While owning a property can be quite an investment, it’s equally a great source of additional income when it is a Rental Property. However, it also comes with added responsibilities of property management, including upkeep, repairs, and marketing. If you are asking yourself “do I need a property manager?” then you should consider the benefits when using a Property Management Company and then make you conclusive answer to your question after you might have gone through this article.

It’s clearly so important to to use a Property Management Company such as a registered Real Estate Firm to manage your property and this importance can not be over emphasized. Millions of individuals own properties that are improperly managed which sometimes gets them frustrated that they sell off the property, sometimes they can not manage it themselves because they have no time to even manage the property not to talk of when they have more than just one property.

Before we look at the benefits I believe it would be fitting to actually know who a Property Manager is:
A Property Manager is one hired to handle and oversee the day to day operations of a Real Estate property which includes responsibilities like collecting rents from tenants, setting rent prices to fit the market, seeking out and approving new tenants, coordinating leases, and following up on maintenance requests e.t.c

Property owners who typically understand the essence of hiring a Property Manager do so in order to achieve their goal of building a steady investment income while reducing the burden of daily property operations on themselves.

Who can be a Property Manager: Before anyone can be regarded as a Property Manager to any Real Estate property he/she must be certified and well trained professional knowledgeable and experienced in the Real Estate Industry and must be fully licensed to handle all the relevant properties.

Over the years, there have been a lot of issues that property owners face with regards to handling their properties as it is not an easy task to handle daily, monthly, and yearly maintenance of these properties while also at the same time trying to keep up with the Landlord-Tenant relationship. And thus the reason why property owners should consider getting a Real Estate Company to manage their property/properties.
So having said all these let us now look at the benefits one would get from using a Property Management Company.

1. Screen Out Problem Tenants

One of the biggest benefits of property management is that the property manager will handle tenant screening. Experienced property managers see hundreds or thousands of applications, so their trained eyes are more likely to notice potential red flags when reviewing an applicant’s paperwork. They are quickly able to spot good tenant qualities, such as paying rent on time, taking care of the property, and more. Letting them manage the tenant screening process can improve your chances of landing a reliable renter.

2. Act as the point of contact for tenant concerns

If something breaks at your property, it’s not always convenient or possible to drive over to the unit to inspect it yourself especially if it’s in another town or state. A property manager can address problems at all hours of the day and arrange for a service provider to repair or replace the item. Or, if you have a tenant who always seems to have a complaint be it the noisy neighbors or the dog who relieves itself on the front lawn you can breathe easy knowing that the property manager is the point of contact for those types of calls.

3. Market your rental

Property managers are skilled at rental marketing, including writing rental ads, taking high-quality photos, and hosting open houses. They also have local real estate knowledge and will be able to help you set a competitive rent price. Hiring a property manager with marketing experience can help fill your property sooner and reduce the time it sits vacant. If you plan to market your property yourself, Adeniji Adele and Associates offers a hassle-free way to list your rental on multiple traffic highway websites. It would interest you to know that 84% of renters use online resources when shopping or searching for a home so it’s a good idea to list your rental on the right sites to attract those potential tenants.

4. Decrease tenant turnover

Good property management companies know how to keep their renters happy. They are responsive and available, and they take care of problems when they arise. Happy renters are also less likely to look for another place to live and more willing to accept reasonable rent increases. For tenants who choose to stay in their current lease, 50% of them think their home is a good value for the price and 40% say they love the place they rent.

5. Ensure rent is paid on time

Because property management companies deduct their fees from the monthly rent, they are motivated to keep those payments flowing in. Consistent rent collection is key to receiving rent payments on time, and using a Property Management Company will help enforce lease policies if payments aren’t received. If tenants are consistently failing to pay their rent on time or at all, the Property Manager will know how to deal with the situation, including issuing an eviction notice if necessary. Payment collection can be a common issue the typical renter spends 29% of their income on rent, and a significant share of rental households are one large expense away from being unable to pay.

6. Avoid potential legal issues

Property Managers understand landlord-tenant laws and fair housing laws, which can help you avoid potential lawsuits and save time, money, and energy in the long run. They will also typically take care of any lawyer fees associated with evictions or property damage issues. If you are not comfortable handling things like evictions, signing and terminating leases, and handling rent and security deposits, you may need Property Management Company expertise.

7. Save you money on maintenance and repair costs

Using a Property Management Company may also come with discounts for maintenance services if the Property Managers work with a regular service provider or employ an in-house maintenance staff. They can perform regular inspections and find issues before they turn into bigger problems which will reduce the number of emergency repair bills.

8. Reduce your rental headaches

If someone else is handling the daily management of your rental property and tenants, you will have fewer complications and commitments to worry about. If more time and less stress are key to your quality of life, using a Property Management Company can be a great asset.
These are the benefits of Property Management and investing in a rental property can contribute to your monthly cash flow and build long-term wealth but day-to-day Property Management is not for everyone. If you just want an additional income from rent and don’t want to be responsible for the details of your rental investment, consider all the Property Management benefits that you will receive for a percentage of your rental income.

 We at Adeniji Adele and Associates are known to be experienced with managing properties for individuals as well as cooperative organizations and we would like to help you to manage yours and relieve you of all the rigors involved with managing your property/properties yourself. So call us today on our official numbers 08087086993 or 08091290611 Or send us an email at adenijiadele.valuers@gmail.com and we will ensure that you rest easy and achieve your goal on Property Rental Investment.