Sunday, July 20, 2014

The Importance of Property Managers

The Importance of Property Managers
Property Managers serve a critical role in maintain your income producing investment.

Whenever you purchase a rental property, there are a lot of different factors that go into determining whether you can properly manage it. This is why lots of people choose to hire property managers, since that eases the burden on you and ensures that your rental property is in the best condition possible.

Pensacola Property Management
Ask any rental expert today and they will tell you that the best way to ensure that the property is in good running condition is by making sure that everything is in working order and by properly managing the tenants.
A property manager has education and experience in managing rental properties, which is one of the major reasons why so many rental property owners choose to hire property managers. In order to have your investment property managed in the right manner, you need to hire the right property manager, preferably someone who you can trust and have good communication with.

To pinpoint the importance of a property manager for rental property owners, here are some of the main things that a property manager can help you with:

·         Screening of tenants

·         Knowledge of the Landlord & Tenant law

·          Home values, local rental market and proper rent pricing

·         Knowledge about Property Maintenance and Repair

·         Solid connections with respected vendors

All the above mentioned incentives that a property manager provides you will not only ease the burden on you, but also ensure that you get the most out of your rental property today and in the future.
The Role of a Property Manager

A property manager is someone who you will have to rely on and trust in order to make things run smoothly. The manager will screen all the tenants who are looking to rent your property, and you should be sure they choose the best possible tenants based on their past rental history and references, credit and criminal background, and current verifiable income sources. 

Screening and finding the best tenants will minimize problems or trouble for you down the line. They may not, however, use subjective criteria such as appearance, nor violate any fair housing laws in choosing your tenants.

They will also be required to know the law regarding tenants and the landlords, so that they can properly handle any imaginable scenario that may occur over the course of time. They will also know the rental value of the homes in the Pensacola area and will therefore be highly beneficial to you when it comes to setting the monthly rent for the investment property.

You want to get the most you can, but you don’t want to price it too high as vacancy costs money.  Trying to get $50 more than market can cost you a lot more than $50 if your property sits vacant while potential renters chose another home. If you live in the Pensacola area and want a free fair market evaluation of rental potential from a home, visit our price evaluator.
AC Systems are one of the most costly in your home!
Your manager will also have knowledge about the maintenance and repairing of the property, which will become a huge advantage for you. Maintaining a rental property is not as easy as it seems and you will be required to make repairs from time to time.

A good property manager is highly efficient and knows all about keeping proper maintenance on the property, and the right times to make repairs to the property to keep it in proper working order and preserve the property value, as well as keep your tenants happy so they will want to stay in the property, which will reduce turnover costs.                                                                                                                                                                                                                                                                                                                                                       When the time comes to remodel your investment property, a property manager may become invaluable, since they tend to have solid connections with reputable vendors in the area. This may end up saving you thousands of dollars. 

Thinking about selling your investment? 

Your property manager is likely a licensed real estate agent that can advise you about recent sales and property values in the area.  They may be able to help you price and sell the home, possibly while your tenant is still in place, as they can coordinate appointments for prospective buyers with your tenants and meet prospective buyers at the property, as well as share the information about the repairs and improvements that have been made.
Pam Brantley, Broker
Realty Masters of Florida is a full service real estate brokerage that manages over 800 properties in the Pensacola area.  We specialize in assisting investors with buying, leasing and renting their investments. Give us a call at 850-473-3983 if you need help with buying, selling or renting a home.

Pam Brantley, Broker/ Owner
Realty Masters of FL~ #1 in Pensacola Rental Homes!
4400 Bayou Blvd. #58B, Pensacola, FL 32503
Call us at (850) 473-3983

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1 comment:

  1. Putting up a property for sale or on lease is a tedious job. Right from registering the property for lease or on sale to marketing it best to the potential customers and tenants, receiving countless calls from the tenants from time to time, taking them on a virtual tour to the property, tedious paper work and leg work, rent collection, monthly accounting, property maintenance, and so on; in the busy life of today, it is impossible to manage all these all by your own. This is where property management comes in to the picture, ensuring you lightening of your burden, not your pocket.


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