If you’re one of the many Bradenton property owners with one or more single-family rental homes, you try to keep costs as low as possible. So, when it comes to paying for professional property management, you may question whether it’s worth it. The ideal method to answer that question is probably to think about the cost of not hiring a property management company. For several busy investment property owners, the cost of hiring a property management company pales in comparison to what you would likely spend if you didn’t utilize one. Let’s examine more closely why paying for professional Bradenton property management can save you both time and money!
Time is Money
The first and most obvious reason to hire a property management company is to save you time. If you’re the same as many individuals, your time is probably already stretched pretty thin. But it may rapidly become burdensome if you’re also attempting to manage your rental properties on top of everything else. A good property management company can manage all the small details so you can focus on the most important things.
Property Upkeep and Maintenance
Another significant factor is the cost of property upkeep and maintenance. You are aware that there are specific repairs and maintenance tasks that you are legally required to accomplish. Additionally, properties must be inspected regularly to guarantee that tenants are keeping up with their cleaning and maintenance obligations. If you don’t have the time or expertise to do inspections, repairs, and maintenance yourself, you’ll have to hire someone who does. But who? Locating trustworthy service techs for all your property demands takes time – a lot of it! A property management company such as Real Property Management Sarasota & Manatee can handle all the essential repairs and maintenance for you, so you don’t have to worry about it.
Another huge burden of being a landlord is tenant management. From screening potential tenants and conducting background checks to collecting rent and handling maintenance requests, there’s a lot that goes into being an effective landlord. Good tenant relations can help reduce vacancies by retaining tenants longer and decreasing lost rental income. It can also help you save money on repairs if you motivate your tenants to report maintenance issues when they are minor and deal with them right away. However, if you don’t have the time or patience to deal with tenants, you may want to think about hiring a property management company to do it for you.
Last but not least, there’s the cost of fair housing compliance. As a landlord, you need to obey all local, state, and federal fair housing laws. This includes giving reasonable accommodations for tenants with disabilities and not discriminating against potential or current tenants based on race, color, religion, national origin, sex, familial status, or disability. If you’re unaware of fair housing laws, you could quickly find yourself in violation – and subject to substantial fines! A property management company can assist with ensuring that you always follow fair housing regulations.
As demonstrated, several valid reasons exist to employ a property management company. While a fee is associated with doing so, the benefits far outweigh the expense – particularly when thinking about all the time and money you’ll save! Contact us online today to learn more about our quality services if you’re prepared to take your rental property business to the next level. We’ll be glad to answer any questions and help you get started!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.