Whether your rental property consists of a single unit or dozens of individual rental units, the fact remains that taking on all the responsibilities of a landlord can be both a time consuming and thankless job. If you're feeling overwhelmed by the responsibilities that come along with maintaining your rental property, you may want to consider hiring a property management team. This way, you can pass along the day-to-day tasks of running your rental property while still enjoying monthly income from your paying tenants!
As you shop around for a property management company, however, there are a few specific features and services you may want to look for that will make life easier not just for you, but for your tenants as well.
Online Rental Payments
Long gone are the days of requiring tenants to hand deliver their rental checks to you. Today's tenants much prefer to be able to pay their rent online from the convenience of their smartphone, computer, or mobile device. Many property management companies these days include online rental payment, but you may need to pay a bit more for it, so be sure to inquire.
24/7 Emergency Maintenance
One of the most frustrating things about being a landlord is getting those late-night phone calls from tenants with emergency maintenance issues or accidental lock-outs. By hiring a property management company that includes emergency maintenance 24 hours a day, seven days a week, you'll never have to worry about being woken up by a tenant phone call again!
Tenant Recruiting and Screening
When your rental units sit with vacancies, you're losing out on profits. To minimize vacancies, then, it's a good idea to find a property management company that will include marketing, recruiting, and screening services for your property. This will reduce the amount of time that your rentals go unoccupied, thus saving you money down the road.
Eviction and Legal Services
Hopefully, you'll never run into a situation where you need to evict a tenant due to non-payment. Should this need arise, however, you'll want to have a property management team that can handle all the legal steps involved in this complex process. From serving the eviction notice to appearing in court as needed, this is a service many property management companies are offering these days.
A little bit of research goes a long way in finding the property management company that's best for your needs.