As an investment property owner, one of the biggest decisions you’ll face is whether you should hire a Property Manager.
Reasons to consider hiring a Property Management Company:
- own multiple investments
- you live far away or out of state
- you simply don’t have the time
There’s many other reasons you may consider a management company. But, is it the right move?
Therefore, one thing to consider when deciding if hiring a Property Manager is your next business move:
What does hiring a Property Manager do to protect your asset(s)?
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Independently Contracted:
Provides a contract as an independent contractor so that you’re not “managing” as an employer would
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Knowledge and Experience:
Brings knowledge of the current real estate market, investment properties, prospecting (to find good tenants), and experience in all of the afore mentioned plus much more.
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Marketing:
Markets your rental for you, using a professional educated approach of the current market to find the best qualified tenants in the shortest amount of time. Transparent process for owners and tenants using a documented screening procedure.
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Rent Collection/Maintenance:
Collects monthly rent and properly documents in your Owner Ledger. Handles all maintenance costs, preferably using an in-house maintenance team (faster service for tenants, less expensive for owners). Also, they should state they deal with only reputable, licensed (where applicable), bonded and insured maintenance and repair vendors.
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Legal Knowledge:
Handles any and all legal issues – knows the law for the state your investment is located in and how to pursue late rents and evictions to the letter of the law.
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Bookeeping/Accounting:
All accounting functions are handled by a good management company, providing you with monthly statements and breakdowns of any charges to either party. Also, provide any 1099’s for vendors on your behalf.
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Property Maintenance:
Provide routine property checks (following legal steps to enter property) and reports to owners in written format of their findings on every inspection. The management company is your eyes and ears on your investment.
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Acts as a Liaison:
Provides liaison services between you and the tenant. This will ensure your investment is being protected. Also, it may save you any hassle that dealing with a tenant may bring. Making sure the tenancy is secure and your financials are tight. Also, a management company handles all communication pertaining to your tenant and property.
Read more about Owner Services we offer to our customers! Click here to read more on our website. Also, here is another great blog on why you should consider hiring a Property Manager. Click here to read more!
When you decide it’s time to start looking to hire a Property Manager, these are a few of the things you should add to your checklist of requirements.
Furthermore, PLUS Property Management has been in business since 2003 here in beautiful Bend, OR. We service Bend, LaPine, Sisters, Redmond, and Prineville Oregon. Our staff has the knowledge and experience to surpass your expectations in the areas above. We also provide stellar service to our owners and tenants.
If you are looking for a property management company, look no further! We are happy to discuss managing your investment for you! And we will be happy to provide a presentation complete with current market rental analysis and competitive management rates.
Please give us a call today 541-389-2486, or send an email to: Info@InvestOregon.com