There are bout 55,000 landlords in Philadelphia alone, and all of them want the same thing: to get great tenants.
Any good landlord knows that it's not cheap to maintain a property. Yes, the income is good, but if you're not careful, your expenses can become overwhelming.
Did you know that a property management company can help? Read on to learn a few ways that property management services can save you money.
They'll Get You Great Tenants Fast
When you hire a property management company, you're also hiring a team of people who know how to market your property the right way, so you don't have to.
While some small-time landlords don't need marketing help, in major cities like Philadelphia, marketing can be instrumental in getting you the right tenants for your rental property. You're competing against all of the other landlords in your neighborhood (if not the city), so you need your future tenants to be able to find you.
A good property management team will create the perfect listings and post them where they know potential tenants will see them.
Not only will a property management company help to get your property in front of the eyes of potential tenants, but they'll also help you find the best tenants that will fit right in.
Having good tenants will save you money in the long run. They're less likely to cause damage and less likely to require eviction. While things can happen with any tenant, a property management company will set you up with tenants who give you the best shot at maintaining your rental income.
They'll Handle Maintenance
If you're an independent landlord, you're responsible for all of the maintenance that your tenants request. If you're handy, this isn't a huge problem because you can do it yourself. If not, you're going to be spending a lot of money, even with a well-cared-for property.
When you work with a property management company, you can save money on maintenance. Regardless of whether it's routine maintenance (like HVAC maintenance and yard maintenance) or occasional fixes, it won't burn a hole in your wallet.
You will still be paying for maintenance, but property management teams often work out deals with contractors or have their own in-house maintenance staff to keep the costs down.
They'll Make Rent Collection Easy
Do you ever struggle financially at the beginning of the month if tenants don't pay rent on time? A property management team can help.
Property management companies set up online rent payment portals. They can also talk to individual tenants about late rent if necessary and even set up payment plans.
This makes it more likely for you to receive money on time, and it will keep both you and your tenants safe from the complicated and expensive eviction process.
A Property Management Company Can Help You Save Money
Hiring a property management company is a great decision if you want to start saving money every month. Yes, they come at a cost, but the cost is worthwhile.
At Homeriver Group, we help Philadelphia landlords manage their rental properties with ease. Contact us for a free rental analysis today.
