Tips for Hiring a Property Management Company

Posted: April 7th, 2010  

Landlords and property owners of estates of all sizes can greatly benefit from hiring a property management company or service that will significantly reduce the stress of managing their rental properties. These services can extend well beyond typical maintenance and upkeep that most landlords take advantage of. In fact, many property management companies will allow you to completely hand over the majority of the tasks associated with managing your property and day-to-day liaisons with tenants. Essentially allowing you to do little more than deal with the property management company itself and manage your own profits and finances.

Here are a few examples of the typical tasks that a property management company will perform on behalf of landlords.

One of the most productive things you can hire a property management company to do is deal with your tenants. This can include everything from advertising rental properties, handling the application process and screening potential tenants to acting as a liaison between you and the tenants. They can even enforce lease and property agreements as well as file for evictions.

A property management service can also handle all upkeep for your rental properties including interviewing and hiring contractors and/or handymen, overseeing renovations, repairs, and general maintenance, and even restocking general supplies.

Another great service that a property management company can provide is submitting monthly budgetary reports. This can make your job as a landlord much more stress free by providing you with a breakdown of expenses; deductions, revenues, and an overall look at your finances for the month. Management companies can also handle all notices, complaints, and inquires from tenants and give you a report at the end of each month to keep you informed of everything you, as the landlord, should know.

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