Should You Hire a Property Manager?
The short answer is YES! Owning a rental property is a smart investment for building your wealth as well as providing you a monthly income. Whether this investment is your primary or additional source of income, there are plenty of reasons why it is advantageous to use a property manager versus trying to manage it yourself.
Why is it a good choice to use a Property Manager?
- Finding quality tenants: When you are renting to a good and responsible tenant, you don’t have to worry about property damage, late rent and more. Professional property managers have a process of vetting potential clients that will minimize these risk factors.
- Advertising and marketing: A property management company has the necessary resources to get your property on the market by writing ads, using pictures, and featuring the unique assets of your property. They also can advise you on cosmetic improvements that will attract tenants. In addition, the property manager has the necessary experience to establish the most appropriate rental rate.
- Repairs and maintenance: A good property manager has established relationships with vendors, repairmen, and contractors that can provide repairs and maintenance to the property when necessary.
- 24/7 availability: Related to repairs, if there is a pipe that bursts in the middle of the night or some other emergency, the property manager is alerted, not you. However, you will be updated with the situation during business hours.
- Rent collection and eviction policies: A good property management company has an effective system in place for collecting rent as well as ensuring that the rent is paid on time. The same is true if it becomes necessary to evict a tenant. In addition, this keeps you from finding yourself in an awkward or adversarial position.
- Compliance with property laws and regulations: There are a number of federal, state, and local laws and regulations relating to renting a property. The property manager is required to be licensed in the state of Florida, and therefore will have a working knowledge of all current requirements. The property manager will ensure your property is in compliance with all of these laws and regulations.
- Less stress and more time for you: A property manager will take care of all the details of your rental property. This naturally reduces your stress level and affords you time that you would otherwise be spending on those details and issues.
David M. Burks Property Management Inc. is here to give you both peace of mind and confidence that your Tallahassee rental property is in good hands. We handle and resolve all the above-discussed points and issues, so you don’t have to. We look forward to working with you and helping to build your investment. Give us a call at 850-765-5864.