Do You Need a Property Management Service
Do You Need a Property Management Service?
Leasing out your property for rents might give you a nice additional monthly income. However, it also has a great potential to give you a constant headache. A good property management service can intervene and make your life easier by doing property management tasks for you. These are the four most outstanding services that a property manager could provide you.
You could spend valuable time posting up your property in Craigslist or at community board, or you can let a capable property management service to handle it for you. It could be a mundane task, and a professional with connections might get it done in a faster and more efficient way than you could, so why not? Some property management firms will not charge you for the months that the property is vacant, so you do not pay for months when you are without tenants. However, this varies greatly between companies. Make sure you discuss about this with your chosen property management firm.
Screening potential tenants
Your property manager would also do the task of screening out potential tenants once they start calling. This screening would often include thorough background and credit check to reduce the risk of problematic tenants.
The maintenance of your property, such as lawn moving or broken dishwasher repair, is your responsibility as owner of the property. However, you can rely on your property manager to coordinate the maintenance for you. Your tenants would also contact your property manager directly for any problems with the property that need fixing. This would greatly reduce your day-to-day involvement with the maintenance of your property and thus saving you a lot of headaches.
With a property management service, you only need to wait for the rent check to come in the mail without the hassle of collecting and nagging your tenants for it. The amount would be less than what you would have received, had you managed the property yourself. However, the kind of relief that your property manager could provide is often more than justified the property management fee, which could be anywhere up to 10% of the property monthly rental.
All in all, there are many advantages to hiring a competent Pinellas Property Management service. Sure, they come at a cost to you; however, it is much justifiable when you think of the convenience that it could give you.