If you’re a landlord you know exactly how stressful it can be to maintain rental properties. As soon as one tenant moves in, another is moving out and with that comes the repair bills. Between paperwork, direct interaction with tenants and time constraints, hiring a rental property management company to assist you is the only logical conclusion.
Reduced Tax Burden
Since 2011, the IRS requires rental income to be reported on property with payments of $600 or more. If you own substantial rental property, this paperwork piles up pretty quick. A property manager can take the brunt of the load by handling your records to ensure your tax filings are in order, avoiding pesky fines.
Lower Tenant Interaction
The work day never really ends for landlords. Even at the end of your day, you’re often going to receive a phone call about a clogged garbage disposal or light switch plate cover being cracked. These are easy fixes that can be handled by the renter, but nevertheless, you have to drop what you’re doing to assist. This is where a property management firm is most appreciated. They can even identify late rent payments, sparing you the trouble of tracking the renters down.
Lets face it, you can’t be everywhere at once. When you’re busy touching up paint in one property, another one is falling to shambles due to renter negligence. Property managers will keep your tenants under scrutiny, assuring that small problems don’t snowball into big, expensive problems down the road.
Wouldn’t it be nice to have someone ready and waiting on the front line when there’s a problem at a property? If you live far away from your rental property, the last thing you want to do is drive there yourself. You’ll save time and effort by hiring a manager to perform maintenance tasks and curtail issues before they become costly. Stay in bed on those late night emergency calls, your property manager will handle it.
When you take into account all the balls you must juggle at once to be a landlord, it’s simply worth the expense to hire a professional staff to manage your property. Obviously this doesn’t mean you’ll be out of the loop altogether, but the stress levels will be minimized. If you’re thinking about hiring rental property management, Real Property Management Midwest is equipped and ready to help you achieve your goals.