
The best way to protect your property is with timely repairs. Hire a property manager to oversee routine maintenance and arrange for repairs. This will pinpoint potential problems and stop them from developing further.
Get Legal Support
Navigating rental laws can feel overwhelming without help.
Luckily, property managers know the latest landlord-tenant laws and will give you advice. As a result, you needn't worry about legal disputes or receiving financial penalties.
Protect Your Investment Property Today
Now that you know the benefits of hiring a property manager, it's time to find one for your investment property in Jacksonville, Florida.
At PMI River City, our experts help property owners earn a profit and keep their tenants happy. Regardless of your experience, we will guide you through the process and protect your investment.
If you're interested in our services, we'd love to hear from you. Reach out to us to chat with a member of our team.
