This can be one of the first questions a buyer asks after purchasing an investment property. Whether that owner is purchasing a large commercial property with several tenants, or has acquired multiple residential rental properties, the answer can usually be boiled down to the following: how involved do you, as the landlord, want to be in the day-to-day operations?
A few of the benefits a property management and maintenance company offers are as follows:
- Capacity and experience to more efficiently and effectively collect rent and enforce the terms of a lease;
- Perform preventative maintenance to the property that can prolong your investment’s lifespan;
- Thoroughly and uniformly screen prospective tenants to avoid problems and litigation; and
- More actively market your properties to minimize vacancy.
Finally, active property management not only lessens the landlord’s workload but can also decrease tenant turnover with increased responsiveness to tenant complaints.