3 Benefits Of Hiring A Property Manager
Deciding whether or not to hire a Property Manager can be a tough choice. There are many things to consider when making the decision and choosing the right fit can make or break your investment. First of all, your investment property is worth a lot, so that needs to be taken into consideration. Second, your time is worth a lot so that also needs to be taken into consideration. Below are a few key points that can help you decide:
#1 Peace of Mind
In order to truly make your investment “passive income”, you would need to hire a property manager. There are many hassles and problems when it comes to rental properties, and having to spend your evenings and weekends dealing with pesky maintenance concerns, tenant complaints, floods, and fires is not a fun life. By hiring a property manager, they will remove a lot of the weight on your shoulders. They will handle the day to day management of the property and even handle items after hours. This will allow you to do what you want, when you want. For many investors, this allows them to spend their time on finding new investment opportunities and growing their portfolio, rather than dealing with various tenant-related problems or maintenance issues.
There are many management companies in Utah that are full-service, meaning they handle just about everything when it comes to your property’s needs. They handle things like:
- Leasing & Property Marketing
- Resident Screening & Lease Compliance
- Maintenance & Repairs Including After-Hours Emergencies
- Accounting & Reporting
- Property Inspections & Tenant Accountability
By hiring a Property Manager, they can relieve massive amounts of stress and anxiety and save you a ton of time. You can have peace of mind knowing that your investment property is being well taken care of, and that you have a partner that is on-site or local to Utah at all times.
#2 Expertise
Utah Property Managers are experts in their field. Many service hundreds of properties in Utah. This allows them to help you avoid many pitfalls and mistakes that can be very costly to you as a property investor. Additionally, the Real Estate Landlord laws are always changing and being updated. Your property manager can help you navigate those changes and always ensure that you are in compliance
#3 Access to Resources
To truly manage a property in Utah well, plenty of resources are needed. By managing in Utah locally, your property manager will be able to source wholesale pricing on maintenance due to the contractor relationships they have. Additionally, since most property managers have fixed thousands of maintenance issues, they are experts in how to resolve problems effectively, and inexpensively.
Most Utah property managers will utilize cutting edge technology to ensure that tenant payments are collected on-time and that accurate accounting is provided to each owner. Tenants benefit greatly from this technology, as they can use their portal system to submit rent payments easily and electronically, file maintenance requests 24/7 with photos, and access documents as well as purchase renters insurance.
Tenants are often also provided with many tenant-benefits such as credit building, top of the line renters insurance, furnace filter delivery, identity protection insurance, and property purchase assistance, many of which would be difficult to provide as an individual Landlord.
