There’s no denying that self-managing your York rental property can be challenging.
And, while there are definitely benefits to running a rental property business, it can be time-consuming and very demanding.
Luckily, that’s where enlisting the help of a reliable and high quality property management company comes in handy.
Taking over many of the responsibilities that you find yourself dealing with daily, such as tenant screening, rent collection, and maintenance requests, a trusted property manager cannot only make your life much easier, but also help you become more successful than ever.
Are you wondering whether you are in need of a York property manager?
Check out our telltale signs and see for yourself.
Surefire Signs You Need a Professional Property Manager in York
1. The Stress is Getting to You
Being a property owner is much like riding a roller coaster, there are many ups and downs and you must be ready for anything, at any time.
For example, rental property emergencies, tenant complaints, property upgrades, tenant showings, and more will all fall into your lap as the owner of a rental property.
And truthfully, this is enough to stress out even the strongest of people over time. Especially if you work another job, want to spend time with family and friends, or simply want to have a full night’s rest without worrying about after hour calls.
If you find yourself stressing out because the duties of self-managing your rental property are becoming too much, it’s time you start looking into hiring a property manager to handle the daily operations.
2. You Own Multiple Properties
There comes a point when managing multiple rental properties exceeds a full time job.
From advertising to tenant screening, rent collection to routine inspections, there is a lot to handle for each property and your tenants don’t want to wait in line for their turn.
If you choose to hire a York property management company to take this load off your shoulders, not only will you have plenty of free time to attend to other things, you’ll always know your tenants are one hundred percent satisfied with living in your rental.
3. Financially It Makes Sense
It may seem counterintuitive to hire a property manager, and pay additional monthly fees to have your rental property cared for, but in business, sometimes you have to pay a little to gain a lot.
It can be tough to collect rent payments from your tenants every month. Even with solid tenant screening in place, and the assumption that only high quality tenants are being placed in your property, the truth is, tenants have a whole host of reasons for not paying on time.
With a knowledgeable property manager in place who can help draft an airtight lease agreement that outlines exactly what will happen in the case of late or non-payment of rent, you are already a step ahead when it comes to getting your money on time.
Not to mention, an experienced property management company will know which notices need to go out in the case of non-payment, will understand the eviction process, and may even back you in court should a dispute get that far.
The monthly management fees of a good property manager pale in comparison to what you have to lose when it comes to non-payment of rent.
And we haven’t even discussed how long-term vacancies, poor advertising, and the failure to collect proper security deposits can negatively affect the financial success of your rental property business, all of which a good property manager can help with as well.
4. You’re Not a Marketer
You may not realize it at first, but a huge part of being a successful property owner is being a good marketer.
Unfortunately, this is a skill that must be developed over time, and you may not have the time or energy to do this.
With a top notch York property manager by your side, who doubles as your personal marketer, you’ll be able to accomplish many things:
- Advertisement of your property across multiple channels including online ads, MLS listings, and even your property management company’s website
- Exceptional property showings that boast the right curb appeal to attract tenants and high rent rates
- High quality tenant placement with tenants that are likely to pay on time and renew their leases consistently
And lastly, with the help of a property manager handling all of your property’s marketing needs, you’ll generate a steady stream of income that you can come to rely on.
5. You Don’t Live Nearby Your Rentals
It is not unusual to own rental properties in neighboring cities. It is unusual, or at least highly unlikely, that you’ll want to manage those rentals from afar on your own.
Late rent payments, emergency maintenance situations, or just routine inspections of your property to make sure it is being well cared for by your tenants become a hassle when you live miles away from your rental property.
However, if you work with a property management company that is in same area as your rental property, you’ll always know everything is being handled right away, the right way.
With a good York property manager, you will still play an active role in the decisions regarding your rental property. This includes having a say in who leases from you, and always knowing the condition of your property, the satisfaction levels of your tenants, and what steps are being taken to ensure your tenants want to stay another lease term.
6. You Need Help with Maintenance
Sometimes, the only thing you find yourself struggling with when it comes to self-managing your rental property is the issue of maintenance and repairs.
After all, not everyone that owns investment properties is handy enough to handle broken garbage disposals, paint jobs, and landscaping needs.
By employing a property manager to help you, you will also have access to their Rolodex of trusted, reliable, and cost effective contractors that can help you with all of your maintenance and repair needs.
That’s because over time, a good property management company builds strong and consistent relationships with general contractors and other vendors that can help with all matters related to your rental property.
Even better, some property management companies have their own onsite maintenance crew to help your tenants with maintenance and repair requests, no matter how major or minor. This is not only easier on you; it makes your tenants feel like you really care about their needs.
An onsite maintenance crew is typically available 24/7 for all maintenance and repair needs. This takes the burden off you and places it on those who have promised to care for your investment property and your tenants.
7. You Don’t Know the Laws
When it comes to being a rental property owner, there are several federal, state, and local laws you must follow in order to avoid serious legal trouble.
However, the average person has no idea what these rules and regulations are, where to find them, or even how to apply them properly.
That’s where your property manager can help. They know all the rules as they apply to rental properties and can make sure your lease agreements are legally compliant, that tenants follow the rules, and that, should any landlord-tenant disputes arise, you have the upper hand because you will have followed all the laws to a T.
8. You Want a Hands-off Approach
There’s nothing wrong with owning a rental property and wanting nothing to do with the management of that property.
You put up the money to purchase your investment property, and that’s why there are property management companies to help you out.
Maybe managing your property is annoying. Maybe it’s too time consuming. Maybe you prefer to have the people that make a living off managing rental properties care for yours so you know it’s always being done the right way.
Whatever the case may be, more often than not, hiring a property manager is the best decision.
If you own rental property in York, and are thinking about taking on the help of a reliable property manager, contact York H-G Properties today.
You’ll quickly see that our number one priority is remaining dedicated to managing your rental property, as well as ensuring that your tenants remain happy. Let the experts handle the day-to-day tasks related to owning rental property while you sit back and enjoy the income your investment property is generating.