Many aspiring landlords believe that owning rental property will be a dream come true. You get to sit back and collect the rent — automatically of course — while your tenants take the utmost care of your property and look after it as though it were their own. You retire to a beach in the Caribbean, and the tenant continues to occupy the property forever.
Unfortunately though, two or three months into it all, reality comes crashing in. Instead of rent being deposited directly into your account every month, there’s the tenant who refuses to pay. And there are the three o’clock-in-the-morning phone calls alerting you to the running toilet. And of course, there’s the daunting task of trying to keep the occupancy rate higher than the vacancy rate.
Before too long, your dreams can turn into a nightmare. That’s where commercial property managers come in.
A property manager is a great way to make life as a landlord much easier. For many time-crunched agents and brokers, this is what makes owning a rental a possibility in the first place.
If you’re a landlord, or are considering investing in a rental property, here are just a few reasons that you need a property manager.
They Know The Market
A reputable property manager will have a solid understanding of the current rental market, including how much rent you can get for your specific property. Whether you are a part time property investor who may not be up to speed on what renters are willing to pay for rent, or if you own several properties and have your hands full with other business, you can rely on your property management firm to keep you well informed on how to get the best return on your investment.
Day To Day Maintenance or Repair Help
With a property manager, you don’t have to be the on-call maintenance person/gardener/pool boy anymore. Your property manager will perform routine maintenance for you, preventing small issues from getting out of control. When repairs are in order, the property manager will show up on-site at the first sign of trouble, and solve the problem at the best price.
Keep Your Thumb On Your Property Without Having to Be There
Whether you’re a long-distance landlord or just down the block, keeping a close watch on your property is important. A property manager will be able to keep the property well-maintained.
No More Wake Up Calls
There’s a problem at the rental, and as the landlord, it’s your job to fix it. With a property manager, you’ll be able to say goodbye to late-night emergencies. When a problem arises, the property manager will get the call and respond accordingly.
Find And Keep Good Tenants
With any rental property, the more time it sits empty, the less income the owner is able to bring in. Using a property management company can make a big difference in keeping your property leased as much as possible. Not only will the company do their best to keep a current lease, but they also have the skills and experience necessary to find good tenants.
If you would like help managing the day to day tasks at your property, contact our property managers in Los Gatos at mavenmc.com.