The housing market may be on the uptick, but the younger generation — which for the most part does not have the money to buy new homes — has been increasingly interested in renting property. From 2009 to 2014, the United States property management industry grew by 3.1% every year, with an annual generated revenue of roughly $69 billion.
What is a property manager?
A rental property manager is the one who interacts with those who are willing to rent property from the owner. Hiring a certified property manager is a real benefit for those looking to rent their home for various reasons.
Property manager duties
A property manager will be able to provide maintenance on a regular basis for your house or building. This routine maintenance work makes owning a property more time efficient. Instead of the owner running around doing errands to try and fix a leaky pipe, the property manager will take on these tasks.
A rental property manager will help a property owner manage their taxes as well as keep up to speed with city laws and codes so that the owner doesn’t have to. The best property management companies will ensure that your property manager is a certified professional and can easily maintain a home.
Benefits of having a property manager
Hiring a property manager allows you, the landlord, to reduce some of your responsibilities by outsourcing them to a third party. The property manager also deals directly with your tenants, so there will be no face to face confrontations about how your rent arrived late.
Benefits of a good property management company
There are an estimated 206,328 property management firms in the nation, all of which aim to provide reliable service to home owners. These firms, if they are experienced enough, can help you lower your monthly energy bills by up to 50%. In order to reduce these costs, the property management firm analyzes your building or houses’ power needs and recommends simply, low cost upgrades, such as a new water heater or energy efficient windows.
A rental property manager is meant to make your life easier and to free up your time to enjoy and pursue other passions. If you currently want to rent out your property, do your research and find a property management firm that best fits your needs.
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