Whether you purchased an investment property or became an accidental landlord, you can find yourself wearing a lot of different hats. While some can do it themselves successfully, even more struggle with finding the right tenants, staying compliant with local and state laws, and in the unfortunate event, dealing with evictions. Here are five advantages to hiring a Property Manager:
1. They save you money
The time you spend managing a property could be taking away from your other job or from looking for other investments. When you factor in all of the things a property manager does and the time they save, it’s well worth outsourcing.
Plus they are skilled at collecting rent or dealing with evictions – things that could cost you a lot of money if not acted upon quickly and correctly.
2. They’re compliant
A Property Manager has to make sure their clients leases, contracts, etc. are all compliant. Staying up to date on licensing requirements, local ordinances, and state laws and regulations can be a major undertaking. Those who do not have extensive experience doing property managment could make a costly mistake like being accused of discrimination because they did not understand the Fair Housing laws.
3. They are available when you’re not (or don’t want to be)
At Mosaic Property Services, we are set up with a 24-hour emergency service that covers things like heating, electrical or plumbing. Not only do you save yourself the 2 AM call but we have a great list of well vetted contractors and vendors that we have worked with for you.
We track each repair and maintenance item we do for your property so you can easily track the profit of your property.
4. They vet my prospective tenants
Property Managers can make sure you get the right tenants. They screen for things like credit history, evictions, and criminal background checks. Good Property Managers are skilled at finding the right tenants quickly allowing you to start bringing in income as soon as possible.
5. They are there in stressful situations
Dealing with evictions, complaints, and maintenance issues can take a toll on you. Property Managers are skilled in this area and how to handle situations in a calm and professional manner while having an understanding of landlord-tenant law.
Hiring a Property Manager allows you to focus on what you do best while giving you peace of mind. We have been managing properties for over 25+ years at Mosaic Property Services. If you’re interested in our services or want to learn more, please contact us at [email protected] or (352) 414-5339.