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Property Management University City
Property management involves the oversight of commercial, residential, or industrial real estate. The individuals or companies that provide property management services take full responsibility for the ongoing maintenance, repair, security, and property upkeep. Regardless of the type of real estate you’ve invested in, you can take full advantage of all that property management has to offer.
What Is Property Management?
Whether a developer has just completed a project or the property owner wants to delegate the tasks involved with managing the property, all property management tasks can be handled by an outside company. The primary responsibilities of a property manager include:
• Collecting rents
• Screening prospective tenants
• Signing and renewing all leases
• Maintaining properties, which includes routine upkeep/services and performing landscaping
• Understanding national and state landlord-tenant laws
• Performing marketing on properties
• Creating and adhering to property maintenance budgets
Benefits of Property Management
Obtaining property management services for the property you own comes with many distinct benefits, the primary of which is that you won’t need to perform these day-to-day tasks on your own. Property management companies know how to resolve problems, collect rents, and market properties.
Your Property Will Be Marketed
Property managers are capable of providing extensive marketing for any type of property, which includes taking premium photos, managing open houses, and creating content that can be placed in rental ads. The local knowledge a property manager has allows them to set competitive rental prices that will appeal to potential tenants. By hiring a property management company that has ample marketing experience, your property shouldn’t remain vacant for too long.
Potential Problem Tenants Will Be Screened Out
Property management companies are also able to perform tenant screening, which ensures that any problematic tenants are screened out before they get further in the process. Property managers with experience will know how to identify potential issues even if they need to look through hundreds or thousands of rental applications.
The property manager you hire should be able to differentiate good tenant qualities from bad ones. For instance, one tenant may have a history of taking care of the property they live in and paying rent on time. These individuals would be considered good candidates. On the other hand, a few late payments could be a red flag. Letting property managers handle tenant screening increases the likelihood that you’ll obtain reliable renters.
Property Management Company Responds to All Tenant Concerns
In the event that an appliance malfunctions or part of the roof is torn up after a thunderstorm, property managers will address these problems immediately and are available all throughout the day to deliver the necessary repairs. Property management companies have well established relationships with trusted professional vendors in the area which allows managers to receive the best pricing and high degree of timeliness for all repairs and maintenance calls. Property owners don’t often have the means of driving down to their properties whenever maintenance or repairs are required. Complaints about other tenants will also be managed by the property management company.
The Company Makes Sure Rents are Paid on Time
Property management companies are often required by the property owners to handle every facet of the rent collection process, which involves setting up online payment portals that tenants can have access to and attempting to obtain late payments. Lease policies will be enforced by the property management company you hire.
In the event that a tenant is failing to make their monthly rental payments on time, the property management company can issue eviction notices. Payment collection is a common issue that experienced property management companies understand how to handle. By having a property manager with the experience and technology to take care of these tasks on your behalf, you can relax and benefit from the income that accrues every month.
Tenant Turnover Is Reduced
Reputable property management companies are also capable of keeping their renters happy by providing quick responses to any queries or issues that these individuals have. If ever a problem occurs, property managers will focus on resolving the problem immediately. Satisfied renters are considerably less likely to search for another apartment or home to live in and may be more willing to sign a lease extension even if the rent increases.
Request Our Property Management Services for Your University City Property
Here at Michael Anthony Properties, our full-service property management company specializes in managing single-family homes, apartments, and condominiums. We provide service to all of the University City area. When you request these services, we’ll maintain the value of your property and can customize our services to meet your needs.
Communication with our clients is of the utmost importance in everything we do. You can be confident that we’ll provide your property with the attention it deserves. We can also meet any goals you set in regards to vacancies or income. Give us a call today to get started.