Finding it hard taking care of your rental property on your own? Have a problem tenant you can't evict? Struggling to find a reliable contractor for repairs? It sounds like you need the helping hand of a property manager. Owing an income property can be way more work than you imagined. There's tenant disputes, maintenance requests, rent collection, bill payments, as well as listings, screenings, and showings to deal with. It can all be too much if you already have a day job and a family. But with hired help, you can enjoy your monthly payments without all the stress and hassle of managing it on your own. And that's not all!
Here are seven benefits you get when you rent from a professional property manager.
A property manager can take care of all the tenant correspondence and maintenance tasks for you. This can be especially helpful when you don't live on-site at your investment property. Having a property manager can free up travel time and give you the freedom to enjoy your life knowing everything is being taken care of for 24/7.
You can also count on a professional property manager to take care of all the maintenance requests for your property. They will have a large network of preferred vendors that they can reach out to when something needs fixing or replacing. This often coincides with better pricing and more quality work that will save you money over time.
A thorough screening process ensures that you only get clean, reliable, and trustworthy tenants. A PM knows how to quickly weed out the problem tenants and find the tenants who pay on time, rent longer, and cause fewer problems.
Less Legal Issues
It only takes one problem tenant to cause a serious legal headache. A trained professional property manager knows everything about the landlord-tenant act and how to apply to the tenant board. They will ensure that you don't have to spend time worrying about legalities.
A good property manager will have access to a number of marketing and software platforms that can attract renters quickly so there'll be minimal downtime. They'll also determine the most appropriate rental rate and improve your property, so you're not waiting long for a new tenant.
Higher Tenant Retention
When you have a great tenant, it's a risk to let them go. The turnover process involves re-painting, changing the locks, upgrades and repairs, as well as screening, marketing, and showing the property again. A good property manager will know how to keep quality tenants happy and eager to extend their lease.
Another reason why you should hire a professional property manager is their ability to help increase your rental income. Price analysis, market reviews, preventative repair, and quality vendor contracts, are just a few of the ways a competent property manager can improve the level of income you receive.
You get less stress along with more time and freedom when you have a property manager by your side. When you're ready to invest in the future of your rental, contact us at Rent in Ottawa Property Management! We're ready to offer you the best in property management service.