The challenges of more regulation, tenant selection and rent collection make it more important than ever for landlords to use a property management company, Harrison Vaughan, Director of Tommy’s Property Management, says.
“Landlords have to comply with a variety of laws and regulations. This can be a complex and time-consuming task.
“Property managers are familiar with these regulations and can help ensure that landlords stay compliant.”
Harrison says selecting the right tenant is crucial to finding reliable and responsible renters.
“Property management companies have access to advanced background-checking tools and can help landlords find quality tenants.”
He points out not every landlord has the time or disposition to collect rent.
“Collecting rent from tenants can be a challenging and uncomfortable process for landlords.
“Property management companies can handle rent collection, ensuring timely payment and reducing the likelihood of payment-related conflicts.
“And a property management company can act as a liaison between landlords and tenants, ensuring that communication is clear, professional, and consistent.”
Harrison says another benefit of using a property management company is maintenance.
“Maintaining and repairing a rental property can be a full-time job.
“Property management companies can handle routine maintenance and repairs, which can help prevent small problems from becoming bigger, more expensive ones.”
Harrison says landlords can use the time they save by using a property management to focus on other tasks, such as growing their real estate portfolio or pursuing other investments.
“Overall, using a property management company can help landlords avoid potential legal issues, reduce vacancies, improve tenant relations, and save time and money in the long run.”