If you are a property owner in Anne Arundel County, and are looking to rent out your unit, you might be wondering whether you should hire a professional property manager or manage it yourself. You might also be considering hiring a less experienced property manager who charges lower fees. Let’s explore why professional property management in Anne Arundel County command higher value than self-managed units or those managed by less experienced property managers.
Doing it Right: Going Professional
Professional property managers have the expertise, experience and resources to handle all aspects of property management, from marketing and tenant screening to maintenance and legal issues. They can help you maximize your rental income, minimize your vacancy rate, reduce your expenses and protect your investment.
Here are some of the benefits of hiring a professional property manager:
- They can market your property effectively and attract qualified tenants who are willing to pay higher rents and stay longer.
- They can screen tenants thoroughly and conduct background checks, credit checks, income verification and references to ensure they are reliable and trustworthy.
- They can handle rent collection, lease agreements, deposits, inspections, repairs, evictions and other legal matters in compliance with local and federal laws and regulations.
- A professional Anne Arundel County property management firm can maintain your property in good condition and perform regular inspections, preventive maintenance and repairs to prevent costly damages and liabilities.
- They can deal with tenant complaints, requests and emergencies promptly and professionally, ensuring tenant satisfaction and retention.
- They can provide you with accurate and timely financial reports, tax documents and advice to help you optimize your cash flow and tax deductions.
Doing It Wrong: A Lesser Alternative
By contrast, self-managing your property as a DIY manager, or hiring a less experienced property manager, can expose you to various risks and challenges, such as:
- You might not have the time, knowledge or skills to manage your property effectively and efficiently, especially if you have multiple units or live far away from your property.
- A firm with lesser experience of property management in Anne Arundel County might not have access to the best marketing channels, tools and strategies to reach potential tenants and fill vacancies quickly.
- They might not be able to screen tenants properly and end up with bad tenants who damage your property, default on rent payments, cause complaints or legal issues.
- If you DIY, you might not be able to collect rent on time, enforce lease terms, handle deposits or deal with evictions in a lawful manner.
- You might not be able to maintain your property adequately and face costly repairs, lawsuits or fines due to negligence or violation of codes and standards.
- You might not be able to communicate with your tenants effectively and resolve their problems or concerns in a timely manner, resulting in tenant dissatisfaction and turnover.
As you can see, properties managed by professional property managers command higher value than self-managed units or those managed by less experienced property managers because they offer more benefits and fewer risks for both owners and tenants. Our professional property management team at Treu can help you increase your rental income, reduce your expenses, enhance your property value and protect your investment. If you want to enjoy these advantages, contact us today and let us take care of your property management needs.
