There are a lot of responsibilities associated with owning a rental property. These include responding to calls for emergency assistance at your property, collecting rent receipts, interviewing prospective tenants, entering into and filing eviction proceedings, and cleaning and turning over space in your property for prospective renters, just to name a few. If you work a full-time job in addition to being a landlord, handling these duties can be, at the very least, overwhelming.

The solution to your dilemma lies in the hiring of a competent, professional property management company. A property management company provides you with the operational support necessary for you to own a rental property. The company brings to the table a team of professionals who are knowledgeable in the various aspects of rental property management who can provide you with the needed support necessary to properly manage your property. This reduces your role from rent collector to income maker.

Professional property management gives you back the time you currently spend addressing tenant issues or chasing after delinquent payers. Working with a property management company that has a staff of handyman and other contract professionals (i.e. landscaping, snow removal, trash collection, etc.) means less time on your part contracting and managing these different services for your tenants.

When hiring a property management company for your rental property, ask for a list of the properties they currently have under management. You also want to know how long they have been in the business of managing income properties for the benefit of other landlords as well as their fee structures. It is important before entering into any agreement with a third-party property management if they charge you on a fixed-rate basis or on a percentage of property’s total rental income. These determinations will help you feel secure in your decision to outsource the management of your income property.

If you're looking for a property management consultant, contact Occupancy Solutions today!