There are many advantages to hiring a professional property manager versus managing on your own, and today we’re highlighting a few of those.
The primary reason you want to hire a property manager is experience. A good property manager has seen most scenarios and knows how to handle a situation when it comes up. A private owner has to cover all new ground, and you will have to catch up and learn really quickly. Property managers know the business and their knowledge is based upon Arizona law. Issues are handled quickly and efficiently.
Property managers have all the required forms. There are thousands of forms involved in property management, including notices, inspections and financial inspections and reports as well as 1099s. Property managers have access to these and use them on a consistent basis.
A property manager will do a much better job at screening tenants than an individual landlord. They can access excellent services with all the background resources necessary. Property managers know the fair housing laws and landlord tenant laws. Your manager will protect you by not violating any problematic and detailed laws. They can also tell when a tenant is not a good risk.
When you work with a property manager, you’ll get access to a good pool of vendors that are either in house or private market vendors. Your manager will get you the best deal and the highest quality of service. They are flexible, and will be willing to use an owner’s private vendors or use a home warranty company as well.
With a property manager, you’ll get a really good written lease agreement specific to your property and your tenant. They know what to put in the lease to make it binding and advantageous to you.
Time is a valuable thing and a property manager can save you time and aggravation. Why spend your time searching for a law or listening to tenant issues? A property manager will handle things efficiently and accurately. No one likes to be woken in the middle of the night for a maintenance or management emergency.
Smart investors know that a property manager costs an owner nothing. The time and value they provide in handling these things is invaluable. Our expertise saves you money and it’s always favorable to hire a professional rather than handling everything yourself.
Use a property manager who has been in business for a while. Real estate agents believe they can do property management, but don’t have the experience or the hours of work. So make sure you find a manager who is an expert in the field.
If you have any questions, please contact us at Paramount Property Management & Realty, and we’d be happy to tell you about our services and knowledge.