As a rental property owner not everything will be easy. Sometimes things don’t go according to plan, especially if you don’t have experience on your side. This can lead to major headaches that can cost you lots of time and money. Property management firms can lend you their experience and expertise to avoid major problems. Here are five ways they can help:
Removing Bad Tenants
If you are new to the rental property game you may not have a refined process for screening tenants. There are ways that you can remove tenants if need be, but it can be a hassle. An experienced property management firm has seen thousands of applications and knows how to quickly find the facts. They are pros at screening tenants and finding ones who will pay on time, rent longer, care for your property and cause minimal problems.
Costly & Time Consuming Legal Battles
Property management firms are well-prepared to anticipate any legal needs for their clients. They will be up to date on landlord-tenant law and will ensure that you are not at risk for legal action from your tenants.
When choosing your property management firm be sure to go with one that handles most maintenance of the property. This will save you a huge headache and a lot of time. Not to mention, having prepared maintenance staff ready to meet the needs of your tenants in a timely and efficient manner will make for happier tenants who stay longer. Property management firms also will either have their own maintenance staff or they will have already done the homework to make sure they have quality contractors ready to go.
Financial Records & Tax Confusion
A good property management firm will keep detailed and organized financial records to make things easier for you come tax time. The firm will have experience in how best to maintain these records and know what information will help you to do your taxes in the most efficient, beneficial way possible, without stress or confusion.
It is so much easier to get your property seen by the kind of tenant you want if you are listed with a well-known property management firm. Interested tenants in the area will often be familiar with the names of these firms because of their widespread properties, management and marketing. By working with a property management firm with a user-friendly website and impressive marketing, you will have a much easier time filling your rental properties with high-quality tenants.
At Woody Creek, we want to make things as easy as possible for you as an owner. We will use our expert experience and knowledge to help you make the best decisions for your property investment. It is our goal to make sure you avoid headaches and reach your goals as a property owner. Let us make being a landlord the easiest it can be! Contact us today!