Working with a professional
Weston property management company makes sense for a lot of reasons, but it’s especially vital when you’re a new landlord or renting out a property for the first time. The rental market continues to become more challenging, especially with the recent pandemic changing the way tenants are evicted and rent is collected.
If you’re managing your own Weston rental property, you might be making things more difficult for yourself than they need to be. We’re sharing 5 good reasons to hire a
professional Weston property management company.
1. Establishing Reliable Weston Rental Values
One of the first things you’ll do when you list your rental property is establish a rental value. Everyone wants to earn as much as possible in rent. But, it can be complicated. A
professional property manager
understands the local market and the requirements of well-qualified tenants. You need competitive rents that will attract good tenants and avoid long vacancies. Pricing a home too high can be just as damaging to your ROI as pricing a home too low. Your property manager will understand how to maximize what you earn in rent every month. You’ll get your property rented quickly to good tenants.
2. Standard and Consistent Rent Collection
Late and missing rental payments worry new and experienced landlords. It’s terrible to imagine your tenant won’t pay rent. Property managers will have stricter screening tools, reducing the risk that you’ll have a
tenant who doesn’t pay on time. Your property manager will also have a consistent and well-documented rent collection process, which includes late fees and other consequences. Property management companies typically provide online tenant portals that allow residents to pay rent electronically.
3. Managing a More Efficient Leasing Process
Professional Weston property managers have access to better marketing channels and leasing resources. You won’t have to rely on Craigslist or yard signs to rent your property. A strategic and professional marketing plan will provide a lot of exposure for your property. You’ll find the best and most qualified tenants when your home is professionally leased.
4. Fair Housing Mistakes are Easy to Make
There’s also the matter of
rental laws. Tenants have a lot of rights, and it’s easy to make a mistake with fair housing, especially if you don’t know the laws. Even the way you advertise your property can have consequences if you’re using the wrong terminology. You’ll need to know the difference between a pet and a service animal. There are other legal tightropes to walk to, especially pertaining to the security deposit and how to move forward with eviction if that becomes necessary.
Property managers understand the laws and we work hard to stay up to date with all the changes.
5. Cost-Effective Rental Property Repairs
A professional property manager will conduct
regular inspections, typically when a tenant moves in, throughout the lease, and when the tenant leaves. Through regular inspections, a property manager will be able to recognize problems before they become too expensive. You’ll have someone checking for deferred or unreported maintenance, and you’ll be sure your tenant is following the terms of your lease agreement.
