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Do I Need To Hire a Property Manager for My Rental Property?

Whether you have a single rental space or an extensive portfolio of multiple properties, odds are that you’ve asked yourself this question before. If you’ve done your research and been a part of the industry for any length of time, then you know that property managers are an option for augmenting your own resources and skills. It’s up to you to decide to take advantage of these services. Every landlord’s needs are a little different, but the benefits of hiring a property manager are widely applicable. Before you make your decision, let us walk you through some of the key features and perks that you’d enjoy as a client:

  • The first and arguably most important step in a successful rental property is marketing and advertising. The comp research alone can take quite a bit of time, but then you have to know how and where to advertise your listing for the best results. This can be challenging, especially if you’re unfamiliar with the landscape. Property management agencies will often take care of the creative and analytical aspects of marketing so you don’t have to.
  • Tenant Screening & Evictions. Finding the ideal tenants for your rental property is an entire process on its own. But what if something goes wrong or a tenant is not the right fit for your space? Evictions can be tough and complex. Let a property manager handle it on your behalf.
  • Rent Collection. You’re running a business, and profit is an essential part of the equation. As the landlord, you should expect timely payments from your tenants every month. Automatic rent collection and deposit is a nice bonus of working with a property manager.
  • Bookkeeping & Accounting. Meticulous record-keeping skills are required to keep track of all incoming and outgoing finances. Leave it to the professionals to perform all bookkeeping and accounting duties, including monthly operating statements and bill payment.
  • Whether it’s cosmetic touch-ups between leases or emergency repairs at a tenant’s request, maintenance is an ongoing part of a landlord’s responsibilities. Property management agencies typically have access to a network of contractors for all your needs.
  • Management Software. The most advanced and forward-thinking property managers will digitize information for their clients. You’ll get a bird's-eye view of your bookkeeping and account information, available from a computer, tablet, or smartphone at your convenience.

So, do you need to hire a property manager? If you’re looking to reap the benefits of the services listed above, then the answer is yes! Talley Properties offers all these things and more. Take a look at our main page for a full overview, or get in touch with us today to experience the Talley difference!

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