A property manager is an essential component when it comes to protecting your real estate investments. To put it simply, this is a professional who prioritizes the welfare of your property and your cash flow. Some investors prefer to manage their properties themselves, and that’s okay, but today I’d like to share three significant considerations in the decision to hire a property manager. Let’s take a look:
1) Perform regular preventative maintenance checks of managed properties. There’s an adage that says, “An ounce of prevention is worth a pound of cure.” The same is true for your real estate investments. Your property manager can be your “feet on the ground,” ensuring that any repairs are carried out correctly and that your investment remains in good condition.
2) Take care of issues, so you don’t have to. A well-qualified property manager assists in minimizing the nuisance and impact when challenges arise, as they inevitably do. Open communication is one one of the best tools, enabling your property manager to resolve issues with adjoining landowners or tenants. It’s also one of the most important characteristics of a high-quality property manager so that you’re in the loop when things occur.
3) Screen tenants properly. Specific tenant requirements such as rental history, credit scores, and background checks ensure that your investment property remains rented by great tenants. Dealing with all of these layers can be a challenge, but it’s something that your property manager does every day.
A good property manager not only helps find tenants, but she also resolves issues and helps preserve the property’s value through preventative maintenance. If you have questions about how I help investors manage their real estate investments, call or email me anytime. I’m always here to help.