There are more than 310,000 registered property management companies in the United States. These high numbers contribute to the property management market size, currently over $90 billion.
Managing several investment properties can be an incredible drain on your time when you own them. There are so many responsibilities to handle which can leave you with less time for more important things like spending time with family.
Thankfully, a good property management company can help take much of the stress and responsibilities off your shoulders. Furthermore, a good property manager can be worth their weight in gold should you and your tenant get into a legal dispute.
Property managers are expertly trained to help you with your investment real estate in Bethesda. If you're not convinced property management companies are the solution, keep reading for three excellent benefits.
1. Thorough Tenant Screening
One of the first duties Bethesda property managers can help with is screening tenants. As you know, renting to the right person or family is vital to protect your investment property. When looking for new tenants, your property management expert will thoroughly screen any applicants.
The tenant screening process typically includes credit reports, employment verification, rental history, past disputes, a criminal background check, etc. Remember to list the screening process requirements in your rental application so applicants are aware and can consent or reconsider their application.
2. Consistent Rent Payments
When you use property management services, rent collection becomes a breeze. Without a good property manager, it's up to you, the landlord, to do things like:
- Keep track of when rent is due
- Send out reminders
- Collect rent
- Initiate legal proceedings
- Handle evictions
When you have property management in Bethesda handling your investment properties, they will take over all these duties and more. They may even include a tenant portal as part of their services where your tenants can pay their rent online and on time.
3. No Maintenance Calls
When you own several investment properties, it's your duty as the property owner to keep up with regular house maintenance. You also have to take your tenants' calls and hear their grievances.
Answering maintenance requests can quickly get out of hand, especially if you're renting out more than one property. Maintenance calls from tenants can include minor issues such as:
- Replacing the batteries in the smoke detector
- Repairing burst pipes
- Fixing the HVAC system
With the right property manager, you won't have to field any of these calls again. Your property manager will contact you if there is anything significant you need to be aware of.
The Best Property Management in Maryland
If you own more than one rental property, the right property management services can make a huge difference in how you handle them. When you hire a property manager, you can benefit from thorough tenant screening, smooth rent collection, and fewer maintenance requests directed at you. This allows you to spend time focusing on other tasks and family.
Contact us today for the best property management services in Bethesda, MD. We offer a free rental analysis and have experts waiting to help manage and maintain your investment properties.