The 5 “P”s you can expect from Property Management

• 1.Protection:

In any Landlord/Tenant situation, there is liability involved. If you’re not careful and well versed in State and Federal Landlord Tenant Law, it’s easy to get yourself in a stick situation. Good Property Management Companies will protect you from these undesirable happenings. They deal with the ins and outs of this legislation on a daily basis, so you can be sure you’re always following the letter.

• 2.Punctuality:

Repair needs come up whenever you own a home. Being a landlord is no different. Certain things are required to be fixed within short time periods, like heating and cooling, flooding, etc. Midnight emergency calls are a common occurrence. Property Managers have 24/7 maintenance lines, and vendors on standby to address these issues as quickly as possible, and within the designated time periods for emergencies.

• 3.Peace of mind:

Real Estate is a large investment, and for most, a part of their retirement plan. You’ll want to make sure your property/properties, are being well maintained. Property Management companies do this in 2 ways. First, by screening tenant applications. Making sure you have reliable, responsible tenants is paramount. And second, by constantly checking on the property. Good managers are out in the field driving by their properties often to make sure everything looks in good condition. You’ll rest assured your investments are in good hands.

• 4.Profit:

Every investor’s goal is to make money. Although Property Management is an expense, vacancy will be one ten times greater. The right company will market your property effectively, and get them rented in a timely fashion. If you find a company with simple, straightforward fees, and lots of experience, they’ll end up saving you money on vacancy periods, repairs, marketing and screening costs, etc.

• 5.Passive income:

Passive income is the accumulation of wealth with little to no effort put forth. Isn’t that the American dream? Stop working and still make money? Sounds good to me. Let your Property Manager do the work for you and sit back and watch your portfolio grow!