​5 Benefits of Using a Management Group for Your Rentals

There’s a lot of work involved with owning rental property. From the ongoing maintenance to securing tenants to handling rent payments, being a landlord is a time-consuming endeavor. This is one factor that prevents many people from making the decision to invest in rental property, and it’s a shame because there is actually a very simple solution: using a property management company to handle it all. There are a ton of benefits to working with a management group, but here are 5 of the biggest advantages to handing over the lion’s share of the work:

1. 1. Increased occupancy and better tenants. Property management groups know that without high quality tenants, there may be no property to manage. That’s why they spend plenty of time doing everything it takes to secure good renters. First, they devote entire marketing campaigns to drum up interest in the property. Once people are expressing interest in renting, the management group completes extensive screening of any potential tenants to ensure that your property is occupied with people who have clean rental backgrounds (i.e., on-time payments, not in the habit of destroying property, etc.)
2. 2. Always available for your tenants. With a property management group, your tenants have someone who is on-call for them 24/7. This means there is always someone available to deal with any situation that arises, whether it’s a maintenance issue or lease negotiations. For many investors, this is the best scenario, as a single person can’t be available 100% of the time, but a management group can.
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   3. Repairs and maintenance are taken care of. Regular maintenance and the occasional (hopefully, anyway) repair are just a part of owning any piece of real estate. With an investment property, it’s especially important to stay on top of these as they arise, because ignoring them can drive away tenants and lower the value of the property. With a property management company, repairs and maintenance are handled quickly and efficiently, which is beneficial to both you and your tenants. Plus, most companies have regular contractors they use for repairs, which can result in lower costs that will save you money.
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   4. Decreased tenant turnover. Finding great tenants who want to renew their lease over and over again is any investor’s dream scenario. Property management groups can help make this dream a reality, thanks to their verified screening processes, “always on” availability, and quick responses. This means your unit stays occupied, creating a regular, steady cash flow and bigger profits.

5. More time and less stress for you. All of this put together results in two major benefits to investors: more free time and reduced stress. When a management group is handling the day-to-day business associated with your property, you don’t have to spend precious time giving attention to each and every little detail. With someone else worrying about it, you reduce your stress level and focus on other things - like scouting out that next investment property!