- They will support direct communication with tenants
No need to stress yourself out with trying to find the best tenants for your rental. Property managers are the ones to communicate with potential tenants, organize the process, and payments. A property management company also has full-time employees who market your properties all day.
- Avoiding legal problems and issues
Legal matters can be a huge problem when it comes to homeowners renting their properties. It costs roughly $1,917 for landlords to evict a resident. (TransUnion) Also, in Philadelphia County, it could take more than 120 days and up to 9 months in some cases to evict a tenant. This is including the move out process from your property.
The legal documents that Property managers have to be conscience of:
- Fair Credit Reporting Act
- Fair Housing Act
- Leasing disclosures
- Security deposit laws
- American Disabilities Act
- Rent or Late fees
- Municipality/Business Licensing
- Code enforcement inspections
- Property maintenance
Maintenance and repairing can be a challenge for a homeowner. Whether it is before the first tenant moves in, during when the residents are living in the rental, or after the tenants move out, there is always something to be fixed or updated. If there is any property maintenance during off hours, the property management company will take care of it.
- Saving money
Hiring reputable contract workers can be a challenge. Professional property management companies who have been in the business for significant amounts of time know who to contact for contract maintenance work. This can, in turn, save money for the property management company and the homeowner. Figuring out the rental pricing for your property can be tricky, working with a property management company who knows the current housing market can price rent accurately and rent quickly.