Creating investment properties you are proud of is hard work. You have invested time, money, and soul into your projects. The time it takes to manage your properties can be overwhelming.
Your time and resources are valuable. You can save time and money when you hire a property management company. Keep reading to find out how!
Property management services have grown almost 4% in the last few years. This guide will show you four signs it's time to hire property management for your properties.
1. Maintenance is Draining Your Time
It seems like you are spending every free weekend doing maintenance. You didn't intend to be a part-time plumber and handyperson by investing. Early morning and late-night phone calls are growing tiresome. One of the benefits of property management is they will take care of maintenance issues for you.
In most situations, you will sign an agreement giving permission for repairs up to a certain amount. This agreement gives your property manager authority to schedule maintenance on your behalf. They will contact and organize repairs with a service company.
2. You Spend Too Much Time Chasing Rent
Unfortunately, you will more than likely face a tardy paying renter. Late rental payments are one of the biggest issues property owners face. Investment properties and rentals have immense benefits, but sometimes overwhelming responsibilities.
Repeatedly calling or visiting a tenant to secure payment is a headache. If tenants take advantage of you, it's time to hire a property management service.
Spending your free time chasing rent down from tenants is frustrating and time-consuming. A property manager can help you put into place a strict late-fee policy. They will handle contacting tenants who do not pay on time and execute the policy on your behalf.
3. You Have Vacancies
If you have multiple vacancies or have a high rate of tenant turnover, a property management company can help. The best property management services will help you fill your empty units. Property managers will handle applications, perform background checks, and conduct interviews.
As of 2022, 44 million people rent. A property management company knows what to look for when researching potential tenants. If the tenant is deemed to be a good fit, your property manager will handle the ensuing details.
A knowledgeable property management company will market your property and screen and process tenants. It is an invaluable investment in your business.
4. You Want to Invest More
Hiring a property management service enables you to find your next venture. If your future investments feel out of your reach, it's a sign to hire a property management company. Delegating responsibility to a professional management service gives you the freedom to do what you love.
Best Property Management in South Carolina
We are a team of professionals that will give you flexibility with your schedule and time. Our property management services allow you to focus on your business while garnering a steady income.
The team at Sumter Property Management is ready to assist you with your investment or rental property.
Reach out to our office today to schedule a free rental analysis!
