If you’ve ever wondered if the headache of managing your own investment properties is worth it, you’re not alone. A recent survey of landlords by the home improvement company Porch found that 88% had experienced stress in renting out their properties
But the solution isn’t to divest or grin and bear it. Hiring a property manager can help alleviate the stress and potentially improve the financial health of your investment. Here are four examples of ways a property manager can make life as a landlord easier.
Property Managers are Experienced in Handling Tenant Disputes and Issues
Nonpaying tenants, evictions, and altercations between tenants are just some of the major headaches of being a landlord. A property manager will be able to handle those issues in a professional manner with as little stress to you as possible.
Property Managers are Versed in Real Estate-Related Regulations
Do you know how federal fair-housing laws apply to you and your property? Do you know if there are local anti-discrimination ordinances? And do you know what you can and can’t ask about requests for assistance animals? Property managers do. Hiring a property manager can help you reduce your legal risk and remove the need for you to stay on top of complicated regulations.
Property Managers Are On-Call so You Don’t Have to Be
Whether it’s a 3 a.m. plumbing emergency or a last-minute showing, you’ll be relieved to have a professional handling time-consuming or inconvenient tasks instead of them falling to you.
Property Managers Can Benefit Your Bottom Line
The fees associated with hiring a property manager can be offset by timely payments, competitive rents, low vacancy, and other benefits of professional management. Property managers often have case studies that show how they’ve helped other properties and what they may be able to do for yours.
Reduce your stress and boost your investment by contacting a REALTOR® who specializes in property management.