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Ways a Property Manager Can Help with Hassle-Free Property Rentals

Ways a Property Manager Can Help with Hassle-Free Property Rentals

Landlords who hire property managers find that it makes their lives easier. A property manager assumes many responsibilities that a landlord would otherwise have to tackle alone. Being a rental property owner is a high-stress job, demanding a lot of time and commitment from the landlord. Recent events, including the Covid-19 pandemic, have made the rental business more complicated, leaving landlords feeling pressured and uncertain if they want to remain in the industry.

Hiring a professional property manager makes a significant difference for landlords who realize that operating privately is not working for them.

Here are ways that having a property manager helps landlords to profit from their rental homes without additional stress:

Marketing and advertising

According to managers at a Colorado Springs licensed property management company like Evernest, A Cut Above Property Management, or Around the Block Realty, marketing, and advertising rental properties is one of the most vital functions a property manager assumes on the landlord’s behalf. Evernest’s team of professional, licensed agents understands the importance of listing rental properties on platforms that reach the widest possible pool of potential tenants. They pay attention to advertisement content, including wording and photographs, to ensure several candidates apply to rent the home. Evernest has an established presence in Colorado Springs, Denver, Fort Collins, and Boulder.

Agents at large property management corporations like Pinnacle Property Management Services and Greystar Real Estate Partners LLC agree that a rental property listing either makes or breaks the transaction. Professional property agents know which platforms to use when advertising a rental home. Their experience also includes drafting advertisements that will attract suitable tenants. They use extensive resources to create marketing tools to get prospective tenants interested.

Tenant selection

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Having created advertisements that reach hundreds of potential renters, interested parties apply to rent the home. A property manager knows better than to accept the first person who applies to rent a home. They work with several applicants, allowing for selecting the best possible candidate. Property managers follow stringent processes to screen and vet potential tenants to ensure their suitability. It helps them find ideal tenants who will stay in a rental home long-term, pay their rent, and not incur undue damage repair expenses.

Among the things a property manager does during the screening and vetting process is contacting an applicant’s employer to verify their employment and salary. The agent also speaks to an applicant’s previous landlord to determine how they behaved as tenants at their last residence. An additional step is subjecting the applicant to a credit history check. This stage is critical as it impacts the tenant’s ability to pay the rent and paints a picture of how responsibly they treat debt. Someone who is overindebted or does not pay their debts is a risky proposition as a tenant.

Lease enforcement

A property manager’s core duty is to ensure that landlords and tenants adhere to their responsibilities as stipulated in the rental agreement. Among the tasks they must complete is ensuring that rent is paid on time each month. Many agents insist on scheduled, electronic payments to minimize how much time they spend chasing tenants to get their money. However, that is precisely what they will do if someone fails to pay. Agents are tasked with collecting rent and must do so by any legal means necessary.

A property manager also conducts regular inspections of rental homes on their books. They perform routine checks to ensure that everything is in working order by appointment with the tenant. Their most intensive inspections occur when a tenant assumes occupancy and vacates the premises. This process plays a vital role in determining whether a renter should get their security deposit back.

Repairs and maintenance

A property management company that oversees repairs and maintenance relieves landlords of their most burdensome problem. Most rental owners agree that the rate at which things go wrong on the rented property is alarming. Many fields call at all hours to deal with blocked pipes, leaking roofs, and structure damage. Having a property manager take care of this aspect of being a rental house owner gives landlords room to breathe.

Property agents responsible for repairs and maintenance ensure that everything at the rental is working as it should. They undertake routine maintenance to ensure that minor problems do not become massive, expensive ones later. Property managers work with contractors and providers who deliver outstanding workmanship at cost-effective prices.

Managing tenant relationships

Landlords and tenants often butt heads because they build a personal relationship instead of keeping their interactions professional. This tendency complicates the relationship, leading to much unpleasantness that can be avoided by hiring a property manager.

Property managers serve landlords and tenants, protecting their rights and ensuring they fulfill their obligations as included in their rental agreement. Agents work as a bridge between landlords and tenants, keeping emotions out of the equation. They maintain cordial relationships with both parties, behaving professionally throughout their interactions.