Landlords and property investors have a lot to remember. It can be difficult to grow your business as a property owner and still manage every responsibility of the existing properties. Property managers act as a third party hired by the landlord or property investor to do the dirty work for them. Hiring a property manager has many advantages to the property owner.
- Saves you money.
Some people think that property managers are an expensive investment. And it may seem like that at first, but over time they will majorly save you money. When you do the math and factor in all the services they provide, and the time they save you, they pay for themselves. Generally, a property manager charges six to 10 percent of the rent of the property they’re managing in exchange for their services. This small percentage is less than what you save by investing in their services.
- On-call service.
At Crossroads Realty and Property Management, our staff has a 24 hour, seven days a week emergency response. We are ready to handle emergencies that come up such as: heating issues, plumbing problems or flooding, electrical issues, and more. Do not be afraid to call. An emergency is an emergency, and we will work hard to resolve the issue in a timely manner.
- Finding tenants.
Property managers are invaluable in their expertise. Part of that expertise is finding tenants that will pay rent on time, maintain your property well, and are pleasant to work with. Not only will property managers find trustworthy tenants, they will manage the maintenance of your properties, handle rent responsibilities, and resolve conflict that arises between tenants and landlords.
- Handling rent responsibilities
As stated previously, property managers deal with handling the rent, so that you as the property owner don’t have to. They do the work to set the rent to a rate that attracts tenants to your property, collect it, and then adjust it based on legal regulations. They also handle evictions for tenants who haven’t paid their rent.
- Marketing and Advertising your property.
A good property manager will know how to market your property to the public to secure tenants. Proper marketing of your property is crucial because it can mean the difference between filling your property quickly, and dealing with long vacancies. The trick is to know where to market your property and how to craft a compelling advertisement. An experienced property manager will have the insight to know exactly how to go about the marketing and advertising process for your property.
- Saves you time and grows your business.
Your real estate investments are a business, and Crossroads Realty’s property management services treats them as such. Our property managers take on the tedious and time-consuming aspects of your job so that you can spend your time growing your business through investing in new properties. If you don’t outsource the job, you’re hiring yourself. Meaning that if you don’t hire a property manager, you’re hiring yourself to keep track of every detail of your properties, and handle every aspect of owning a property for all of your property, which can be paralyzing. Having to do all the work for all of the properties you own can keep you so busy that you’re unable to continue investing in properties and grow your real estate investment business.
At Crossroads Realty & Property Management, we understand that property management requires daily attention, and daily work. Most property owners don’t have time to perform all of the necessary duties of a property owner. Our property management services are designed to take the burden of property management off your plate, and allow you to focus on more important aspects of your life. Give us a call at Crossroads Realty to learn more!