You bought a rental property for the passive income it would provide. But now the tenants are causing problems, and it's taking a lot of time and effort to manage the property.
What can you do? The best solution is to hire a property management company. They will take care of everything from moving in new renters to maintaining your home.
Best of all, you won't have to deal with the headaches of being a landlord. If you are wondering about the benefits of working with a Redwood City area property manager, this short and simple guide is for you.
1. Find and Screen Good Tenants
A great tenant can be the difference between a successful rental property and one that is not. With a great tenant, you'll have fewer legal problems, less turnover, and more money in your pocket.
An excellent property manager will screen potential tenants and find the right fit for your home. They'll make sure that the potential renter has good credit and income, a steady job, and a good rental history.
2. Handle the Day-to-Day Details
You may be the landlord, but that doesn't mean that you want to handle every problem that arises. That's why you work with a property manager. They will handle all the day-to-day details, including:
- Creating a plan to decrease tenant turnover
- Responding to tenant concerns and issues
- Managing vendors
- Handling lease renewals
This will give you more time to deal with your other business needs. It also means that you can focus on the bigger picture, such as generating maximum income.
3. Take Care of Property Maintenance
Handling maintenance can be time-consuming and stressful. However, if you want to keep your tenants happy, you must make sure that the property is well-maintained.
A property management company can help you with this. They will take care of all the basic maintenance, as well as any major repairs that your tenants need.
This will allow you to focus on other things, such as improving your property's value. It will also encourage long-term tenants, which can have a positive impact on your revenue.
4. Ensure That All Financials Are in Order
A property manager can help you keep track of all your financials. They can also help you make sure your books are in order, which will make it easier to manage the property.
They will provide you with regular financial reports so that you know exactly what is going on with your property. This will help you avoid any surprises, such as major expenses or losses.
A Property Management Company Can Benefit You in Multiple Ways
Hiring a property management company is a great way to save time, money, and stress. They can help you manage your property more efficiently, find high-quality tenants, and help you avoid financial issues. Choose a company that is experienced with managing properties so they can provide you with the best services possible.
PMI Redwood Realty is part of a larger franchise that's been helping property owners like you for over 20 years. If you are thinking about hiring a property management company, contact us today!
