When you start building your real estate business, or you have a few different properties that you have to manage it can be extremely difficult. It can be hard to stay on top of all the paperwork for all the properties, and it can be tough to take note of any changes in your tenants. There are many different responsibilities that you are responsible for when you are running a real estate company, or when you have multiple properties that are rented out. If you have never thought about hiring a property management company full time, you should seriously consider it. Here are a few reasons that it is extremely nice to have a property manager:
As the property manager, you would have to take emergency calls from tenants that had a house emergency in the middle of the night. More often than not the emergency is something as simple as a leaky faucet. These types of calls, however, can become extremely annoying when you have multiple properties and multiple phone calls a day. A property manager can take this task off of your hands and provide all of your tenants with the emergency help that they need.
Single Task Awareness
While you have multiple properties that you need to take care of, it can be easy to let a few details slip through the cracks. Those details can be things like rent or maintenance, and no matter what the small details are they need to be taken care of. Since you can be so busy, it is extremely helpful to have a property manager that has the sole job of ensuring the property is run effectively and efficiently. No matter how the property manager runs the property, as long as they are qualified and organized, they will ensure the property is run correctly down to the little details.
Personal Contact With Tenants
The property manager is generally the individual that the tenants will have contact with. This can come in handy when things like collections and evictions are in store. You do not have to be the bad guy and kick anyone out of their living arrangements. If a person has not paid rent, the property manager has the responsibility to take action. You and the property manager can write the contract together, and if someone breaches that contract the property manager will have to let the tenant know what has happened and then enforce the penalty.