Professional property management is always worth the money. It seems easy enough to manage your own property and avoid the property management fee that you would pay a professional, but it’s not as simple as it seems. And, you can actually end up spending more than you realize when you’re not working with experts.
Whether you’re renting out a single home or an entire portfolio of rental homes, you need to know when it’s time to hire a professional team. There are a number of advantages to professional management, and there are often specific moments in every landlord’s investment journey when it clearly seems worth the management fee.
Don’t wait until you’re dealing with an eviction or a long vacancy or a tenant who is disputing a security deposit. Have your Noblesville property management experts in place early.
Long Vacancies and Problem Tenants Require Professional Management
Maybe you’re losing money on longer vacancy periods or bad tenants. Professional property managers understand the Noblesville rental market, and that helps owners when it comes to pricing, marketing, screening, and the entire leasing process. We find good tenants quickly, reducing your vacancy costs.
We know what competing properties are renting for, and we understand the trends and the tenants in the rental market. With the right rental value, your property will rent faster and to better tenants. Strategic marketing with professional management means well-qualified tenants will see your listing and get in touch.
Professional tenant turnovers and fast preparation of your rental property means it will not remain unoccupied and unrented. Even one week of vacancy costs you money, and if you’re managing on your own, you could face months of vacancy and turnover costs.
You’ll find that property management is well worth the money when you’re trying to lease your home and you can’t seem to find good tenants who are interested in renting it.
Cost Effective Rental Property Maintenance
If your maintenance costs are high or the condition of your home is deteriorating quickly because of deferred or unreported repairs, you will definitely want some professional help.
Routine maintenance is an expected cost of owning rental property. But, it’s never fun to pay large invoices to plumbers, HVAC technicians, and roofers. Emergency maintenance is especially expensive, and usually requires you to be available to your tenants around the clock.
With professional management, you can keep maintenance costs to a minimum. Most property management companies work with preferred local vendors and contractors who are licensed, insured, and reliable. The relationships we have in place with vendors provide us with discounted pricing, keeping your repair work cost-effective.
Preventative maintenance can save you money. It protects the condition of your property and keeps your emergency repair needs to a minimum. With great vendor contacts and attentive maintenance responses, the cost of keeping your home safe, habitable, and well-maintained will be lower with professional managers.
Legal Mistakes are Easy to Make
If you’ve ever had a dispute with a tenant and found yourself in court, you know that professional property management is worth the money. Protecting your property is the main job of any good property manager. We will also protect you from liability and risk.
Laws and regulations are changing all the time, and it’s hard to keep up. For example, the eviction moratorium that’s currently in place means you cannot evict a tenant who can prove he or she has been financially impacted by the COVID pandemic and therefore cannot pay rent. There are laws pertaining to emotional support animals, security deposits, and fair housing.
Professional Noblesville property management gives you back your time and protects you from the growing headaches and hassles that come with real estate investing. More importantly, it allows you to spend less and earn more on your investment.
Don’t forget - the property management fees you pay are tax deductible.
Contact us at Red Door Property Management when you’re ready to work with professionals.
