How a Property Manager Takes Care of Business – Part 4
Posted by New Home Resource on February 17, 2017 in
This is our final installment in showcasing the specific benefits for owners when working with a Property Manager (but – just a hint – we have a feeling we’ll have more information to share in the future!).
In our previous articles, we shared a lot of information – but in case you’ve happened upon this article a little bit out of order, here’s where we’ve been so far:
- 12 Reasons To Hire A Property Manager introduced an overview of how working with a Property Manager can not only make your life easier, but help to ensure your cash flow is optimized on the properties you own.
- How a Property Manager Takes Care of Business – Part 1 addressed the importance of finding and keeping quality tenants, minimizing potential legal problems, and gaining the ability to rely on your Property Manager’s relationships with vendors.
- How a Property Manager Takes Care of Business – Part 2 explained the importance of setting the right rental rates, marketing/ advertising/showing your property, and the necessity of staying in compliance with the legal requirements a landlord must meet.
- How a Property Manager Takes Care of Business – Part 3 illustrates the many steps involved in locating and screening the right tenants, making sure rents are paid on time, and why it’s so important to keep your property maintained and repaired.
And now, we’ll just wrap it up with these two very important points (if you place value on your time and energy, that is).
Papers, Papers Everywhere
We’ve created an entire series of articles about how a Property Manager can be a very smart choice to handle your income properties – and we’re just hitting the wavetops here. Imagine the scheduling, documentation, legal processes, and more that need to be followed for every single property you own. That’s going to take time, accounting, and some whiz-bang organizational capabilities. If – that is – you’re doing it all yourself.
But a Property Manager can take care of the majority of these details for you much more easily – and here’s the secret: Repetition. The processes and people are already in place to take care of managing your property. Your Property Manager knows the law, the area, and the (seemingly) million-and-one other details that must be followed to make sure it’s all done right.
Just think about having to handle evictions, property inspections, lease negotiations, lease terminations, and the collection of rent from tenants. Tracking the details, keeping the receipts, managing deposits – oy! It can be difficult to organize all of a rental home’s expenses when tax time rolls around, and because of this, many homeowners miss out on some deductions. A Property Manager can provide detailed income and expenses reports as well as cash statements every month – saving you the bookkeeping headache.
What’s This Going To Cost Me?
Many property owners are afraid to hire a property manager because of the cost involved – not realizing they will actually make more money in the long term due to the increased care of the property. And that’s not even considering the time and energy the owner will have available, leaving them free to devote their efforts to more lucrative tasks – like acquiring additional income properties and growing their financial portfolio.
In essence, by hiring a Property Manager to handle the myriad of details, interactions, documentation, and regulations involved with making sure your income property is handled the right way in every respect, you’ll get better tenants that stay longer, have less damage and repairs to deal with, and your property will stay in great shape – all under the watchful and attentive eye of a licensed and experienced manager who is working for you. That will keep your property earning you income for years to come – and isn’t that the whole point? Contact New Home Resource Property Management to learn more. Visit our website or give us a call at 702.365.1000.
New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for property management, a newly built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to provide just the service you’re looking for. Please contact a New Home Resource Realtor® today at 702-365-1000 or at www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, and Kathy Paterniti are all here to help!