Managing a property alone is a 24/7 commitment. All your time gets eaten up with marketing and research. You have to be ready for maintenance requests to pop up at any time.
This goes from difficult to almost impossible for those who live far away from their properties. Calling in the right professional makes sure they're taken care of.
Read on to learn what a property manager can do for you.
Rental properties are a product and need to be marketed as much as any other. A property manager does this by working with photographers and videographers. They'll add them to real estate listing sites and social media.
They also know how to prepare the property for a showing to a potential tenant. They're the guide that shows off its best parts and provides a human face if the owner is away.
Find and Screen Tenants
The current rental vacancy rate is 6.3%. Every moment that a property sits empty is a loss for your real estate investment.
A property manager can help turn this around. The average property is on the market for 52 days, but they understand how to fill vacancies as quickly as possible.
There are times when finding the wrong tenant is worse than having none at all. That's why tenant management begins before they even move in. The manager screens them by checking their:
- Criminal record
- Eviction history
- Employment history
- Rental history
This helps make sure that they'll pay rent on time and won't disturb others on the property. Only 52.3% of renters renew their leases, so the manager also has to work to keep them. This involves steps such as adding amenities and setting proper rent rates.
Set and Collect Rent
Setting the right rental rate is an art. A property manager will constantly look at the local Jacksonville real estate market to see what similar homes in the area are going for.
The next step is rent collection. They'll efficiently collect from every tenant, either in person or through technology. They also know what to do when the property becomes one of the 5 million households currently behind on rent.
Handle Maintenance Requests
Landlords shouldn't work alone, and neither should property managers. They need help from professionals in property upkeep, including:
- Animal control officers
They have access to these professionals through an in-house team or their insider knowledge.
Rental tenants expect problems like leaky toilets or broken bulbs to be fixed quickly. The extra speed a manager and their team provide keeps them happy. It also prevents further damage and keeps the property presentable if it ever gets rented out to a new tenant.
Property managers aren't lawyers, but they are versed in each state's real estate laws. They know the local standards that regulate areas such as:
- Security deposits
- Fair housing and discrimination
Their knowledge can protect you from fines or a nasty legal battle.
Find a Property Manager
A property manager is a property owner's right-hand man. They help market properties, screen tenants, collect rent, handle maintenance requests, and avoid legal issues. They can even handle properties in different states.
Nest Finders has a results-driven team with years of experience in the Greater Jacksonville area. Reach out to start working with our property managers today.