Owning extra property and turning one into a rental is a great way to generate extra income. You may be considering seeking the help of property management companies to help you manage and maintain your rentals.
In this article we will discuss four key areas of property management that you should keep in mind. Knowing where you stand on each of these areas can help you decide if enlisting a rental property management company is the right move for you. These four key areas are:
- Experience
- Number properties owned
- Time to manage it yourself
- Tolerance for tenants
1. Experience
Investing in real estate has the potential to generate an income but the amount of profit you make is all dependent on factors such as your property management skills. If it’s your first time investing in rental property you may want to consider hiring a reputable and reliable property management company such as Baglien Property Management who have created a name for themselves by:
- Cultivating strong client relationships
- Upholding traditional values of service
- Maintaining an outstanding sense of professionalism
With all these qualities, Baglien Property Management seeks to ensure that you don’t lose money and eat into your potential income because of rookie mistakes such as:
- Hiring the wrong repairman
- Choosing irresponsible tenants
- Not filling rental vacancies quickly and efficiently
All these mistakes are simply due to a lack of experience but can be easily avoided by enlisting reliable from an experienced property management company that owns an outstanding reputation and the expertise to guide your rental investment to success.
2. Number of properties owned
It may be advisable to consider rental property management especially if you own more than one rental unit. By hiring a reputable management company that specializes in rental homes you eliminate the stress of having to deal with issues such as
- Rental property maintenance
- Inspections
- Tenant relations
- Tenant screening
With all these factors to consider, it can become stressful to worry about the state and well-being of every single property you own so the help of a reputable property management company such as Baglien Property Management may be a good choice to ensure your rental properties are well taken care of.
3. Time
Before you even consider if a property management company is a suitable investment for your rental, first ask yourself if you even have time to manage your rental(s) on your own. If the answer is no, then the solution is to enlist the expertise of a property management company. This option may be suitable for your needs as they will be able to provide the time and effort needed to ensure your rental is in tip-top shape and you as well as your tenants are happy with the state of the property.
4. Business
It can become difficult to make decisions with a business mentality if you become too acquainted with your tenants. For instance, if you are aware your tenant has hindering factors that may affect their ability to uphold their legal obligations, such as...
- Children
- Recent job lay-off
- Financial strain
...you may become more inclined to think less from a business perspective. This can make the situation uncomfortable for everyone. By hiring a property management company, you are still able to create great tenant rapport. However, a property management company will help you maintain an appropriate and healthy business relationship with your tenants. By hiring companies such as Baglien Property Management, you will be provided quality services, which include:
- Tenant screenings
- Tenant verification
- Property Maintenance
Contact Us
To find out more information about how Baglien Property Management may be able to help you manage your rental property or to speak to one of our representative about the various services offered please call 403.800.0330 or visit our website and fill out a contact form
