Possessing the means to buy investment property doesn’t always indicate that you have the time, experience, or training to perform the essential services of a property management company. Managing residential or commercial investment property adeptly practically demands multi-faceted experience and training. Learn five ways a property management company protects your investment property, as follows.

What is Property Management?

Property management is a third party maintaining the overall operations of a commercial retail or residential property for the property owner. Property management involves handling all related matters, from day-to-day tasks to monthly duties and emergency situations. A good property management company keeps tenants happy in order to maintain low vacancy rates. Primarily, however, the best property management companies ensure that a property generates the best return-on-investment possible. Maximizing the owner’s investment requires a property management company with experience, knowledge, and beneficial local connections.

Checklist of the Value of Property Management

When you hire the right property manager, it is valid to consider the hire an investment, not a cost. Property management benefits often fully pay the cost of hiring the company. The following are some of the ways a skilled property management company awards investors, with further details below:

  1. Rents are collected from tenants.
  2. Time is spent taking daily maintenance requests and handling the requests in a manner that is beneficial to the owner and tenant.
  3. Property managers deal with late-paying default tenants and evictions.
  4. Experienced property managers limit vacancies through skilled marketing and tenant screening.
  5. Investment owners are kept in-the-know about what’s happening at their property because property management companies maintain detailed records of everything that occurs.

Rent Collection

Although collecting rent is often a battle for individual owners handling their own rent property affairs, experienced property management companies have processes in place that greatly reduce delinquencies on rental payments.

Property Maintenance

Various vendors are needed to handle the multitude of details involved in property maintenance. Property management experts offer the added benefits of knowing which vendors deliver dependable services at reasonable prices. Property maintenance may involve any of the following and more:

  • Preventative maintenance
  • Plumbing issues
  • Appliance repair
  • Lawn care
  • Pressure washing

Tenants in Default

When a property owner deals personally with delinquent rent payments and defaults, it can be extremely stressful and time-consuming. Dealing with this type of situation is one of the greatest benefits of having a property management company at the wheel. All the legal actions involved with a default tenant are handled with ease by experienced property management companies.

Screening Prospective Tenants

The single issue that has the greatest impact on the ROI of an investment property is choosing the best tenants. Skillful property management companies have mastered all aspects of the process, including supervision of tenants moving in as well as those moving out.

Recordkeeping

Great bookkeeping and handling of invoicing are critical tax matters that often take the most pressure off of property owners. What investors appreciate most, however, is when good records give them a clear understanding of all happenings while freeing them up to handle other matters.

Contact Weaver Realty Group

Weaver Realty Group has a reputation for managing properties with skill and integrity. The goal is to achieve first-class operation of each property. Owners can count on management structures to match their objectives and tailored to the uniqueness of their properties. For the best property management on the Florida peninsula, call Weaver Realty Group at (904) 733-0039 today.