If you’re wondering why you should hire a property management company to handle your rental, there are a lot of reasons to consider:
- Property managers know the market and can price your home better.
- Property managers have tighter rent collection processes.
- Property managers have a larger pool of qualified tenants to choose from.
- Property managers have a better screening process.
- Property managers create more retention and shorter vacancy periods.
- Property managers take classes and continue their education in fair housing laws and property laws.
- Property managers have updated leases.
- Property managers are available 24/7 for emergencies.
- Property managers conduct inspections and keep maintenance costs down.
There is a lot more to talk about when you’re thinking about the benefits of professional property management companies. All these things can be broken down into three basic reasons to hire an Ogden property management company: it brings in more money for the owner; it creates more free time for the owner; and, it reduces stress for the owner.
Rental Management Companies: More Money for Owners
Landlords often challenge the idea that a property management company can make you more money. In reality, property managers have a better grasp on the local market and the rental rates. Many times, an owner will be charging $50 a month less than the market demands. That’s $600 per year, which almost pays for professional management services.
Minimizing vacancies also saves you money. Placing a tenant isn’t just about filling vacancies. Anyone can do that. A property manager will find you a good tenant. Problem renters will prey on properties that are self-managed. Professional managers have a less than one percent eviction rate. Bad tenants don’t bother contacting us because they know we have a tight screening process. They’ll take advantage of landlords who are working alone.
Professional property management in Ogden means more cost effective advertising. We don’t just throw up a sign and advertise in a few places. Most property management companies are tied into all the good rental sites and really drive attention to your property. We have relationships with local Realtors, too. We have a whole network of people to serve you and fill your vacancy.
Your property management company will also save you money in maintenance and repairs. A lot of local vendors know they can count on management companies for repeat business, so they’ll offer the lowest possible price to managers. Then, those savings are passed on to you, the owner. Owners get caught up in do-it-yourself madness, but the cost of saving money is often too expensive.
Property Management in Ogden: More Free Time
We save you time throughout the entire leasing and management process. It starts with showings and screenings and background checks. Then, there are more showings and screenings. We create lease agreements and record move-in videos and take photos. There’s also the time that’s spent posting notices and following up on lease violations.
We respond to service calls and remain available 24 hours a day and seven days a week. Your property manager will respond in the middle of the night if necessary. We also take the time to deal with your tenants. You might feel like you have to give a tenant an extension on rent because you have a big heart. You’ll have pet issues and pest issues and legal issues – all of which take up a lot of time, especially if you find yourself in court. Then, there’s the eviction, which takes a lot of time and costs a lot of money. After the eviction, you’ll need to get the property ready to rent again, and everything starts over.
Most property management companies have processes in place to deal with the whole tenant experience and save you time.
Your Ogden Property Management Company Means Less Stress
Less stress doesn’t mean no stress. You’ll still get called about the furnace breaking down or the water heater blowing out, but it won’t be in the middle of the night. We handle the what-ifs: what if a tenant doesn’t pay, what if there’s a flood, what if the furnace needs to be replaced. These things raise your stress level, and provides an excellent reason to hire a property management company.
All of these topics can merit their own blog, and we’d love to tell you more. If you have any questions about the benefits of using a property management company, please contact us at Reeder Asset Management. We serve properties and owners in the Wasatch Front. Our offices are in Logan, Brigham City, Ogden, and Salt Lake City.