Benefits of working with a property management company

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Owning rental property can be a great way to supplement your income. Unlike paper investments, property tends to hold its earning power no matter what the economy is doing. After all, people will always need places to live. However, owning property also comes with responsibilities. You need to keep the rental house well maintained. You need to be available for emergency repairs and you need to collect the rent money. All of these things take time, time you may not have considered when you jumped into property ownership. That's where hiring a property management company can help.

  1. Clout. While a single property owner may just have one or two properties, a property management company generally represents scores of rentals. Because of this, they are likely to be better known in the community than a single owner and thus attract potential tenants with their name and their advertising, giving you more clout with good tenants than you would have on your own.
  2. Time savings. A property management company will handle calls from prospective tenants, show the property, make arrangements for repairs and maintenance, and collect money, saving you hours of time you can spend on your primary job or with your family.
  3. Easy finances. When you work with a property management company, they handle the finances. They collect the rents, add late fees if necessary and send you one check each month for all of your properties, less their fee and any expenses. It's that simple. For tenants, a property management company makes paying their rent easy with online payment options.
  4. Greater sense of security for tenants. Hiring a property management company isn't just good for you; it's good for your tenants as well. They'll have a greater sense of security when they know there is someone on call all day every day if the event of a building emergency, such as a malfunctioning toilet or furnace.
  5. 24/7 availability. With a property management company, you don't have to worry about being out of town on business or on vacation if something happens at one of your rental properties. You'll know that the management company will be there to handle anything that might occur.

While working with a property management firm may not be the right decision for every property owner, such companies offer a myriad of benefits both to the owner and to the tenant. Contact a local property management company like East Valley Property Management today.