ERA Brokers Consolidated offers property management services to help take a little stress off your shoulders. With the perfect combination of star staff members, technology, marketing, and research, ERA brokers will take care of all the heavy lifting, so you don’t have to. It’s a great way to help turn your real estate investments into passive income. Sound like something worth checking out? Then keep reading below!
What Is a Property Manager?
A property manager is a professional who is responsible for the day-to-day management of your property. This often includes completing tasks such as finding and screening tenants, maintaining the property, handling repairs and renovations, collecting rents, and much more. If the property management company you choose to work with offers additional services, you can also choose to have them oversee the marketing for your rental units and handle a variety of administrative tasks. It all depends on what suits your needs best and what you choose to have included in your property management agreement.
What Does a Property Manager Do?
As mentioned above, the main responsibility of a property manager is to take care of the day-to-day operations associated with running a rental property. This can include tasks such as collecting rent, finding new tenants, screening for quality tenants, collecting security deposits, handling maintenance requests, overseeing repairs and renovations, addressing tenant concerns, and maintaining the overall property. In some cases, a property manager may also be responsible for marketing your rental units and handling administrative tasks such as preparing lease agreements and managing the budget. There are a lot of duties a property manager can perform; however, the exact responsibilities will vary depending on the terms of the contract, the management fee, and the type of property being managed. So, be sure to keep this in mind when considering what your individual wants and needs are!
What Types of Properties Does a Property Manager Cover?
A property manager can cover any type of rental property, including apartments, single-family homes, duplexes, triplexes, condo units, and townhomes. Some specialized areas include single-family home property managers, multi-family property managers, and budget property managers. In some cases, a property manager may also manage commercial properties such as office buildings or retail storefronts. ERA Brokers also offers homeowner association (HOA) management to help relieve the stress of volunteer-led associations. If you own a property or properties that have daily operations or require rental management, a property management company like ERA Brokers Consolidated can help.
When Might You Need a Property Manager?
Many different situations can arise where property owners might find themselves in need of a helping hand managing their investments. If you are a property owner or real estate investor, you may want to consider hiring a property manager if:
You Live Far From Your Rental Property
You may need a property manager if you own investment property located far away from where you live. Rental properties and other investment properties can be difficult to keep up with if you have to make a long drive for each visit. It’s important to keep up on the overall maintenance of your properties and promptly address any tenant complaints or maintenance issues. This can pose a challenge if you aren’t located nearby, which is exactly when utilizing a property management company can come in handy.
You Want to Free Up Your Time So You Can Focus on Other Things
This is one of the most common reasons that real estate investors choose to hire a property management company. If you simply do not have the time to manage the property yourself or you would prefer to spend your time doing other things in life, a property management company can help. By hiring a property manager, you can have peace of mind knowing that your property is being well taken care of while freeing up your time to focus on other things.
You Have Multiple Properties or Rental Units to Juggle
Many real estate investors own more than a single property to be managed. If you have multiple properties or rental units, it may be more efficient to hire a property manager to handle the day-to-day tasks associated with keeping up your rental business. This can help avoid miscommunications, organizational gaps, and other management mishaps along the way. It can also help free up your time so that you can focus on the bigger picture, such as finding more properties to invest in or making improvements to the properties you already own.
You Don’t Have the Time or Energy to Deal With the Day-to-Day Management of Your Property
Many property owners find themselves in a situation where they simply don’t have the time or energy to keep up with the daily tasks associated with managing their rental property. If this is the case, it may be worth considering hiring a property manager to take care of these things for you. This can help take a load off of your plate, allowing you to focus on other things in your life.
You’re Having Tenant Problems
If you find yourself constantly having to deal with problem tenants, it may be time to consider hiring a property manager. A good property manager will have experience screening and placing prospective tenants, as well as handling difficult situations that may arise. This can help take the stress out of being a landlord and allow you to focus on other things.
You’re Not Interested in Dealing With the Hassles of Being a Landlord
If you simply don’t want to deal with the hassles that come along with being a landlord, a property management company can help. Since a property manager takes care of all the mundane tasks associated with being a landlord- tenant screening, rent collection, overall property management, etc.- you can check the hassle of property management off your list. The property management firm would take care of everything for you.
Why Should You Hire a Property Management Company?
More Free Time for Yourself
There are many reasons why you might want to hire a property manager, but the most common reason is to free up your time. If you’re like most people, you probably have a full-time job, a family, and other obligations that take up most of your time. Dealing with the day-to-day tasks of being a landlord can be time-consuming and stressful. After all, successfully and efficiently managing a property requires a lot of moving parts. Hiring a property manager can take a lot of the weight off your shoulders.
Maximize Your Rental Income
Managing rent and fees can feel like a sticky situation at times. A property manager can help you maximize your rental income by making sure that your rent prices are up to date and that your rental units are always occupied by qualified tenants. They can also help make sure that monthly rent is collected on time and that any late fees are assessed when necessary.
Improve Your Property’s Condition
A property manager’s responsibilities include the overall maintenance of the property. This means that most property managers will have a team of maintenance and repair experts that can help keep your property in tip-top shape. By keeping your property well-maintained, you can avoid costly repairs down the road and increase its overall value.
Less Stress and Worry
An experienced property management company will take care of all the little details that come with being a landlord, such as handling maintenance requests, screening tenants, gathering signed leases, taking the security deposit, and dealing with difficult situations. This can help take a lot of the stress out of being a landlord so you can continue to enjoy your real estate investing journey.
Minimize Vacancy Rates
Another reason to hire a property manager is to minimize vacancy rates. Property managers work to have a network of potential future tenants and will be able to quickly fill any vacant units. This is important because the longer a unit is vacant, the more money you’re losing. Nobody wants that! Effective tenant screening is an important aspect of minimizing vacancies as well and can be especially helpful in reducing tenant turnover.
Reduce Expenses
A third reason to hire a property manager is to reduce your expenses. Qualified and experienced property management companies will know how to get the best deals on repairs and renovations. They may even have access to exclusive discounts not generally offered to the public. Additionally, a property manager will be able to screen tenants carefully to minimize the risk of damage to your property.
Why Choose ERA Brokers Consolidated as Your Property Management Company?
ERA Brokers Consolidated is one of the most experienced and respected property management companies in Utah. We have a team of highly trained professionals who are dedicated to providing top-notch service to our clients. Our skilled property managers and staff believe in teamwork- working together to create the best outcome possible. We use the latest technology to manage our properties, which allows us to be more efficient and effective. We also have a robust marketing platform that helps us fill vacant units quickly. Additionally, we conduct regular research to ensure that we are up to date on the latest trends in property management. This allows us to provide the best possible service to our clients.
Our goal is to work as a team to make your property management experience as positive as can be. If you’re looking for a property management company that can help you save time and money, contact ERA Brokers Consolidated today! We would be happy to discuss our services with you and answer any questions you may have.