Having an Experienced Property Manager by Your Side can Save You Time and Money
Now that you have secured your perfect multifamily investment, what’s next? Dealing with the day to day operations of a multifamily property can be very time-consuming, as can the lengthy process of finding, vetting and retaining tenants. Hiring a property manager or property management company is a great way to take the stress out of owning a multifamily property, as well as saving you time and money. Keep reading to learn the advantages of having a professional at your side to help you manage your property.
They Do the Legwork
A good property manager will make sure your rents are paid in a timely manner, as well as handling any repairs promptly. You will save a lot of time by hiring someone to take care of these issues for you, especially if you have a larger property. Keeping on top of problems will also help to keep your tenants happy, making them more likely to renew their lease and continue providing a steady source of income for you in the future.
They Protect Your Assets
Your property manager is invaluable when it comes to taking care of your property. They are highly experienced in showing properties and vetting potential tenants, to ensure that you are attracting only good renters who will pay on time and who will not cause unnecessary problems for you or other residents. A good property manager will also protect your assets by carrying out regular property inspections, to make sure that everything is functioning correctly and that your tenants are properly maintaining their units.
They Can Give Great Advice
Your property manager should be experienced and qualified. Before you hire them, be sure to look into their past and current management portfolio, and check if they have any certifications, for example from the Institute of Real Estate Management (IREM) or the National Association of Rental Property Managers (NARPM). An experienced and qualified property manager will be able to offer you maintenance advice and tips on how you can attract and retain tenants. They may even be able to offer improvement recommendations.
We are on hand to help you find the ideal property manager for your multifamily investment. At 100Units, we believe in setting our clients up for success. To learn more about how we help our investors manage their assets, click here.