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3 Reasons you Need a Property Manager

Posted by awbinc on 03/27/2015
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3 Reasons you Need a Property Manager by alliancewealthbuilders.com

Property Managers Assist with Maintenance for Long term Cash Flow

Rental property maintenance isn’t something most investors like to focus on, but taking the time to ensure your property is properly maintained will not only guarantee the satisfaction of your renters, it can also save you money in the long run.  Yet, managing your rental property doesn’t have to be a time-consuming annoyance, especially if you have a good property management company.  A reputable property management firm is intimate with each of its properties and can ensure that property maintenance inconveniences don’t become full-blown hassles.  In fact, the key to handling property maintenance is by creating a partnership with your property management company, allowing them to come alongside you to handle those minor disruptions before they become major problems.  This leaves you with peace of mind, knowing property maintenance is handled in an efficient manner.

 


 

They Create Clear Lines of Communication

Communication is vital to providing exceptional rental property maintenance.  A good property management company makes sure there are adequate communication procedures in place between tenants, property managers, and owners.  They will also provide a simple, efficient way for your renters to contact them with any concerns.  Good property managers safeguard against small problems becoming a maintenance crisis by responding to issues in a timely manner.

A reputable rental property management team takes great pride in each of its investment properties and provides its clients with the comfort of knowing that it stands behind its product.  This value should also extend to property maintenance.  Your property management company should notify you as soon as an issue arises, so you can respond efficiently to any requests made to perform repairs to the property.

They Make Sure Preventative Maintenance is Done, Not Damage Control

Property maintenance should be performed from an offensive posture, not a defensive stance.  A respectable property management company should be proactive in providing routine check-ups and basic seasonal maintenance on property.  Be sure your property management team is scheduling yearly and semi-annual maintenance service.  The most effective property management firm will also remind tenants to perform any basic upkeep, such as cleaning outside air condensers and changing air filters indoors.

Be sure to approve maintenance when it is requested.  Your property management team knows that staying on top of basic repairs prevents costly, major repairs later on, which means a good team won’t just look for quick fixes that cut corners but save a few dollars because they know this could result in a major, unexpected future financial investment for you.

They will Help you Decide How Much to Set Aside for Maintenance

The best property management team will not be able to do its job well, if the owner isn’t setting aside the capital necessary to cover property maintenance.  Having an amount set aside for critical property emergencies is paramount, but it is also important to make room in the budget for routine maintenance.  Few things are more trying than allowing a problem to go unaddressed because of inadequate funds.  While there are many important aspects of property investment, don’t disregard property maintenance.  It, too, is a vital, yet, sometimes, overlooked, part of successful property investing.  A respectable property manager will help you understand exactly how much you should budget for rental property maintenance.  Your property management team serves as a vital partner in keeping minor problems in check before they become costly major repairs.

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