Anyone who owns or manages rental properties knows it’s no walk in the park. Having to deal with cranky tenants, broken air conditioners and folks who “forgot” to pay their rent are just some of the burdens of being a landlord. What’s worse, tending to rental properties can easily gobble up an owner’s entire weekend
Owning a rental property is very different from managing one, just as owning a professional NBA team is very different than managing one. That’s why the San Antonio Spurs’ owners hire people like Gregg Popovich—they want a pro who knows how to run things and makes their owners money. The same holds true for landlords.
Many rental property owners have found a way to make life easier by hiring a property management company to take care of those unpleasant and time-consuming tasks. And it doesn’t have to break the bank either. For as little as $75 a month, our San Antonio Luxury Realty property management handles the hassles of managing rental properties and give owner’s back their weekends.
Benefits of Working With a Property Management Company
Besides helping deal with many of the routine tasks of running a rental property, having a property management company can, among other things, help enhance an owner’s bottom line. Here’s how:
Avoid Bad Tenants
Having a bad tenant is every property owner’s nightmare. Bad tenants can cost the owner’s money and drive them crazy. Unfounded complaints, late rental payments and the harassment of other tenants are just a few of the annoyances of having a difficult tenant.
It’s not always easy identifying these bad apples either. Unless you have the time and knowledge to dig, and really dig deep into the backgrounds of possible tenants, bad actors can easily slip through. A top-flight property management company knows how to get past the veneer of a smooth-talking tenant to be. Good property managers are well versed in uncovering the rental histories of people, so you don’t have to.
Shortening Vacancy Times
Like an empty airline seat, a rental unit is a perishable commodity whose value disappears if it goes unused. Quickly finding a rent-paying tenant is critical because an empty unit is a wasted unit. Property management companies know this and are usually quite good in filling empty rental units with good paying renters.
Get The Highest Rent Possible
Rental property owners are known to under charge tenants for the simple reason they do not know what the current market rate is for their rental properties. Market rates change and sometimes fast. Not keeping up with current market rates is leaving money on the table, something no owner wants to do. Companies like San Antonio Luxury Realty keeps its finger on the market and knows exactly what the market will bear.
Maintain The Value of Your Property
A good property management company in San Antonio will keep a close eye on a building’s infrastructure, making sure routine property maintenance occurs so little problems don’t turn into big, expensive ones. This assures that your capital investment maintains its value and does not depreciate and become run down before its time.
Collect Rent On Time
One of the worse jobs around is chasing down tenants who are late with their rental payments. Unanswered phone calls and unanswered doors are unfortunately quite common. You know the drill; you knock on a tenant’s door, hearing a TV on in the background and you see an eyeball in the door’s peephole – yet nobody answers. The beauty of having a property manager around is that they can be the bill collector.
Avoid Costly Legal Problems
A single lawsuit can easily wipe out a property owner’s yearly rental income even if the case is thrown out. Lawyers aren’t cheap and many people filing frivolous lawsuits bank on that, knowing many landlords would rather cut a deal and avoid a costly trial. Professional property managers know how to avoid and handle costly legal problems as part of their job.
It’s a wise move to hire a professional property management company if you are a rental property owner in San Antonio, so visit our San Antonio Luxury Realty website if you’re ready to get started today.