Most investors who have owned rental property for a long time know that managing this kind of business can offer them more financial benefits. At the same time, they also already know that hiring a property management company can relieve them of stress and a lot of time and effort. If you live close to your property, have the extra time, and also like taking on some do-it-yourself projects, managing your property may work out well for you. However, in some cases, this isn’t practical – especially if you plan to expand your business. With this in mind, here are some essential tasks that can make a property manager a good alternative.

Setting the right rental rates

As a landlord, you may want to browse through classified ads to get some ideas on how much you charge for similar properties, which is an excellent way to set the right rental rates. With the property management company at your side, they can conduct a thorough market study to set the right rental price for your property. It ensures your rental company will achieve the perfect balance between maximizing monthly rental income and reducing vacancies.

Collecting monthly rent payments on time

It can sometimes be tricky for an owner to collect rent payments on time. If a property management company works for you, you will have an efficient, tried-and-true system in place to effectively collect monthly rent payments on time. If you own several rental properties, collecting rent payments on time is particularly essential for you, as it can be crucial to maintaining your cash flow.

Marketing and advertising your property

The property manager that you have hired may have a long experience in the field of renting properties, so they will know exactly where to market your property and how to better craft an enticing advertisement to attract tenants. It gives you a good advantage when it comes to filling your properties quickly and effectively reduces vacancies.

Shorter periods of vacancy

A property manager can assist you in handling tasks that can help prevent your properties from being vacant for so long.

They know exactly what to do to maximize occupancy. Your property manager can help you set a standard rent rate rent, avoiding a pricey rent that may make it take longer for you to find tenants. If the rent price is too low, you might be losing money every month. It is essential for every rental company to determine the right amount and to learn the local real estate market.

Finding the right tenants

An experienced property manager can help you spot potential tenants, and will take care of all the crucial rental property details such as securing all criminal background, security checks, credit reports, verifying employment, and getting references from previous landlords.

Managing tenants

While a property manager is an expert in finding potential tenants, he can also manage the rental property in all aspects of the tenant-landlord relationship. The property manager is an expert in handling both routine and emergency maintenance, taking care of routine inspections, and resolving any problematic situations where a sufficient resolution is required.

Managing vendor relationships

Many of the property management companies have easy access to merchants, contractors, suppliers, and vendors that an individual owner may find challenging to access. Your property management companies will not only get the best work for the best price for your property, but they can also effectively do any necessary maintenance projects.

Enabling you to invest in geographically distant properties

For investors who manage their own properties, they’re pretty much limited to investing in opportunities within the radius of where they live. By employing a property manager, you will always have the opportunity to invest in any location you wish.

Maximizing the profitability of your time

When you hire a property manager to take care of the day-to-day aspects of running your rental property, you will have ample time to identify further investment opportunities.

Ensuring that you comply with housing regulations and property laws

Rental companies abide by a multitude of applicable laws and regulations when renting and maintaining properties. These include local, state, and federal laws, as well as fair housing regulations. With the property manager at your side, he can help you avoid lawsuits by keeping your property up-to-date and in compliance with property laws and housing regulations.

A good property management company will have a long experience in handling numerous properties. Their experience confirms to the owner that hiring a property management company is a good alternative versus managing it personally.



Thousand Hills Realty is the premier property management company in Branson, MO. We are here to assist you with every aspect of the management process and we would love the opportunity to manage your rental property for you! Call us today at (417) 337-8081 to learn more about the services we offer.