Are you thinking of working with a Salt Lake City property management company? DIY real estate investors often wonder if property management is a good investment to support their long-term wealth.
The reality is, if you want ongoing success to build your financial future, you can’t afford not to protect your investments with the professional property management services expert property managers provide for your Utah property! Hiring a property manager is the best way to maximize your investments and enjoy the fruits of meeting your financial goals.
Why is property management a smart investment? Check out these three reasons why property management companies benefit your bottom line!
1. Property Management Saves You Time
It might seem like you’re saving money by being a hands-on property owner. From fixing maintenance issues to showing your properties during your evenings and weekends, you are probably doing a good job of renting your properties and keeping them in good condition—but is ‘good’ enough?
- Do you ever wonder if the amount of work you do to handle rent collection is worth your time?
- Do you miss having your evenings and weekends to yourself or to spend with friends and family?
The extra income is nice—but it’s costing you valuable time (and moments) with loved ones or keeping you from doing things you’d rather do.
When you decide to work with property management companies, they save your time! Your property manager takes over the daily tasks required for a successful investment property business. Whether you own one property or several, you devote precious time to keeping them running and responding to renters.
When you turn this workload over to a property manager, you no longer have to:
- Be on-call for late-night maintenance emergencies
- Deal with plumbing or other repairs
- Handle resident requests (or complaints)
- Show properties during your nights or weekends.
A property manager is an investment in taking your time back! You relax and watch monthly income payments come in while your expert property manager does the work.
2. Property Management Keeps Everything Legal
Have you noticed how many laws and ordinances are involved with running a legal rental property business? If you haven’t, you could be missing a critical regulation or risking a violation.
Utah Property owners must follow local, state, and federal regulations to maintain a legal investment property operation. From tenant screening to financial reporting and keeping up with maintenance, it’s your job to learn about the laws, make changes, and make sure your properties and business comply—unless you partner with one of the best property management companies!
Most investors don’t have the time to dig into rental property laws and make sure they haven’t missed a change in the law. When you choose a property manager, it’s their job to stay current on all laws and ordinances that apply to your properties. Your property manager helps you:
- Avoid discriminatory practices when screening renters
- Keep your properties up to code and in excellent condition
- File required paperwork to make sure your properties operate legally.
Following the law protects your business from lawsuits, fines, or a requirement to stop operations. Investing in a property manager is well worth eliminating the legal hassle.
3. Property Management Adds a Professional Touch
Should you fix that? You can probably find a few YouTube tutorials and the tools you need at your local hardware store—but should you hire a plumber to fix that broken pipe instead of doing it yourself?
Some of the most challenging things to let go of can be the hands-on tasks you feel like you ‘need’ to do yourself. If you know your way around a toolbox and a few common home repairs, it might be hard to justify paying someone else to take care of property repairs you ‘can’ do yourself.
However, with a property manager, you (and your renters) know you’re getting a professional repair the first time.
- We have a vetted team of contractors to handle repairs, routine maintenance requests, and even emergency maintenance issues for your properties.
- Your property manager schedules repairs promptly then follows through to make sure the repair is completed on time and accurately.
Renters appreciate rental properties that provide professional maintenance and other high-quality services. From the screening and leasing process to how we collect the rent and process renter requests, we prioritize a professional approach to every aspect of managing your Utah property.
Make the Best Investment With Property Management!
Choosing one of the best property management companies is an investment in your rental property success! The Reeder Asset Management team is ready to take on the tasks that take up your free time, do the things you shouldn’t do yourself, and keep your properties up-to-date by operating in compliance with the latest laws.
Are you ready to put your frustrations to rest? Get rid of your rental property stress and let us help! Before you let your next renter move in, download a free copy of our Makeready Checklist to prep your rental property professionally.