Property management is the effective management of your rental home from the beginning of the leasing process to the end. When you have an asset and you know you don’t have the time, the experience or the knowledge to take care of it on a full time basis, you hire a professional property management company to do it for you. We’re discussing some of the most important things that your manager will do for you.
Preparing the House and Placing a Tenant
Your property manager will take control of the home and get it ready for the rental market. At this point, you’re turning a property into a business. So, your property manager will market the home and get it out there on the web so the whole world knows it’s available to be rented. Your manager will show the property to prospective tenants and then screen any applications that come in. The screening process is vital. Your manager will check credit and background and employment, collecting financial information and verifying everything the tenant has said so you can be sure you’re getting a good tenant. Your property manager will make sure they earn enough to pay rent and will check past rental histories to ensure there have been no evictions or problems in the past. One of the biggest mistakes landlords make is not properly screening tenants.
Managing the property on a day to day basis means keeping it maintained and enforcing the lease agreement. Your property manager will handle everything with the tenant and stay on top of any repairs that need to be made. You won’t be bothered with phone calls about broken toilets. Let the property managers do what they do best, and you’ll have the time to do what you do best. Your property manager will keep an eye on your tenant and your rental to ensure the asset is not being destroyed.
Rent Collection and Evictions
Your property manager will collect rent and distribute funds to you after expenses. A professional manager can make sure the asset is performing for you. We manage the transition of the property from one tenant to another when there’s turnover. Property managers also understand the law and perform evictions when necessary. No one likes to evict, but when you have a property manager taking care of it for you, there’s little you have to worry about. We treat this as a business, and keep your best interests in mind.
Basically, a property manager takes care of your asset from beginning to end. If you have any additional questions about what we do, please contact us at Bradstreet Proper, LLC, and we’d be happy to tell you more.