The Cost of Not Hiring a Property Management Company: Why Professional Property Management is Worth It

If you’re similar to the majority of Saint Charles property owners with one or more single-family rental homes, you do what you can to keep costs down. So, when it comes to paying for professional property management, you may think about whether it’s worth it. Most likely the best approach to answer that question is to take into consideration the cost of not hiring a property management company. For lots of engrossed and busy investment property owners, the cost of hiring a property management company pales in comparison to what you would possibly pay if you didn’t employ one. Let’s look a little closer at why paying for professional Saint Charles property management can save you both time and money!

Time is Money

The first and most obvious reason to hire a property management company is to save you time. If you’re as similar as most people, your time is probably already stretched pretty thin. And it can swiftly become overwhelming if you’re trying to manage your rental properties on top of everything else. The appropriate property management company can overlook and manage all the little details so you can focus on the most important things.

Property Upkeep and Maintenance

Another relevant matter is the cost of property upkeep and maintenance. As you are well aware, there are specific repairs and maintenance tasks that you are legally required to do. On the other hand, properties must be inspected regularly to be sure that tenants are keeping up with their cleaning and maintenance obligations. If you don’t have the time or expertise to do inspections, repairs, and maintenance yourself, you should hire someone who does. But who? Going after genuine and proven service techs for every little thing your property needs takes time – a lot of it! A property management company such as Real Property Management Endeavor can monitor and manage all the principal repairs and maintenance for you, so you don’t have to worry about it anymore.

Tenant Management

Another substantial cost of being a landlord is tenant management. From screening potential tenants and conducting background checks to collecting rent and handling maintenance requests, there’s a lot that goes into being a very good landlord. Great tenant relations can effectively reduce vacancies by keeping tenants dwelling there longer and cutting down lost rental income. It can equally help you save money on repairs if you motivate your tenants to report maintenance issues when they are yet so small and deal with them swiftly. But certainly, if you don’t have the time or patience to deal with tenants, you may need to look into hiring a property management company to do it for you.

Fair Housing

Last but not least, there’s the cost of fair housing compliance. As a landlord, you must abide by all local, state, and federal fair housing laws. This also includes offering reasonable accommodations for tenants with disabilities and not discriminating against potential or current tenants based on race, color, religion, national origin, sex, familial status, or disability. If you’re not acquainted with fair housing laws, you could immediately find yourself in violation – and running into quite hefty fines! A property management company can help make certain that you, at all times, observe fair housing regulations.

 

Hence, as you can very well see, there are quite a lot of strong reasons to hire a property management company. While a cost is associated with doing so, the benefits far outweigh the cost – particularly when taking into account all the time and money you’ll save! Contact us online today to know more about our prime and much-needed services if you’re wanting to take your rental property business to the next level. We’ll be excited to answer any questions and help you get started!