Owning a rental property and functioning as the landlord comes with a lot of responsibility. You will need to handle marketing, maintenance, lease signing, and tenant relations. While you may be comfortable with taking on most of these responsibilities, you may feel that your lack of extensive knowledge and expertise is reducing your ability to maximize profits with the rental.
Although you could continue to learn from their efforts, you should consider hiring a property management company that will help you reduce vacancy times in several ways.
When a tenant moves out of the rental, you will need to inspect everything thoroughly. If you handle this task on your own, it may take you a while to diagnose problems. When you find out that you need to invest in replacement parts, you may not always know where to look. Taking a long time to get the necessary parts extends the length of time until you can market the rental.
A property management company is nice to have on board because they can perform a quick and thorough assessment and they may already have common replacement parts ready to use. By minimizing the time that it takes to prepare the rental, you will reduce vacancy times.
Along with making sure that everything is working in the rental, you want it to look spotless for marketing and when new tenants move in. This is when you can rely on a property manager having a reliable method such as working with the same cleaners that meet specific requests.
Property managers will also know the best time to get house cleaning to avoid a situation in which additional cleaning is needed. For instance, needing a last-minute repair in the home could lead to a room or two getting dirty again, which would require a second house cleaning.
While you can acquire a lot of knowledge about rental marketing by looking at rental listings, you may not have a grasp of the most effective methods for renting a home quickly. This is one of the most important responsibilities of a property manager, so they should use proven methods and, in some cases, automated systems that allow them to put up detailed listings quickly.
When you combine all these services that you get from hiring a property manager, you should see a noticeable difference in vacancy times when a professional starts managing your rental. Contact a company, like EMS Realty, for more help.