If you are someone who manages investment properties for sale then you know how difficult it can be to find the time to take care of all the issues that tenants bring up. Some of the most important things need to be taken care of right away, like heating and cooling issues or even plumbing problems. If you are overwhelmed with all the responsibility, it might be time to hire a property management company because they can help you out with getting things done. The property management company industry generates close to $70 billion in revenue each year, and in just five years from 2009 to 2014 this industry grew more than %3 each year.
The facts on property management services mean two things — there is a lot of money to be made for people who are involved with these businesses, and there are lots of selections for consumers who are looking to invest in their services. Real estate sites require a lot of work and upkeep, so most of their business comes from people who are overwhelmed with all the responsibilities of day to day management of rental properties. With over 200,000 property management businesses in the United States, there are tons of choices for you so you will be sure to find someone you trust. If you’re not sure if hiring a property management company is right for you, keep reading to learn just some of the tasks they can help you out with.
1. Take care of plumbing issues
This is really important especially if you have a lot of plumbing issues at your rental home, because it can be very annoying (and expensive) to have to call a plumber all the time. With someone to manage your rental properties, they will take care of it and you don’t have to worry at all.
2. Fix electrical issues
Electrical problems are definitely an emergency, so even if a tenant calls at 3 in the morning and requests assistance because the lights aren’t working, you are responsible for getting someone out there to fix the issue. If you are in business with a property manager, you can forward this call directly to them and you don’t have to worry about missing any sleep.
3. Get rid of pests
One of the worst things about having rental properties is the annual complaints about bugs, like ants or other seasonal critters that usually appear at the same time every year. If you are sick of taking care of these problems, direct the issue to your property manager so you don’t have to think about it and you can worry about managing other aspects of your business.
4. Collect rent
Getting rent money from each of your tenants every single month can be annoying because people aren’t always willing to pay, especially if funds are tight. It can be awkward and stressful to run around getting everyone’s money, so one of the best solutions is to simply forget about it and just take it to your property manager.
What are your thoughts on whether it is worth it to hire a property management company? Have you ever hired someone and were you happy or disappointed with your choice? Would you recommend it to someone who is tired and overwhelmed with everything they have to do? We would love to hear from you, so please share your thoughts with us and join the conversation by leaving a comment below!