Property managers have the responsibility of looking after all aspects of running and maintaining an investment property. Some landlords choose to take on this role themselves whilst other landlords seek the assistance of a property management company.
The most common duties of a property management company include:
- Tenant screening
- Organising legal documents
- Manage daily admin tasks
- Rent collection
- Fixing maintenance problems
Whilst investing in property is thought to be “passive income” for the landlord, there are many important responsibilities which come with dealing with tenants and rental properties. Tenant management, property maintenance, and finance tracking are some important areas which need to be properly managed in order to run a successful property investment business. This is where a property management company can come in handy.
Benefits of Using a Property Management Company
By hiring a property management company, you are providing your tenants with a point of contact, preventing tenant turnover from frequently occurring because your tenants are more likely to be satisfied. On top of this, you will have fewer legal issues because you will have professionals who are knowledgeable on the right legal procedures for different situations and can check paperwork regularly.
Your property management company will ensure all rent is paid on time as well. In addition, they will be available on hand to fix any maintenance issues which prop up on the rental property.
Landlords who are left to deal with all of their tenant problems without the assistance of a property management company might experience more pressure than those who decide to use a property management company.
As a landlord, you can live stress-free knowing that your property manager is handling any issues which pop up. This provides you with the passive income you desire as a landlord, offering you more freedom in your day-to-day life.
Looking for residential property management in Auckland? At Home James Property Management we’ll take care of all aspects of residential property management in Auckland to spare the tenant and the landlord any hassle. We provide professional Auckland property management tailored to each individual landlord’s requirements. Get in touch with us today.