As a Property Management Company owner, I get this question many times weekly and often once a day. After eight years of offering property management solutions, I think property managers give several significant advantages right from landscaping to Roof Repairs.
First on the list would need to be time-saving. There’s a whole lot that goes to discovering a resident and obtaining a property leased out. Merely to list a few, getting a house rental prepared, marketing the house on each one the websites, showing the house. Assessing records, charge, and references to the offender, signing rental agreements, doing Move-Inspections, managing care request, scheduling repairs, and collecting rental payments, and doing security and property preservation reviews.
Next on the list would need to be periodic land preservation inspections. A bit neglected maintenance can become a significant fix quickly. Forget to clean out the gutters along with the $65 gutter cleaning will become a $5,000 fix because of substituting a 15-foot section of wall studs and outside siding. I merely oversaw a repair $15,000. An overlooked crack in bathtub grout will become a3,000 new bathroom flooring. This list can go on for days.
Let’s not overlook accountability. Lawsuits against leasing property management firms isn’t a rare event. Happens all of the time. I got a call from a person who had been seeking $5,000 repayment in hospital bills. In the long run, come to discover, he was drinking all night when visiting with our residents and dropped while running and slipping on the ice at 4:00 am. When you employ a certified and insured property supervisor, you buffer yourself from liability.
Employing a property management firm shouldn’t be a cost. Most management companies have in-house care and repair individuals who can work significantly less than you can hire a person. Our firm has negotiated prices with our builders which are much less than you’d pay. This isn’t unusual. These savings funds for the management charge in the long run.
Keeping your sanity is possible. This isn’t a real company and coping with a fixed issue on Friday day could be downright aggravating. It is 30 degrees out, and a call comes in to get an HVAC system that’s not functioning on Friday morning. When it isn’t fixed by that day, the price will go up 50% when it must be repaired on the weekend. You can not expect that the resident to go so long without heating.
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Sam writes for Tsrd.com.au and holds seven years of experience in Property Management in Sydney. He is also an avid blogger and likes to travel.