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How a property manager can help you in 2021

How a property manager can help you in 2021

How a property manager can help you in 2021

Bouncing back from the horror that was 2020 can be a challenge, especially for those who are trying to grow their wealth.

 

If you’re one of them and have decided to step into the real estate market this year, then you’re moving in the right direction. The property market fared surprisingly well and was resilient over the last year despite the pandemic and its impact on other industries.

 

2021 presents a strong opportunity for real estate, but that doesn’t mean you can simply invest your money into a property, wait for someone to buy it, and expect great rewards.

 

It takes a lot of time and effort to attract ideal tenants, ensure that your property is always in good shape, keep your tenants happy, and consistently receive rental payments on time.

 

This can be too much work for one person, particularly if they need to juggle managing their property and working their day job at the same time. Often, deciding to do both means sacrificing whatever free time you have left, which you could have spent on your hobbies or with your loved ones.

 

And let’s face it, no one wants that kind of “all work and no play” life.

 

That’s why having a property manager is important if you want to ensure that your home is being properly looked after without the cost of time on your end.

 

A property manager will not only save you time, but  also knows how to handle your property better - from the sales process to the maintenance stage - since they have experience dealing with property in many ways most owners don’t.

 

Hiring a property manager is also cost-effective for homeowners, and plays a valuable role in allowing you, as the owner, to have  peace of mind in your investment.

What is property management?

 

Property management is the handling and overseeing of everything that occurs in a rental property in order to preserve the value of the property while generating income.

 

The work put into managing property includes marketing rentals, finding tenants, setting competitive rental rates, complying with rental laws, and collecting rent.

 

Property managers are the professionals you can hire as an owner to do all of this on your behalf.

 

A property manager’s main responsibility is to ensure that the rental is being managed according to the owner’s guidance, which can either be written (typically from corporate property owners) or verbal statements (from individual owners).

What does a property manager do?

 

Managing property can be difficult for any investor, as it takes a lot of time, effort, and skill to do it right. 

 

Your property manager is the expert who takes all that load away from you, saving you all that time and work while helping you generate profit as optimally as possible.

 

With a property manager to oversee the operations, maintenance, and administration of your rentals, you don’t have to worry about spending resources travelling to and from your property (especially if you live far away from it), balancing managing all your properties (if you own multiple properties), and having to learn the nitty-gritty about property management.

 

The specific responsibilities of your property manager will ultimately depend on your needs and your goals. However, typically, property managers are well-experienced in the following tasks:

  1. Setting rent prices

 

Property managers typically conduct a survey of comparable homes within the property’s location in order to determine and set competitive rent prices.

  1. Collecting rent


Property managers are also in charge of ensuring that rent is collected in a timely manner.

  1. Screening tenants

 

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