Why should I hire a property manager?
Are you an owner of a rental property but you are unable to properly manage it due to limited time? Or have you lately inherited an income property but it’s located miles away from you?
Are you thinking of buying another home as a reserve to generate extra income when you retire or for your family after your demise?
If your answer to any of the questions above is yes, then you would greatly benefit from the services provided by a property management company. They have a team of experts that can effectively manage your property on your behalf. These services will make your life easier.
Read on to find out the roles, responsibilities, and duties of a property manager that can help you in making a confident decision.
Why you should Hire a Property Manager
There is a big chance that you are looking to make the most from your investments and equally preserve and increase the worth of your properties. Here are top reasons why you should consider hiring a property manager:
Property Managers will Fetch you more Money
A lot of times, numerous property owners don’t want to hire a property manager due to the cost involved. What they fail to realize is that hiring a property manager will actually earn them more money in the long run due to better care for the property. Your property will stay in a good shape always. This means you will have fewer repairs to make and you will have better tenants that would stay longer.
Proper Screening of Potential Tenants
Experienced property managers know how to identify and select good tenants and exclude tenants with a bad history. Owing to their advertising programs and widespread marketing, property managers have a large pool of potential tenants to choose from. They usually have many potential tenants on their waiting lists. This means having tenants with good traits in your property quickly.
Time-Saving and Stress-free
Could the time spent being your own landlord be used better? It could be stressful and time-consuming to deal with repairs, collect late fees, find vendors, track rent payments, and prepare the property for incoming tenants. Having a good property manager in charge of these responsibilities will allow you to enjoy the returns of your investment without sacrificing your health and time.
Property Managers are Conversant with the Law
As a landlord, how conversant are you with the laws that apply to you? One huge benefit of hiring a property manager is being able to avoid some legal tussles. Professional property managers have a complete understanding of all federal and state laws when it comes to screening and selecting tenants. This helps them avoid breaking discrimination laws. In the case of an eviction, a property manager would know how to stay within the law boundaries while saving money and time.
Local Market Know-how
Apart from doing the basic things for you, professional property managers are familiar with the local market. They are conversant with the market forces at work such as zoning changes, regulatory or legal changes, new real estate developments, transportation issues, and anything that could affect local pricing.
A decent property manager knows when and how to reduce vacancy rates and quickly fill vacant units with good tenants. They ensure that they increase cash flow by demanding the highest possible rent without adding to the vacancy rates.
Property Managers Act as Intermediaries between Tenants and Owners
Hiring a property manager means an owner gets to keep a professional distance between them and their tenants. When an owner is too personally involved, it can lead to excessive leniency on some issues or being overly defensive when certain complaints are raised. A property manager finds it easy to maintain a relationship with the tenants on a strictly professional level. After all, property rental is a business. When there are issues, a property manager is better equipped to handle the problem efficiently.
Delegate Work
Property managers basically handle most of the day-to-day worries associated with managing and owning rental properties. They take charge of every issue related to the property. Such issues could include handling background checks, property inspections, move-in checklists, and hunting down defaulting tenants for payments of rent. With a property manager in charge, your rental properties could be a form of passive investment. You are unburdened with the task of overseeing maintenance issues, screening tenants, or fielding phone calls. You only have to sit back, relax and enjoy the rental income.
Professional property managers also take care of your bookkeeping. They provide regular financial and accounting reports that keep owners fully informed of their investments. This liberates the owners from the responsibility and tediousness associated with the administrative aspect.
Network of Support Vendors Workers and Contractors
Property managers have good working relationships with different categories of tested, reliable vendors, workers, and contractors. They range from cheap handymen to specialists such as plumbers, roofers, HVAC servicers, electricians, and so on. In some cases, they negotiate for service preferences or discounts with their contractors.
Why Hire Hamptons Property Managment?
At Hamptons property management, we always strive to go above and beyond to treat your home like it’s our home. Hampton’s property management provides a variety of services, relating, but not limited to:
House Watching
Hamptons House Watching (HHW) is always active and available to help our clients. When we visit your home, we conduct a thorough inspection to ensure that your property is not at risk of any future problems. Any issue discovered is immediately handled and the owner is informed instantly. A major advantage of having a house watcher is to easily resolve situations in the home. Fixing problems early on will save you the stress of handling costly repairs later.
Property Management
Having a house in the Hamptons does not imply that you have to reside there. It can be a good investment, while you work elsewhere. We are here to ensure that your property is well catered for when you are away.
As a client, you will profit from our Opening and Closing Services. Such services include turning on and off the water heaters, plugging and unplugging electronics and appliances, resetting the air conditioner to a regular setting, cleaning fabrics and carpets, flushing toilets, running the dishwasher on a short cycle, putting on the outdoor light before your arrival, ensuring that windows and doors are secure once you leave, and so on.
Vendor Management
We work in collaboration with your existing vendors (pool service, HVAC company, pest control, landscaper, etc.), by informing them that Hamptons House Watching Inc. will be their primary contact. We assess the work done by the vendors on each visit, ensuring quality control, and addressing issues that arise as regards the service provided by vendors. HHW will hold the service providers to the highest standard as if you were present.
Other services include seasonal maintenance (pre-summer and pre-winter), and handyman services.
At Hamptons property management, we strongly believe in the One-stop-Solution! You have already worked so hard to earn that home in the Hamptons, you do not have to work too hard to own it.
Nobody likes to spend their valuable free time on the phone trying to get estimates from different vendors, waiting never-ending hours for deliveries, or only just realizing that something is broken after you get to the house for that deserved break.
That is why you hire us!