A good property manager will add significantly increased value to your property, in fact most experienced real estate investors said a good management company can be worth their weight in gold. So what are the benefits that make a property manager worthwhile?
You Generally Get Higher Caliber Tenants
Tenant screening can be thought of as the security gates to your property. Of course you can always get rid of a bad tenant, but, it’s an expensive and time consuming hassle, that could have been avoided if they had not been rented to from the beginning. A good property management company, like ParkWest, will put all potential candidates thorough a comprehensive screening process that helps bring in quality tenants that:
Will pay their rent on time
Occupy the unit for a longer period
Cause less damage and general wear and tear
And in general complain less frequently and cause less problems
If you are a new landlord it’s really easy to get to friendly and personal with your tenants. Unfortunately, their are a lot of tenants that are very skilled at manipulating their landlords and purposely creating these types of relationships.
The danger here is that becoming too emotionally connected and friendly with tenants could end up costing you a lot of money, time or worse – create serious legal ramifications.