3 Ways Property Management Companies are Full Service

For many new or unprepared landlords, it doesn't take long before they realize having a rental property is more than just finding a tenant and collecting rent every month. Some landlords learn quickly or are handy with tools and can manage many of the responsibilities on their own. However, others opt for professional help from a property management company. Though not all property managers are created equal.

Today, we’ll go over three different ways a property management company is full-service.

Repair Coordination

A property management company should have a network of trusted vendors. Having these resources means a full-service property management company can not only handle maintenance and repairs quickly, but it may also be at a better price, as the vendors may have an existing contract with the property management company. This is particularly helpful if you don't have the connections to your own vendors and tradesmen. Additionally, property management companies can schedule and conduct follow-ups with both the vendor and the tenants.

Regular inspections of the property can prevent small issues from becoming expensive problems down the road. Full-service property managers should provide regular inspections of the rental property as well as a detailed report. Full-service property management companies should be available to both landlords and tenants even after hours. In the case of emergency repairs, such as a burst pipe, or a tenant is locked out of their unit, having a full-service property management company provides tenants with security, knowing help is accessible even at night.

Legal Resources

Ensuring tenants are following the lease agreement can be difficult to enforce for a single person, especially if you’ve invested in multiple units. Between unauthorized pets, neighbor complaints, and property damage, a full-service property management company can help to mitigate losses caused by unreliable tenants through regular inspections and communications with other tenants.

Problematic tenants can also result in the need for legal protection as well. A full-service property management company should be up to date on local and statewide landlord and tenant laws, which change often. Being unfamiliar with local laws can result in expensive legal costs. Having this additional resource protects investors while saving them the time needed to coordinate legal steps such as eviction procedures or deposit disputes.

Managing Turnover

Vacancies are the biggest loss to an investor; a full-service property management company can help minimize losses brought by vacancies quickly and efficiently. This can be done by providing high-quality listings using professional photos and videos to showcase the details of your rental unit. Not only should the listing have a comprehensive description, but drone footage and video tours make your rental property stand out to many prospective tenants. Advertising your rental on the top rental platforms maximizes visibility of your unit.

That being said, you don't want to rent your unit to the first person to call. A full-service property management company should have a thorough vetting process to ensure you’re getting the best possible tenant. Checking their background, credit, and rental history are some of the ways a tenant is chosen. The more in-depth the vetting process is, the higher the probability there is for you to find the right tenant. A good tenant means a long-term tenant, which means consistent rental income. 

A property management company should be seen as an investment. An investment that provides a service, which is to save you time. You can then use this time to spend it with friends, family, or invest it in expanding your portfolio. If you’re looking for a new full-service property management company to help manage your Beach City rental property, we invite you to call us today at (562) 888-0247 or complete our Owner Application online.