Benefits of Hiring A Property Management Company?

Property management is a part of estate management and very essential in the of properties to ensure value for money. The objectives of property investment include ensuring that maximum returns are derived in the form of rents or services delivered or both. Effective property management requires planning and ensuring that essential things are put in place before the property is constructed. Property management can be done in-house or outsourced to third parties. Property management is still undefined, especially in Nigeria where its management varies among practitioners. It is unorganized and done by various professionals and non-professionals. Property management is covered by the Law of Contract and social responsibilities and has little attention in Lease Agreements between the landlords and tenants.

Property management refers to the overseeing and management of various commercial and residential real estate properties. This includes taking care of all the daily operations for a property including collecting rent, handling maintenance, tenant complaints, and more. The amount of responsibilities property managers has depends on their contract with the landlord.

Responsibilities of Property Management Company

  • Manage Rent
  • Manage Properties
  • Deals with Prospect directly
  • Handling maintenance and repair issues
  • Responding to tenant complaint
  • They are independent contractor 
  • Marketing land and building 
  • Managing the budget
  • Screening potential tenants
  • Benefit Of Hiring a Property Management Company

    Peace of mind (No Omonile Problems)

    When you hire a good Properties management company, they will secure land that doesn’t have issues especially Omonile or any problem for their clients. A Property Management Company is going to have better taste for their investors and also look at their home both before and after they have tenants move in so they can take care of your property. They will make sure they put the best tenants in your property by going through a very thorough screening process. Finally, they will have the highest rents possible and a tenant that protects your home. This puts more money in your pocket. They take away the stress and make the process easy. They will take care of all the hassle for you so you can live your life. They will give you detailed reports that you can access on a daily, monthly, and yearly basis.

    No Illegal Issue

    Legal problems cost a lot of money and take up a significant amount of time. Without good experience, you may find yourself in constant legal issues. One advantage of working with a professional property manager is that we can help you avoid legal issues and save time and money. Our team fully understands the federal and state laws that apply to the following aspects:

  • Proper safety
  • Unit inspections
  • Tenant evictions
  • Signing as well as terminating leases
  • Collecting and managing security deposits and rent
  • Property Marketing and Advertising for Property Owner Who Needs to Sell or Rent

    Property managers are skilled at rental marketing, including writing rental ads, taking high-quality photos, and hosting open houses. They also have local real estate knowledge and will be able to help you set a competitive rent price. Hiring a property manager with marketing experience can help fill your property sooner and reduce the time it sits vacant. Property Management company knows how to craft ads to quickly attract quality tenants. 

    A good property management company will help you market your property to the right audience. This will not only speed up the time it takes to get a tenant, but it’ll also help you save money. 

    Lower Maintenance Costs

    By hiring a property management company, landlords may also have access to the company’s in-house maintenance team who will keep the property in good working order. It is a much cheaper option than hiring externally. Also, the maintenance team will become familiar with tenants and should ensure that the job is completed correctly and professionally. Tenants are always happy if you offer them good maintenance, not to mention that by doing that you also preserve the value of your assets. By hiring a property manager, you gain access to professional maintenance and a network of licensed, insured, and bonded contractors.

    Personal benefits for owners

  • Free up more of your time: Time is money, and for many investors, their time can be more profitably spent in areas other than servicing their properties. When you focus on asset management you’re working on your business, when you manage your properties, you work in it. Additionally, you have more time to spend with family or friends doing things you enjoy.
  • Less stress: Avoid having to deal with middle-of-the-night emergencies, chasing down rent, evicting people from your property, tenants who wreck your property, rental scams, lousy vendors, and piles of paperwork.
  • More freedom: Live and invest wherever you want with the constraint of needing to be near your properties. You can live and travel without the requirement of always being available if your tenants have a need you have to tend to. Once you have found a good property management company, it doesn’t matter if you live in the same state. Some landlords live in other countries and simply collect their checks every month without ever seeing the property.
  • Lower Repair and Maintenance Cost

    Tenants are typically happier and rent for longer periods when the property is well-maintained. Good property maintenance will also bolster the value of your property. By working with us, you’ll gain access to a network of licensed and insured contractors and professional maintenance. Professional property managers can typically vet their contractors for good pricing and quality work and might be able to negotiate for discounts based on the number of properties they manage. Good maintenance and repairs keep tenants happy and preserve the value of your investment which makes them a very important part of land-lording.

    Making Sure Rent Is Paid on Time

    For every landlord, making sure that rent is paid on time is key. After all, this is why you’re renting out your property in the first place. But, securing payments from tenants can sometimes be difficult. If your tenant continuously fails to pay hire on time, from time to time, it may be necessary to take action. Property managers know the law and know the best ways to handle a situation, including handling evictions if vital.

    If you have any questions for us or need something we might assist with, don’t

    hesitate to reach out and give us a call or send us an email today.

    We look forward to hearing from you soon.

    Email: egdebreakers29@gmail.com

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