Benefits of a Property Manager for Owners & Renters

Whether you own a residential investment property or you’re looking for a place to rent, having a property manager is very beneficial. The fact that both property owners and tenants benefit when a property manager is involved makes hiring one a good decision for everyone. Here are the benefits each party can expect from a property manager.

Benefits of a Property Manager for Owners

Investment property owners are the ones who must decide whether they want to hire a property manager. If this describes you, consider the benefits you’ll enjoy from hiring a property manager.

• Save time: If your investment property is something you handle on the side, you might start to feel overwhelmed as you attempt to manage multiple properties on your own. Hiring a property manager frees up valuable time you can spend on other endeavors.
• Get help finding tenants: Reliable, long-term tenants are every property owner’s dream. If you’re having a hard time finding and retaining reliable tenants, a property manager can take on the task for you. From marketing your property to conducting background and credit checks, you can sit back while your property manager takes care of the tenant vetting process.
• Relinquish manager responsibilities: You may be interested in making money with your rental properties, but you don’t want to handle the nitty-gritty paperwork, property maintenance and eviction of delinquent tenants. Your property manager can take care of all the responsibilities you don’t want to deal with yourself.
• Earn more money: When you invest in real estate, you want to see the highest return on investment possible. Once you start working with a reliable property manager, you’ll quickly see that having extra help finding tenants, setting ideal rental rates and handling maintenance tasks enables you to earn more money from your properties. Indeed, hiring a property manager is an investment that pays for itself.

Benefits of a Property Manager for Renters

People who want to rent a home or apartment have many considerations to make before signing a lease. If you’re a potential renter, it’s wise to scope out options that involve a professional property manager so you can enjoy certain benefits.

• Receive fast responses to maintenance requests: From leaky faucets to broken appliances, many things can go wrong in your rented home or apartment. Your landlord is the one responsible for responding to your maintenance requests. By choosing to rent from a landlord who works with a property manager, you can expect faster response times and more reliable maintenance and repairs.
• Work with a professional: Owner-landlords can be unreasonable and selfish. Often those landlords who skip hiring a property manager are in real estate purely for the money, not for making their tenants happy. By only considering rentals where a professional property manager runs the show, you help to ensure a more positive living situation.
• Get access to the best properties: Many rentals are not advertised to the general public and are only available through property managers. To get access to these rentals, simply contact a property manager in your area and ask for more details about the properties currently available for rent.

Coakley Realty is your premier source for quality property management in the Washington, DC, Maryland and Virginia areas. With services that include tenant management, building maintenance and financial reporting, our company benefits both property owners and renters. To work with a reliable property manager in the DC area, please contact Coakley Realty today.