Did you know Pennsylvania had 115,268 eviction filings in the last 12 months (according to Eviction Lab)? That's only one statistic tracking one of many sources of landlords' worries.
In today's world, balancing your 9-to-5 with being a landlord can feel like tugging between two full-time jobs. That's why more people are hiring property managers to take care of their rental units.
Full-service property management can help free you up to do more of what you love and lets your business benefit from specialized attention. Read on to learn more.
1. Efficient and Effective Maintenance Practices
Maintenance can be one of a landlord's most time-consuming and thankless jobs. Full-service property management includes:
- Quick response to repair requests
- Regular maintenance scheduling
- Routine inspections
Property managers affiliate with networks of reliable local contractors, ensuring they get the best maintenance work at an affordable price. This means that the landlord gets two property management benefits in one:
- Time saved from not having to personally address maintenance
- Money saved by getting better contractors on the job at better rates
Property owners then get to put the time they save into their jobs or hobbies or spend more time with friends and family.
2. Excellent and Compliant Tenant Screening
Tenant screening is critical to protecting an investment property. These checks help property owners find reliable tenants more likely to pay rent on time and care for the property.
However, there are rules and laws that govern tenant screening. You're not allowed to discriminate during the tenant selection process. You also need permission, and you're only allowed to cover the background check costs with a "reasonable" application fee.
One of the best full-service property advantages is a tenant selection process that's perfectly compliant and highly accurate. This allows you to protect your property while avoiding legal risks arising from non-compliance.
3. Reduced Vacancy Rates
A high vacancy rate is extremely bad, especially if you're still making monthly repayments on the property. It can signal low tenant satisfaction (commonly because of bad maintenance), a tough market, a declining local economy, and many other challenging scenarios.
Comprehensive property care from a management company addresses many causes of prolonged and recurrent vacancies. Some of the methods used include:
- Rental property marketing
- A focus on lease renewals and lease renewal strategies
- Professional property maintenance
Rental management services also foster positive tenant relationships. A property manager has the time to devote 100% of their attention to tenants in a way that single investors usually can't. The improved responsiveness keeps tenants happier, improving relations and your return on investment.
Find Full-Service Property Management That Puts Your Needs First
Full-service property management is a smart way to protect your property and improve your income. Property owners get access to more efficient and time-saving maintenance practices, tenant screening, and reduced vacancy rates.
However, you do need to work with the right company. At The Burgh Property Management, we put our property owner's investments and peace of mind first.
Our full-service management is backed by internationally acclaimed experience and two decades of institutional expertise. Contact us today for the best Pittsburgh property solutions.
