Advantages Of Using A Property Management Service Vs Managing Your Own Properties

Advantages Of Using A Property Management Service Vs Managing Your Own Properties

by

John Vantine

As a rental property owner, you may be tempted to handle all of the related responsibilities yourself including the collection of rent, finding tenants when you have vacancies, paying utility bills and attending court for tenant dispute cases. However, you should know that there are numerous advantages associated with hiring a property management company to do these things for you.

Location is a factor that must be taken into consideration. If your home is located far from your rental property you would need to possess some very good planning skills and have ample time available at the spur of the moment to travel to the property location if the need arises. Imagine if one of your tenants lost his key. You could easily meet with the tenant to give him a new key if your home was close to the property, but if not, all types of logistical nightmares could arise from this type of situation alone. On the other hand, a property management service would have spare keys and it would be its responsibility to handle this type of crisis.

A good property management service will screen prospective tenants so that you end up with reliable tenants that pay their rent on time, rent for longer periods of time and put less wear and tear on your property. If you were to do the screening yourself, you may be tempted to cut some corners because tenant screening takes time. On the other hand, an experienced property management service has seen scores of applications and knows how to sift through the information to obtain the real facts about the candidates.

If you have a good property management service in your corner you will be shielded from discrimination lawsuits resulting from potentially inconsistent screening practices. It takes experience, dedication and time to weed out bad tenant applicants, making tenant applicant screening the most significant benefit you will reap when you make use of a proficient property management service. Seasoned property owners are very much aware of the fact that it only takes one bad tenant to stir up legal and financial troubles. A reputable property management service is very knowledgeable concerning the current landlord-tenant laws and will make sure that you are not vulnerable to a potential lawsuit. Dodging just one lawsuit can more than pay for the fees a property management service charges.

The collection of rent each month is your only way to maintain a consistent cash flow. The people renting from you must know that you expect them to pay on time and that there is no negotiating the payment of rent. If you have a property management service working for you you will not have to deal with those late night phone calls from tenants wishing to obtain extensions nor will you have to hassle with chasing down non-paying, elusive tenants. Plus, you will not have to evict non-paying tenants as this rather unpleasant task is something your property management company will handle for you.

These are just a few good reasons why you should consider using a property management service. As a rental property owner, there are many tasks that require attention on an on-going basis including property inspections, maintenance and occasional repairs. A property management service is well equipped to tackle any task ranging from replacing keys to evicting bad tenants.

If you need an

atlanta rentals company

, Boundless Management is a great place to start. Take a look for yourself at youratlantarentals.com!

Article Source:

ArticleRich.com