10 Reasons For Landlords to Hire a Property Management Company

ONE: Local Expertise: A Local Property Management Company will have local expertise and knowledge. They'll know the area well and be able to offer you an honest appraisal of the rental rate potential of the property. What's more, they'll know all the local vendors and suppliers that can help you to maintain your property.
TWO: Marketing Magic: Reduce the time your property is unoccupied by relying on the property management company's marketing expertise rather than the time and cost of advertising the property yourself. By adding your property to a property management company's rental listing, you can massively increase the chances that it won't be long before your property is occupied and you're making money from your rental property.
THREE: Tenant Relations: The property management company will take care of screening potential tenants, checking references and ensuring that the tenant is the best possible choice for your property.
FOUR: Law and Regulations: The rules and regulations around renting to tenants and multiple occupancy can be a nightmare and without a trusted ally. It may be difficult for you to understand how to legally rent your property to suitable tenants without advice. A company will take care of all the legal issues, helping you to rent your property without making potentially costly mistakes.
FIVE: Rent Collection: Automated banking ensures that you have the rent on time each month. If there are any problems collecting payments from the tenants, then the Management Company will take care of everything, saving you the stress and hassle.
SIX: Inspections and Inspection Reports: Property Management Companies will carry out regular inspections on the property and provide you with inspection reports, letting you know any problems with the upkeep of the property or issues that you need to resolve.
SEVEN: Deposit Management: Once the tenant makes the deposit payment, this money is kept by the Property Management Company in a non-interest bearing account. If there is an issue and the tenant's deposit is required to pay for damages or replacements, then the Property Management Company uses the deposit to reimburse you.
EIGHT: Keeping Financial Records: There's nothing more tedious than keeping financial records. A property management company will keep meticulous records of payments made by the tenants and delivered to you. You can ask for a copy of these at any time in order to keep your own personal records accurate and in order.
NINE: Deflecting Tenant Nightmares: There's nothing worse than a phone call in the middle of the night from one of your tenants as they struggle to deal with some emergency. A property management company will simply deal with the issue, sending the appropriate trades person to deal with the issue, rather than pester you at 3am.
TEN: Property Management Fees: All fees that the company charges you are potentially tax deductible like other business charges.