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Why You Should Turn To a Property Management Company?

Real estate and property management pretty much go hand in hand. Without a property manager, the day to day responsibilities of an estate can go haywire. Here are a few good reasons to hire a property management company.

What a Property Manager Does

  • Deals with tenants on the property owners’ behalf
  • Resolves tenant complaints
  • Keeps the property well maintained
  • Makes sure that the property is in compliance with the law
  • Manages income and expenses, such as collecting rent

Invest in a Property Management Company When…

  • You have multiple properties/rental units and are unable to manage each one of them.
  • You stay far away from the rental property and cannot carry out day to day maintenance of the property.
  • Real estate is your side business and not a full-time job.
  • Hands-on management isn’t your cup of tea.
  • Time is a constraint for you.
  • You wish to earn a few extra bucks from affordable housing programs.
  • You are willing to pay the management company approximately 5%-10% of the rent revenue.

How to Contract a Property Management Company’s Services?

  • Obtaining recommendations from a local apartment association can be of great help when searching for a property management company.
  • Explore professional directories and websites on the Internet.
    • Institute of Real Estate Management (IREM)
    • National Association of Residential Property Managers (NARPM)
  • Interview a few property management companies before arriving at any conclusion.
  • After selecting the manager, request an agreement that clearly states his/her duties.
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