Top 10 Reasons to Hire a Property Manager (cont.)
10 Top Reasons to Hire a Residential Property Management Company (cont.)
4) Marketing Expertise: PM’s have years of experience in how to best market your properties so they are rented in the quickest time possible. PM’s use both offline and online marketing to maximize your properties’ exposure and find qualified tenants quicker. Most PM’s utilizes 10, 20 or even 30 different techniques to rent a property quickly which reduces your carrying cost of a vacant property.
3) Tenant Screening: A PM requires a detailed written application from each adult with photo identification. Additionally, PM’s will run criminal, social security and public notice (bankruptcy or judgments) searches to determine if the application is accurate. PM’s will also call past and present employers, landlords and other references. PM’s have set requirements and standards for accepting or declining an applicant and thereby ensuring you comply with fair housing rules and other local and state regulations.
5) Property Law and Regulations: PM’s have extensive and up-to-date knowledge of property laws and regulations and will assist you in making sure you are in compliance with your local, state and federal rules and regulations. These rules and regulations include complying with fair housing regulations, the Americans with Disabilities Act and other applicable local, state and federal laws. Avoiding one law suit will more than pay for any PM’s fees many times over.
See tomorrow’s blog for reasons 6, 7, & 8.