If you are like many Hudson property owners with one or more single-family rental homes, you probably try to keep costs as minimal as possible. So, when it comes to paying for professional property management, you may be questioning whether it’s worth it. To answer that question, you need to consider the cost of not hiring a property management company. For various busy investment property owners, the cost of hiring a property management company pales in comparison to what you would probably compensate if you didn’t employ one. Let’s talk about why paying for professional Hudson property management can save you both time and money!
Time is Money
The first and most obvious reason to hire a property management company is to save you time. If you’re like the average person, your time is probably already stretched pretty thin. But if you’re striving to manage your rental properties on top of everything else, the task can rapidly become insurmountable. When you hire a property management company, they will handle all the little details so you can focus on the most important things.
Property Upkeep and Maintenance
The cost of property upkeep and maintenance should also not be overlooked. Of course, there are particular repairs and maintenance tasks that you are legally required to execute. Also, properties must be inspected regularly to determine if tenants are keeping up with their cleaning and maintenance tasks. If you don’t have the time or expertise to do inspections, repairs, and maintenance yourself, it is advisable to hire someone who does. But who? Seeking reliable service techs for the needs of the entire property takes time – a lot of it! A property management company like Real Property Management Absolute can undertake all the required repairs and maintenance for you, so you don’t have to be scared about it.
Another big responsibility of being a landlord is tenant management. From screening potential tenants and conducting background checks to collecting rent and handling maintenance requests, there’s a lot that goes into being a good landlord. Good tenant relations can help reduce vacancies by keeping tenants longer and lowering lost rental income. It can also help you save money on repairs if you ask your tenants to report maintenance issues when they are small and take care of them immediately. But if you don’t have the time or patience to deal with tenants, you may need to consider hiring a property management company to do it for you.
Last but not least, there’s the cost of fair housing compliance. As a landlord, it is your responsibility to follow all local, state, and federal fair housing laws. This means granting reasonable accommodations for tenants with disabilities and not discriminating against potential or current tenants based on race, color, religion, national origin, sex, familial status, or disability. If you’re new to fair housing laws, you could eventually find yourself in violation – and facing heavy fines! A property management company can help guarantee that you follow all the time with fair housing regulations.
As you can see, the benefits of working with a property management company are abundant. While an expense is associated with doing so, the benefits far outweigh the drawbacks – primarily when calculating all the time and money you’ll save! Contact us online today to find out more about our exceptional services if you’re ready to take your rental property business to the next level. We’ll be glad to answer any questions and help you get started!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.