A large portion of landlords are extremely busy and do not have the time to address all of the day to day issues that will inevitably arise. Having tenants can be challenging at times, depending on the particular individuals, and having an experienced property manager working on your behalf will save you the trouble of needing to address maintenance issues, property damages or scrambling to collect unpaid rent payments. 

 Finding an efficient property manager with a proven track record and good references from other clients is a key step in the hiring process. If you are considering looking after a management company to keep an eye on things for you, be sure to ask around town about their reputation. Do other reviewers find them deserving of your trust? Are they honest? Are they successful at what they do? These are all important questions to find answers to. The same goes for an individual property manager. Their character should be regarded in the highest esteem. When you choose someone to fill in as your “eyes and ears” on the ground, you need to know that they are reliable and worthy of your faith in them. 

Yes! A property manager most definitely is a service that is value added to your investment. Someone working in this capacity will ensure the following duties are addressed and handled in an appropriate amount of time. 

A property manager will handle all of the bookkeeping for your property. This category is wide ranging and covers a wide array of services. Marketing costs, tax forms, collecting rent payments, paying for repairs when maintenance issues arise. These are just some of the financial activities that will be handled on your behalf. A good property manager or management company needs to be effective at keeping accurate records and be up front with you as the owner, of any deductions that are coming out of your monthly payment.

Yes! A property manager will handle everything necessary to get your unit rented. Starting at step one, they will advertise your rental and market it with a clear and concise description and high quality color photos. Their leasing agent will be responsible for meeting prospective tenants and showing the property. They will accept and process all applications, and when the time comes they will execute the leasing contract. A good property manager will have checks and balances in place to ensure that you are getting a high quality tenant who will pay their rents on time and take care of the property, maintaining it’s good condition.

Yes! Having a property manager means that should any legal issues arise, they will take care of the problem on your behalf. If a tenant does not pay their rent and needs to be evicted, a manager will be the one to file the legal documents with the state, and if the time comes for a court hearing, they will be the ones to sit in the courtroom. If a complaint with a COA is made, the property manager will address the complaint with the tenant and follow through with making sure the issue is resolved. 

Tax paperwork for you to take to your accountant come April 15th, will also be provided for you. The amount of taxable income you’ve earned that year, along with a record for all maintenance expenses you’ve need to pay for the property’s upkeep, will be given to you to report as deductions. Having someone else maintain these records year round for you is a real time saver and will keep you from spending a significant amount of time gathering all the information together, when the time comes to file your taxes.

Yes! Your property manager will be the point of contact for the tenants renting your unit. When a landlord employs a property manager, most often the landlord will never see or speak with their tenants at all. Any questions, complaints or problems will be communicated directly between the manager and the tenants. The property manager will also consistently make sure that the tenants are complying with any rules and regulations set forth in their leasing contract.

Yes! Your rental property will be maintained by staff working for, or contracted by, the property management company that you hire. If a tenant has any repairs that need to be addressed, they will be able to call in a work order directly to the management company. The management company will send someone out to address the issue, without ever needing to bother you, as long as the maintenance cost does not exceed a predetermined amount that you have authorized.

After learning of all of the aspects a property manager will take care, you can clearly see that enlisting their services will be a great value and boost to the smooth operation of your rental property. 

If you would like to learn more about property management services in the Branson area, call Thousand Hills Realty today at (417) 337-8081 and see how we can add value to your investment. We would love the opportunity to speak with you!