There are two types of rental managers: large corporate operations, and mom-and-pop landlords. It was the first thing you learned when you bought an investment property.
Your second lesson was more subtle. You've realized you need a landlord rescue because you're having trouble keeping up with all your properties in Davie, FL.
One location has various maintenance requests piled up and you need help finding tenants. These are just two signs that you need a property manager.
There are other signs that you should consider hiring a property management company. Read on to learn more about employing management services.
You Live Far From Your Investment Properties
The fantastic thing about having a real estate portfolio is that various properties provide income. Issues occur when those properties are scattered across different cities or states.
For example, you have a few rental homes in Davie, Florida. But you also have tenants in Charleston, South Carolina. Trips to Charleston take plenty of time, money, and energy.
It's easier to place a property manager in charge of each rental. You'll have someone handling maintenance requests, tenant complaints, and legal matters.
You Lack Legal Knowledge
You need a landlord rescue if you lack legal knowledge. There are inspection rules, fair housing guidelines, building codes, and security deposit guidelines you're expected to follow.
At best, a refusal to follow these rules results in pricey fines. The worst you can expect are legal battles -- which are even more expensive.
You have to keep reviewing them too, as they change with time. A professional property management company will already know these laws.
Their expertise helps them avoid mistakes. A property manager will also have management strategies to increase profits while staying within the rules.
Finding Tenants Is Difficult
You can't make money if there aren't tenants. But finding renters can be complicated. You must know how to sell your property and attract good tenants.
However, tenant screenings can take weeks -- taking valuable time from your schedule. A property manager can locate renters likely to pay on time and won't disrupt their neighbors.
Property managers can find tenants faster due to their experience and resources. Of course, even good tenants sometimes have conflicts. A property manager can defuse disputes with their communication skills.
You Have Trouble Finding Vendors
Finding good tenants is vital, but your properties in Davie, FL, need competent vendors too. Maintenance isn't possible unless you've got reliable contractors helping with upkeep.
Locating vendors on your own takes time and money from other tasks. It also increases the chances of finding inexperienced or untrustworthy ones. A management company will have a network of vendors to choose from.
Getting Stressed? Get a Landlord Rescue
Perhaps the most obvious sign you need a landlord rescue is that you're stressed by owning an investment property. PMI Best Assets is a full-service property management company with over 20 years of experience.
We offer various management services. Tenant screening, maintenance, rental collection, marketing, and more are a few services we provide throughout Davie, FL.
Contact us whenever you're ready. We're open 24 hours a day, seven days a week.
