7 Ways Property Managers Can Help Property Owners

Owning and managing rental properties can be very time consuming. Thanks to technology there are many online sources, Apps, and programs that can make managing a real estate portfolio easier. A property manager can be a valuable asset to any landlord who wants to minimize their headaches and maximize their profits.

The tasks that a property manager performs are based on the property owners needs and they are trained and prepared to assist owners in many ways.

Here are a few ways a property manager can help owners of rental property:

• Keeping property vacancies at a minimum: Property managers use a variety of methods to locate qualified tenants for property rental. Their goal is to keep properties rented with income coming in. The property owner can relax and have peace of mind when their properties are rented.
• Screening and selecting prospective tenants: Property managers have the experience, expertise and technology to screen tenants for employment, income, eviction history, criminal history, financial stability, and rental history.
• Preparing necessary contracts and agreements.  Property managers will prepare rental or lease agreements representing both the landlord and tenant. They will be responsible for making sure the rental agreements are legally written, signed and binding for all parties involved.
• Management of rental income: Property managers will collect rent payments via procedures they have set in place which can include mailing, delivery or electronic payments. They will also handle collections for nonpayment of rent.
• Oversee maintenance and repairs: A property manager will manage incoming maintenance or repair requests from tenants, inspection of issues, scheduling of repair or maintenance service, and payment for repairs.
• Property monitor: A property manager will oversee the property to see that it remains in good condition and address any complaints from the tenants.
• Reporting to Owners/landlords: Reporting income, expenses, and financials to owners.

Whether you are new to being a landlord or a seasoned landlord, you may want to enlist the services of a property manager to assist with landlord tasks.

Do your research and check references. Select a property management company that has a good reputation.