If you own rental properties, you might want to hire a property manager to help you. Take a few moments to review the following ways a property manager can assist you.
Collection Of Rent And Late Payments
Some tenants may not always submit their rent payments on time, so someone has to get in touch with them and possibly go and collect the rent in person. There is also the matter of applying late charges to what is due and collecting that as well. In some cases, it can be very difficult to make arrangements with tenants who are past due in order to get them caught up. A property manager would be able to handle all of this for you so you can spend your time dealing with more pressing matters.
Giving Eviction Notices
You cannot allow your rental properties to go without making any money. Therefore, when there is time for an eviction, you might want to let a property manager handle it for you, especially if you have a soft heart or simply prefer to avoid confrontation. Your property manager can mail and post eviction notices to the property door. If the tenants do not remove by the date on the eviction notice, your property manager can file with the local court in order to have a judge grant an eviction. In most cases, the property manager can also go to the eviction hearing to represent you.
Ensures Properties Are Maintained
All repairs must be completed in a timely manner when you have tenants living in the building. Whether it is a bad toilet that needs to be replaced or a problem with the furnace, it needs immediate attention. This means doing the work on your own or calling around to hire professional contractors to do the work for you. It may be a lot easier to have a property manager who can receive calls from tenants when they report damages. He or she can then find the best contractor for the job, make sure that the job is paid for, and that the work is completed properly.
With those few points in mind, you should be able to decide if hiring a property manager for all of your rentals is the best thing for your particular situation. All you have to do now is to make sure that you are finding the best property manager for the job.