Property management agents handle many of the day-to-day responsibilities that come with renting out properties. This can include marketing properties, screening tenants, negotiating leases and addressing maintenance requests from tenants. Property managers also keep up to date on market trends and rental prices, ensuring your property is being rented out for a competitive price.
If you’re a landlord, then you know that one of the biggest money-eating headaches is long vacancy periods. A good property manager can help you avoid this by quickly sourcing a new tenant once your existing tenants vacate. They’re skilled at preparing the home for rent (including staging, taking photos and writing rental ads) and they have local real estate knowledge to ensure you’re setting a competitive market price.
A property manager will usually charge a leasing fee, which covers the costs of marketing your property and managing applications and tenants. This can be a flat fee or a percentage of the monthly rent.
Perhaps the most important responsibility of property managers is rent collection. They make sure that the rent is coming in on time each month and chase down late fees if necessary. If the issue is serious, they can even take care of evictions on your behalf. This is a huge burden off of the landlord’s shoulders and can save them a lot of stress in the long run. property management agents