Property management is a big undertaking, which requires a lot of time which property owners may not have to spare. Having a professional property management company take care of all the issues that arise can result in a more seamless experience for all involved. We are Juniper Holiday and Home, professional, experienced property managers. Here are the top reasons you should consider hiring a property manager.
A good property management company will save you time and money by marketing and advertising for you, finding and keeping the right tenants, and keeping your property occupied. They will be able to market your property effectively, find qualified new tenants quickly, minimizing downtime and income loss due to vacancy, and providing a professional buffer between you and your tenants.
Property management companies conduct ongoing local market studies and analysis to determine market rent, in order to maximize your income and maintain low vacancy rates. Knowing where to price a property is very important in a competitive market, and a good property management company is familiar with local supply and demand, market rental rates and sale prices, enabling them to most effectively manage your property.
Property managers are familiar with federal and state laws, as well as city zoning regulations. They can ensure you are in compliance regarding discrimination in screening and choosing tenants, evictions, and avoiding lawsuits. A single lawsuit could cost you thousands of dollars, even if you win the case. Property management companies know the legal issues you may have to deal with, understand how the Covid crisis affected laws and regulations regarding landlord-tenant relationships, are familiar with ADA requirements, and can save you a lengthy, costly legal battle with a disgruntled tenant.
You will make more money in the long run with a professionally managed property. Property managers collect rents, handle any conflicts or issues that arise on your property, deal with bids and vendors for emergency and routine maintenance and repairs, and free up your time to be effective at your job and to enjoy your life and family. If you have ever dealt with emergency repair calls in the middle of the night, or spent weekends trying to remedy problems at your income property, then you are aware of the benefits to your peace of mind with having a good property management company.
A professional property manager will handle vendor relationships and oversee maintenance and repair projects to ensure they are on time and within budget. Property managers know exactly which providers have the right expertise, and provide reliable, cost-effective services. No property owner wants to take their chances with an unknown and unproven plumber, electrician, or subcontractor making repairs on their property which may or may not be to code, within budget, done correctly, or function properly.
A property management company allows owners to have properties in different locations. Managing your own property limits you to those properties within your area. Good property management affords you the opportunity to expand into areas where you may find a great investment but require local knowledge and access to manage your property.
These are some of the top reasons to hire a good, reputable property management company. Juniper Holiday And Home has the knowledge and expertise to effectively manage your rental and vacation properties, affording you the income and equity building benefits of ownership, without the headaches! Reach out to us for more information.