It’s vital to compare property managers to ensure you get a good deal at a fair price. Getting a property manager will not only increase the value of your investment, but will remove stress that can accompany being a landlord.
Here are 6 benefits property managers have to offer & how to compare property managers to get the best deal.
1. Better Tenants
The biggest stress to landlords is bad tenants; those that do not pay rent on time, damage your property and the most worrying of all, those that do not leave.
Without experience in the complex tenant screening process, you might end up on the receiving end of the much dreaded “tenant from hell”
Of all the benefits of a property manager, the most vital is is they have tried and tested screening processes ensuring your tenants will:
- Stay long term
- Pay rent on time
- Treat your property as a home
Remember, the property manager has a vested interest in finding the best tenants, for them it means better commissions, more properties undertaken and less work.
2. Reduced Legal Costs
Property managers already have all legal document templates in place which can be easily adapted to your property. This ensures you are covered from all possible dispute angles and there are no delays in getting your property rented.
Alternatives of getting your own solicitors to draw up bespoke agreements are not only going to take longer, but will be far more costly.
3. Effective marketing of your property
The better the marketing for your property, the less your property is left vacant and the more income you receive.
Therefore another benefit of a property manager is that they’re experienced in creating a polished marketing drive to fill your property, with access to a substantial online and high street advertising platforms.
You can also expect:
- Slight (but effective) cosmetic change recommendations to your property to catch the attention of tenants
- Advertisements drafted by experienced marketers to attract more interest to your property
- Professional pictures and floor plans to accompany your property advertisements
4. Guaranteed Rent
Property managers also offer a guaranteed rent service which is by far the best choice if you’re looking to remove any potential landlord stress – a common benefit of a property manager that entices many landlords.
It is exactly what it seems, the property manager guarantees your rent for every week of the year, even if the property is vacant for a period of time.
In addition, you do not deal with tenant searches, rent collection and maintenance of the property, this is all handled by the property manager. There is a small fee deducted from your rental income, but this is the best option for those looking for a hands off approach to being a landlord while ensuring a rental income
5. No stress during rent collection
Another benefit of a property manager is rent collection and issuing late fees.
“Can I pay next month instead?”, “I’m a bit short this month” and “The money was transferred this morning, it will get into your account soon” are common phrases landlords will hear, all of which have the potential to impact your rental cash flow.
A property manager will put a buffer between you and your tenants, allowing them to be the bad cop who has to listen to tenants’ excuses, collect rent, and handle evictions and late payment fines if necessary.
In the event tenants are attempting to avoid paying rent or are short on payments, property managers will fully understand the landlords rights and be able to immediately understand if there is a breach in the lease and what consequences are permissible.
6. Lower repair costs
All properties will require some level of repair during your tenancy agreement and such repairs are vital in keeping tenants happy. Property managers have agreements with the best local, licensed and insured contractors ensuring your property gets quality repairs at a fair cost
Additionally, a property management company will also be able to get discounts on account of their great volume of managed properties.
All in all… a better life!
Compare Property Managers
So the benefits of a property manager is you can avoid dealing with late-night emergencies, evictions, rent collection, repair work, legal jargon, and other tedious tasks. Property managers allow you to focus on your day job, grow your business or even better… relaxing with family and friends
At Rent Round we have the best property managers on our books, making it even easier to maximise the benefits of being a landlord by comparing property managers first. Landlords can search using their postcode and our platform will immediately show the best property managers in the landlords vicinity – The service is completely free!