What can a Property Manager Do For YOU?
Hire a Good Property Manager and Make More Money!
We see some owners initially very hesitant to work with a property manager because they feel it will cost too much. In reality, a property manager will often make up for their fees simply by correctly pricing the home from the very start. If a “Craigs List” owner is thinking they could get $1,000 per month – but actual market value is $1,100 – the Property Manager just made them $1,200 a year simply by pricing it correctly. Plus, less vacancy means more rental income.
Property Managers Will Do the Work For You
Saving you Time and Money! How much is your time worth? Doing all the things that a Property Manager does takes a lot of time, expertise, and built up systems. Tracking rent payments, dealing with complaints, handling repairs, marketing, and dealing with a not so good tenant is handled everyday by a Property Manager. It only makes sense to let someone who is an expert in their field do what they do as a service designed to save you time and money.
Property Managers Know the Laws for Renting Homes!
There are very specific laws set in place to govern a rental home, specifically the Texas Property Code, Fair Housing Laws, and the best practice of using a lease agreement. In addition, Property Managers know how to enforce the law in the most practical method possible. If an owner thinks they know what they are doing and make a mistake, it could cost them thousands!
Finding the Best Tenants!
Good tenants seek out well established Property Management companies in Texas to rent from because they want reliable service when they need it. Tenants do not want to experience a maintenance issue to have to call an owner who’s on vacation with a voicemail box that is full. Tenants also do not want to deal with an unrealistic owner on a security deposit concern. We find that quality tenants want to rent from owners that work with a company that will be there when they need them.
Property Managers Know How to Market Homes!
In Texas, a Property Manager has to be a licensed real estate broker. Marketing is a giant part of what they are taught. Having the ability to reach so many potential renters with the numerous advertising sources they use is invaluable. Owners are limited to what options they have, limiting their exposure to the market place… ultimately costing them more time and money in vacancies.
Property Managers are Experts in Rent Collection!
A good Property Manager will have a regimented rent collection process in place for all their tenants allowing them several methods of payment. This gives the owner piece of mind knowing that the rent is being closely watched.
Property Managers Provide Excellent Accounting!
When using a good Property Manager, all the funds coming in for that home, and going out on behalf of that home are well documented. At the end of the year, the owner would receive the IRS Required 1099, and typically a year end statement. This makes tax preparation very easy for the owner!
Property Managers act as the Buffer between a Tenant and an Owner!
When using a Property Manager, this allows a professional relationship to be established between the tenant and the property manager – not a lenient friendship between an Owner and a Tenant. When issues come up with rent collection or repairs, having the go between keep everything working smoothly. Most owner have a heart, and there are tenants who will work to manipulate good human nature. By using a Property Manager, the professional standards are set in writing with the tenant allowing the owner to be hands off.