Are you drowning under the pressure of maintenance requests, tenant complaints, and legal issues? Without help, you could struggle to maintain your multiple properties. You may need landlord rescue sooner than expected.
Here are the top signs you need to hire a property management company right away. With professional services, you can set your investments up for success. Discover how the best property managers can help today!
You Have Multiple Properties
You could stretch yourself thin if you're managing multiple properties alone. Individual property investors own nearly 14.3 million rental properties in the US. However, many property owners are outsourcing to property management companies.
If you're managing multiple properties alone, you'll need to remain available 24/7. Delays could lead to frustrated tenants. Without help, you'll have to juggle multiple tasks alone daily, including:
- Coordinating maintenance requests
- Marketing
- Screening applicants
- Assessing late fees
- Accounting and reporting
- Property inspections
- Collecting rent
- Addressing complaints
If you don't have enough hours in the day to handle these tasks, hire a property management company. They can manage your various properties with efficiency.
Delayed Property Maintenance
A little wear and tear is normal over time. However, a shabby property could cost you future tenants. Routine property maintenance can help you maintain your beautiful investment property.
If you don't complete maintenance requests in a timely manner, tenants could get frustrated. They may decide to withhold rent or pay for repairs themselves and deduct it from next month's rent.
As a landlord, it's your responsibility to meet basic safety, health, and structural standards. If the property isn't in good repair, tenants can take legal action. They may decide to sue you or move out without notice.
Your property management company can coordinate maintenance requests on your behalf. They'll gather competitive bids to ensure you receive professional services at the best prices.
Your tenants will appreciate that you care about their living experience. They could be more inclined to renew their lease. You can increase your occupancy and retention rates to save time and money.
Bad Tenants
Bad tenants may refuse to pay on time, damage your property, or upset neighbors. Hire a property management company before selecting renters. Their tenant screening services can help you avoid unreliable individuals.
The tenant screening process includes background checks, criminal records, credit reports, and employment verification. You can choose renters you can trust with your investment property.
You Lack Experience
If you're new to managing properties, you could make a costly mistake. For example, perhaps you're not following local laws and procedures. You could get hit with a fine.
Perhaps you lack an automated process for rent collection, leading to late rent payments. Your property manager can use state-of-the-art software to streamline lease management. Their professional services can help you remain compliant and avoid mistakes.
Request Landlord Rescue in San Diego
Managing multiple properties can become stressful and time-consuming. You don't need to do it all alone. Hire a property management company before you need landlord rescue services.
The best property managers can help your investments thrive. PMI San Diego has nearly 20 years of helping landlords like you. Contact us today to schedule your consultation.
