Once you have invested in a rental property, the responsibility of maintaining and running the property can quickly become overwhelming. For owners, the logical solution is to hire a property management company to oversee their property. But is this the right decision for your property? Far West Realty in Prescott looks to provide you with the answers as to the importance of property management and the benefits it provides to rental owners.
Rent Collection: A property management company has systems and strategies to improve rent collection and on-time rent payments.
Local Knowledge of Rental Rates: Property manager’s have extensive local knowledge of rents and the ability to determine the highest rental rate possible for your property. Overpriced properties sit empty while other properties get rented.
Tenant Screening: A property manager requires a detailed written application, background checks and public notice searches to determine the application is truthful. Property manager’s call past and present employers, landlords and other references. Property manager’s have set requirements and standards for accepting or declining an applicant and ensuring compliance with fair housing rules and other local and state regulations.
Property Law and Regulations: Property manager’s have extensive and up-to-date knowledge of property laws and regulations and will assist you in making sure you are in compliance with your local, state and federal rules and regulations.
The importance for property management is astounding. On top of taking care of the property, they shield owners from tenant and maintenance calls. This allows owners to use their free time as they wish. Call Dave at Far West Realty in Prescott at 928-772-9400.