Rental property can bring in a lot of income if you are going about it in the right way. However, it can also bring a lot of headaches with it if you are not careful. Therefore, you might want to take a moment to think about the benefits that would come from hiring a property manager for all of your rentals, whether you have one or ten of them.
Shows Available Properties
When you have a property that is available for rent, you need to be available to show it to prospective tenants. Of course, this might be hard to do if you are generally a busy person. This is where the property manager helps. He or she will show the property, provide potential tenants will rental applications, and perform background and credit checks if you require them.
Collects Late Payments
There is not much that needs to be said when the rent payment is on time. However, once the due date comes and goes, you are going to need to make sure that you are being a little persuasive so that you are not only getting that payment, but so that you may not have to worry about this becoming an ongoing issue with that particular tenant. Your property manager will call, send letters, and even show up at the front door if they have to in order to make sure that the rent is collected. Since this requires a certain amount of toughness, it might be best to let the property manager handle it, especially if you are someone that tends to have a soft heart.
Files Eviction Papers
Sure, you might have to appear in court, but in many areas, your property manager is able to represent you as this is his or her job. Regardless, your property manager is able to put the notice of eviction on the door, send letters to the residence, make phone calls to the tenants, and file the legal eviction paperwork with the local courts if the tenant is not out of the residence by the allotted time.
Calls In The Repairmen
When a tenant makes a complaint that there is something going wrong with the property, it is up to the property manager (such as one from CNY Property Management) to call in the best professionals for the job. Whether there is a need for a plumber, roofer, electrician, or pest control agent, your property manager will know who to call for assistance. He or she will also be in charge of scheduling times for repairs and will be there to inspect the finished result to ensure that no more work is needed.
As you can see, the property manager will take over the day-to-day chores that comes with investment properties. You simply get to sit back and collect the money earned by your rentals.