If you’ve invested in a single-family rental property, chances are you hope to get maximum returns on your investment and bolster the value of your property. One of the best ways to do this is to hire a property management company, like Specialized Property Management Orlando, and here’s why:
Fewer Legal Issues
One advantage of working with a professional property manager is that we can help you avoid legal issues and save time and money. Our team fully understands the federal and state laws that apply to the following aspects:
- Screening and selecting tenants
- Property safety
- Unit inspections
- Tenant evictions
- Signing as well as terminating leases
- Collecting and managing security deposits and rent
Shorter Vacancy Cycles
Working with an Orlando property management company will help you avoid long periods of vacancy. This is because we will help you to effectively deal with the following responsibilities:
- Preparing your property for rent
- Our team at Specialized Property Management Orlando works hard to know what improvements you should make in order to optimize your revenue.
- Determining the rent rate
If you set your rent too high, it may take you too long to find a tenant. On the other hand, if you set it too low, you’ll likely lose money every month. SPM Orlando can help you determine the ideal rent price for your property using rental rate tools, data on similar properties, and an understanding of the rental property market.
Effective Marketing of Your Orlando Property
Because we at Specialized Property Management have advertised many similar properties before, we know how to craft ads to quickly attract quality tenants.
Lower Maintenance Costs
Tenants are typically happier and rent for longer periods of time when the property is well-maintained. Good property maintenance will also bolster the value of your property. By working with us, you’ll gain access to a network of licensed and insured contractors and professional maintenance. Professional property managers can typically vet their contractors for good pricing and quality work and might be able to negotiate for discounts based on the number of properties they manage.
Personal Benefits
Less stress
By hiring a professional, you won’t need to collect rent, find contractors, or deal with stressful emergencies, paperwork, evictions, damages, or other tedious tasks.
More free time
Due to the demanding nature of property management, it can take a huge chunk of your time, and take you away from other important responsibilities. Delegating your rental property responsibilities to a property manager, like SPM Orlando, will create more free time for you to do what you want. You also won’t have to worry about what will happen to your property or tenants if you want to travel or get out of town for a while.
Make More Money
Some property owners might be wary about working with a property management company because of the expenses involved. However, as a property owner, you should realize that a professional manager will help you get optimal returns due to better and cost-effective property maintenance which will help preserve your property’s value. You’ll also have shorter periods of vacancy due to effective marketing as well as better tenants, thanks to better screening. In the long term, you will end up making more money with a property management company than on your own.
Conclusion
Some of the benefits of hiring a property manager include lower maintenance costs, shorter vacancy cycles, and fewer legal issues. If you would like to know more about what we do here at Specialized Property Management Orlando, check us out online or call us at 407-698-3322.
