Owning commercial or residential property is an excellent way to create a passive source of income, but only if you find a realistic way to manage the property. As the owner, you are responsible for finding and maintaining renters, keeping your buildings in good repair, maintaining the landscaping, and much more. If you work a day job as well, keeping track of your properties on your own may become overwhelming. Luckily, a property manager helps in a number of ways.
A Manager Helps You Find Tenants
Whether you’re renting an apartment to a family or an office building to a local startup, a property manager can help you find creditworthy tenants who have solid backgrounds. Rental management services Brevard County FL include taking tenant applications, running background checks, setting up leases for approved tenants, taking security deposits, and much more.
A Manager Helps To Maintain the Property
Even when you’re busy with your day job, your rental properties will require maintenance. Whether it’s fixing a leaking HVAC unit or trimming the property’s bushes to keep them looking nice, a property manager does all the work of hiring licensed and insured contractors, not to mention supervising them while they do the work intended. This means you spend fewer evenings and weekends handling your property.
A Manager Gets Rid of Problem Tenants
The unfortunate truth is that sometimes a tenant is good on paper but a nightmare in reality. If you have a tenant who isn’t paying his or her rent each month, who is misusing the property, or has generally become a nuisance to other tenants, you may need to legally evict them from the property. Spending hours in court is often too much. When you work with a property management company, someone can perform the task of evicting tenants for you, saving you time and stress in the process.
If you decide to hire a property manager, be sure to hire a business with a proper business license and a proven record of maintaining properties in the area.