5 Ways a Property Manager Can Help You Save Time

Rental property ownership can be a great way to generate passive income over the long term.

But anyone who actually owns or has owned an investment property knows that going that route is rarely hands-off or passive. Adding tenants to the equation means that issues can rear their ugly heads any time -- not just during regular business hours.

That’s where a property management business can be a godsend. No matter how many investment properties you own, a good property manager can handle the everyday drudgery for you, so you can focus on what truly matters and avoid burning yourself out. 

Consider these five ways a property manager can save you time and make your investment more pleasant and less stressful.

1. They Handle All the Tenant Communication

Tenant relations often become the most time-consuming part of being a landlord. Renters will call complaining about everything from routine maintenance to after-hours emergencies at any time of day or night. Unless you like taking phone calls from irate tenants in the middle of the night, it’s best to consider hiring a reputable property management firm.

A property manager will help take care of your tenants by handling the following things:

  • Maintenance requests and follow-up

  • Lease questions and disputes

  • Rent reminders and collections

  • Entry or inspection notices

  • After-hours emergency calls

Hiring a property manager means you won't need to interrupt whatever you are doing to deal with an after-hours plumbing issue or undertake rent collection. Your property manager will handle these tasks on your behalf.

2. They Handle Maintenance and Repairs

Repair scheduling -- leaky water heaters, infestations, or HVAC woes — takes time. You must find a good contractor, ask for bids, and get the work done.

A property manager, however, can handle the maintenance and repair process more efficiently and productively. These companies have contacts in the contractor and vendor spaces, which means you’ll have access to workers and suppliers offering the best rates for quality service. For instance, when it comes to water heater repairs, a property manager can quickly connect with trusted technicians who specialize in quick, reliable fixes saving you time and potentially costly emergency repairs.

It’s also worth noting that many property managers do regular inspections and preventive maintenance to find small problems before they turn into big issues -- saving you money and time in the long run.

3. They Market Your Property and Qualify Tenants

Vacant properties cost money. But finding new tenants takes time, especially if you’re doing it all yourself. Writing rental ads, taking photos, posting on websites, answering inquiries, showing the unit, and running background checks is a full-time effort.

Property managers handle the entire leasing process efficiently. They know how to do the following:

  • Write compelling rental listings

  • Take professional-quality photos

  • Advertise on top-performing platforms

  • Schedule and host showings

  • Screen applicants with background and credit checks

  • Create legally enforceable lease documents

Their knowledge will equate to faster tenant placements and more predictable income without extra effort that eats up all your time.

4. They Are Up to Date on Legal and Regulatory Issues

What you, the landlord, have to deal with is a complex maze of federal, state, and local law. Knowing the laws and keeping up with changes can be a daunting process.

That’s another reason to hire a property management firm. They will already know landlord-tenant law and understand how it’s applied. As well, they can legally serve notice, follow the right eviction process, and learn about housing standards.

By handling all of the paperwork and deadlines for you, a property manager can save you time.

5. They Provide You With Monthly and Yearly Financial Analysis and Reporting

Keeping track of rent collected, expenses, maintenance charges, and profit is a headache if there is so little time and so much to do.

Computerized accounting reports are often provided by property managers. These reports will include things like the following:

  • Monthly statements of income and expenses

  • Annual totals to accompany tax returns

  • Vendor and maintenance statements

  • Rent collection record

  • Records of security deposits

These are usually presented via a client portal online, removing you from having to spend effort and time creating spreadsheets or digging through reports.

Having a property manager is an investment -- not only in your rental property but also in your time and sanity. From coordinating repairs and managing tenants to staying in compliance with the law and balancing the books, a property manager can help.

You’ll have a better overall experience, however, when you hire a service provider within a reasonable distance from your rental property. It needs to be able to respond quickly. 

That means you must retain the services of a property manager in Houston if you own apartment units, houses, or other rental properties.

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