If you own a rental property in West Palm Beach, Florida, or the surrounding areas, hiring a property manager can make all the difference to your success as an investor and as a landlord. Between taking full control of the day-to-day operations, giving you the ability to invest in geographically distant properties, to managing all vendor relationships with contractors, there are no downsides to hiring a property manager. But, while these perks are fantastic, there are 5 other reasons you should hire a property manager in West Palm Beach.
1. Getting You The Perfect Rental Rates.
When you hire a property manager, you’re gaining their extensive experience and knowledge of the West Palm Beach area, ensuring that you get the perfect rental rates for your property. They can do this because they are experts when it comes to in-depth market research, so they can take a look at a geographical area and provide you with the best rental rate options to maximize your profits year-round. It doesn’t matter if you’re looking to provide short-term rentals during peak periods, or long-term rates for permanent residents. A property manager will be able to strike the right balance between maximizing your monthly income while maintaining a low vacancy rate.
2. Finding You High-Quality Tenants.
A property management company will do extensive background checks on all tenants that submit an application to rent from you. They will make sure that they pay rent on time, that no damage will be done to the property, and they’ll verify employment, credit, and collect previous landlord references. In handing off this responsibility to the property manager, you’re handing the reins over to those who can find the best possible tenants for your property. This will lead to a lower vacancy rate and fewer headaches further down the line.
3. Payments Will Be Securely Collected.
Say goodbye to awkward conversations and difficulties in securing rent payments. In hiring a property manager, they will take over the responsibility of collecting the rent from your tenants, paying out expenses, and depositing the money on time into your account. This includes managing all payments to contractors, maintenance workers, or other professionals who work on your West Palm Beach rental property, and ensures that your cash flow remains positive.
4. Managing Tenant-Landlord Relationship.
A property manager can manage all tenant-landlord relationships, which includes situations like emergency maintenance, routine inspections, and conflict resolution. This ensures that any communication that is done between your tenants and yourself is done in a professional, and timely manner.
5. Ensuring You’re In Compliance With Housing Regulations.
A property manager is going to ensure that you comply with all housing regulations and property laws both on the local, state, and federal levels. This will protect you from liability, helping you to avoid potential lawsuits, as your property will be up-to-date with all regulations.
If you’re looking to hire a property manager in the West Palm Beach area, give us a call at (877)589-3591. Our experienced professionals will take care of everything for you, and make owning a rental property an enjoyable and stress-free experience! You can check out our website and view testimonials from our other clients, or send us a message with your questions!