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One thing that a lot of new property investors overlook is the benefits that using a property management company offer them. Maintaining a rental property can be quite tedious, and as a new owner, you don’t want to be responsible for all the issues that could be present in the house or angry tenants who may refuse to pay rent.
Some people think hiring property management is a waste of money, but the benefits far outweigh the expenses. Here are some reasons why it is worth leaving your rental property to a property manager to handle: 1. More free time Hiring a property management company ensures that you get your time back from keeping an eye on your rentals. Property managers do all the heavy lifting so that you can get more time to enjoy the returns of your investment. 2. Marketing and advertising Property managers will help you advertise and market your rental to prospective renters at competitive and profitable rates. Instead of spending your time posting classified ads online and in papers, a property management company does all this for you as part of their services. 3. Tenant maintenance Your property manager helps you to handle tenants they do not want to pay rent, are difficult to other tenants and generally constituting a nuisance. Let your property manager handle all the crazy parties and disturbance calls for you, leaving you to face more important things in your life that require your attention. 4. Collecting rent Property managers usually have a foolproof system of ensuring that rent is paid monthly. They also have the responsibility of chasing up with late payments and non-payments. In the event there is a rent increase, they also help work with tenants to explain the rationale and ensure that payment options like direct debits are updated. Lokahi Properties in Kona offers free online rent payment options for tenants. 5. Market appraisal One important benefit of using a property manager is that you will not lose money by underestimating the amount of rent to charge weekly. A property manager helps to keep an eye on the market and keep your property rent competitive so that you can always maintain occupancy. 6. Tenant contracts and legal agreements It is important to protect yourself from liability by having tenants complete their lease contracts correctly. A clear contract indicates all the responsibilities of the tenant and the property owner. New property owners sometimes overlook this part which could lead to issues in the future. A property manager helps to ensure that everything relating to agreements are completed and filed in case it is ever needed. Getting the best out of your property will require spending time working on it, time that you could be spending with your family. Lokahi Properties property management in Kona is the recommended way to go as it allows professionals to handle all things related to your rental property, leaving you to enjoy the benefits. At Lokahi Properties, we give personalized service and treat your home like our own home.
17 Comments
I am a busy person, and if ever that I get to own a rental property then it's best for me to hire someone to manage it. As you've said hiring a property manager saves you a lot of time from managing and monitoring your rental property's daily operation and maintenance. And it's also betting t hire those who are expert in doing the job especially in collecting payments to ensure that you get the rental payments on time. 5/22/2019 03:00:15 am
Thanks for sharing the benefits of property manager for the property. I was planning to hire the property manager for my vacation home and after reading the blog I am more convinced to do it. Hire the experienced property manager to avail the property management service to avoid the headaches regarding the property management. 7/24/2019 08:12:42 am
I like how you said that a property manager has a foolproof system for getting the rent paid on time. My husband and I are looking at getting some rental properties. We will have to look at getting a company to manage them so rent collection will be timely. 7/26/2019 11:28:57 pm
This post is very nice. I am looking for this kind or article. Thanks for writing this article. This is very useful for us. 7/29/2019 10:43:19 am
I like how you included that hiring a property manager will ensure that you get your time back. My husband and I have been thinking about renting our home and we really have no idea how to do it by ourselves. I'll make sure to keep this in mind if we ever decide to hire a property manager. 7/29/2019 02:09:21 pm
I never took into account that there are benefits to reap if I hire a realty rental property management service. If I were to choose, I think I'll hire one since I want more free time for my kids. This way, the tenants will be happy with the service that they'll get as well. 7/30/2019 06:21:27 am
It was great that you mentioned that property management services can help you handle tenants that don't pay rent. It's always been a worry for me to rent out a property and have to deal with someone who wouldn't want to pay rent. Maybe I should see if a property management service can help me earn a little extra side income. 7/30/2019 08:16:22 am
Thank you for explaining that a property manager will handle the contracts and legal agreements. We are needing help handling the contracts. We will look into hiring a property manager. 8/23/2019 03:39:51 pm
I'm having a hard time collecting rent from my rental tenants because of my hectic schedule. Thanks for saying that a property management service will help me create a foolproof system so that they won't skip on paying rent anymore. This way, I can finally keep the tenants who are willing to do business with me and filter out the bad ones. I liked that you said that one reason to consider hiring a property manager is to make sure that they collect the rent and you won't have to worry about chasing people down for the rent money. I have been thinking about buying a rental property but I have been worried that people wouldn't end up paying their rent on time and I wouldn't get my money. I would be sure to consider hiring a property manager so that I would have someone take care of this responsibility for me to ensure that I would get paid. A friend suggested hiring a property manager when I told him that I'm thinking about subleasing my condo. I wasn't sure what they did exactly until I read this article. I'm glad to read that one of their responsibilities is marketing our rental to potential customers because I don't really have the time for it. Thank you for listing these benefits. 10/2/2019 06:02:41 pm
My cousin is thinking about buying and then renting some properties. He is thinking about getting a property manager to help him manage all of them so that he can relax. It was interesting to learn about how he will be able to get his time back and let his property manager handle the bulk of the problems, and they will help advertise the rental. 10/6/2019 09:16:43 am
If I had some rentals, I would probably need someone to help me manage them. As you said, it would give me more free time to do pretty much anything else. Depending on how many units I'd have, I would either be busy or very busy all of the time. I'd just be sure that they are a professional and have the proper experience with it. 10/8/2019 09:55:23 am
I loved how you mentioned that they can help with collecting rent. My husband and I are wanting to start renting houses. We'll have to look into hiring a property management company. 10/25/2019 02:44:45 pm
It's cool that property managers will help you advertise your rental to prospective renters at competitive and profitable rates. My wife and I recently purchased a home and kept our old home in case we wanted to visit our old community. I think it would be great to hire a property management company so that we can make money off of our home that is otherwise just sitting there! 3/5/2020 09:26:18 pm
Thank you for sharing that a property manager can help us in collecting rent from our tenants and that they usually have a foolproof system to ensure the rent gets paid. My wife and I typically have a packed schedule, so sometimes it is difficult for us to get in touch with our tenant and to follow-up on the rent. After reading your tips on the benefits of hiring a property manager, I will definitely consider hiring a property manager. 3/16/2020 10:31:30 am
It's good that you point out that a property management service can help you with rent collection if you own an apartment complex. I want to buy an apartment complex, so I'm considering hiring a property management service. I'm going to look for a good property management service to hire. Leave a Reply. |
AuthorDana Kern is the Principal Broker at Lokahi Properties Archives
January 2020
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