A lot of landlords and investors want to know what exactly a Redmond property management company does for the owners it works with. A good property management company will limit the owner’s liabilities and make sure the property is performing at its best. This is done in several different ways.
Leasing the Property
Property managers can provide you with a rental evaluation, letting you know what your property can rent for. They will put together the marketing, and show the property seven days a week, often multiple times per day to keep vacancy rates down and find a great tenant as soon as possible. Property managers execute leases on your behalf, and screen tenants thoroughly to make sure they are high quality. Many companies have resources and affiliations with relocation companies and relationships with tenant pools that an owner otherwise would not have access to. This allows them to rent your property faster and to a higher quality tenant than you may be able to do on your own.
Ongoing Property Management
Once leases are executed, property managers conduct move-in inspections and make sure the security deposit is collected and held in the proper trust account. On an ongoing basis, your manager is available for any lease enforcement issues. They represent you and interact with tenants. They also take care of all accounting that’s associated with your property and make sure rent is paid on time. Your manager will coordinate and respond to any maintenance issues that come up. You’ll get a 24-hour emergency service so that if the tenant is locked out in the middle of the night or a tree falls on your property, someone is there.
Providing Peace of Mind
The role of a professional property manager is really to take the stress out of owning rental properties. Find someone who is trusted in the industry and with whom you can have a good working relationship. If you do that, it’s worth the money to hire a good property management company instead of going it on your own. Often, they will take care of issues before they escalate, and they can keep you out of troublesome situations.
Owning rental properties can be a wonderful investment when done correctly. If you have a solid property management company as a trusted resource, rental property investment can even be enjoyable.
If you have any questions concerning anything related to property management in Redmond, please contact us at SJA Property Management.