If you currently own rental properties and are experiencing difficulties keeping up with all the responsibilities they involve, you could hire a property management company to assist you. Many landlords do this as a way of relieving the duties they have, and this is a great way to free up your time. If you are considering this, it's important to understand that property management companies can handle every single task required with rental properties, and this even includes these three convenient services.
Helping people get in when they are locked out
When a tenant locks him or herself out of the apartment he or she resides in, the tenant may call you to get inside. This can be an annoying type of call to receive as a landlord, especially when the tenant does this frequently. In this case, you might want to charge tenants if they do this repeatedly, because letting them in takes up your time, but you could also transfer this duty to a property management company. If you hire a company to manage your units, they will receive these types of calls and will let the tenants into their units.
Completing emergency repairs
Have you ever received a call in the middle of the night from a tenant for any type of emergency repair? For example, a tenant's toilet might be blocked up, or a tenant might not have hot water. Getting calls in the middle of the night can be very inconvenient, but you could also transfer this duty to the property management firm you hire. Your tenants would call them if they experience any emergency problem, and you would never have to worry about getting calls while you are sleeping.
Another annoying part of being a landlord is trying to collect rent from tenants who never seem to pay on time. Trying to collect past-due rent is not an easy task, and it can be very time-consuming. If you are tired of dealing with tenants who are not paying, hiring a property management firm is your best solution. They will handle collecting the rental income, and they will even handle the eviction's process when needed. You will never have to worry about doing any of these things.
If you no longer have the time or energy your rental units need, hire it out. You can do this by contacting a local property management company and requesting a quote for services.