6 Reasons Why A Property Manager Might Be The Best Option For You

When starting, you can make a lot of mistakes. One of these is to rent your first property without a property manager. A property manager services with My Logan Realty can be beneficial for both the landlord and tenant. However, getting a property manager might mean paying a fee. If you’re on a tight budget and don’t want to pay an upfront fee or ongoing fees, you might want to consider doing it yourself instead. Here are six reasons why a property manager might be the best option for you:

  • The landlord doesn’t live in the area

If you’re renting out the home you live in but are not local, then it’s very possible that you won’t be able to be there when something breaks or goes wrong with the property. It’s unlikely that you’ll have time to fix it while at work or school. Having a property manager can help with this issue because they will be available 24/7 to help with repairs on the home and make sure that tenants are happy.

  • You Can Save Money

If you’re starting as a landlord, you may not have much capital to invest in your property. If your budget is tight, hiring a property manager can be a good option for you. A property manager helps buy things you don’t have the money for like landscaping, painting, trash pickup and plumbing repairs.

A property manager usually charges a percentage of the rent for their services. For example, if the management fee is 5%, that means every month, you’ll pay 5% of your tenants’ rent to them. If the monthly rent is $1,000, that means the property manager gets $50 each month. That’s taken right off your bottom line and helps keep your expenses low.

  • They know how to find tenants

If you’re trying to get your first rental properties under management, then you probably don’t know where to start. You might not even know where to start looking for good tenants either. The truth is that most landlords have no idea where or how they are going to find their next tenant before it happens. A Property Manager can take that stress off your shoulders by actively seeking out new tenants when one moves out or when a unit becomes available.

  • You don’t have to advertise

If you’ve ever looked into advertising your rental properties on sites like Craigslist or Backpage, you know how expensive it can be. Plus, many of these sites deal with questionable adverts that can sometimes promote prostitution or other illegal activities. With a good property manager, your rental will be advertised all over the place.

  • It takes stress off of the landlord

Property managers take the stress off landlords by handling everything related to leasing, maintenance, and evictions, which frees up their time to focus on other aspects of their business. A good property manager will also help landlords find new tenants if a lease is not renewed and suggest improvements that could increase revenue.

  • Helps prevent fraud

Property managers also help prevent fraud. A landlord may be less likely to realize that there has been identity theft or some other type of fraudulent activity if he does not deal with tenants directly. However, a property manager can screen out tenants who are using someone else’s information or who have criminal records on file. Property managers also help prevent fraud by making sure rent payments are legitimate and by making sure that tenants provide contact information so they can be contacted in case of emergencies or if they start missing payments.