Business Owners: Do you manage your own business?
By: Brikelle Corcoran, Corcol Commercial Real Estate
Have you ever considered hiring a property manager? Managing a business can take a lot of time and effort. And let’s be honest, time is money! Let me tell you the top 5 benefits of hiring a property manager if it’s something you’ve never considered.
Forward the phone calls to someone else. If your property is an investment property and you want nothing to do with the day-to-day management, a property manager can be the main point of contact. Whether it’s a phone call for a maintenance request, or a question about their lease, let someone else handle it. Property managers are resourceful and often have an established relationship with local contractors and vendors that can handle maintenance requests in a timely manner.
Collecting rent. Securing timely payment from tenants can be tedious and not to mention, awkward. Property managers have systems in place to effectively collect rent and ensure on-time payments. This is important whether you have a small or large amount of properties.
Managing tenants. Not only does a property manager market and advertise your property when it becomes vacant, they find good tenants and will manage any situations where conflict resolution is needed.
It’s more affordable than you think. The idea of hiring a company to manage your property might sound costly. Often times, it’s 10% a month or less. Your money goes a long way. No more driving to your property to check on it or calling a plumber in the middle of the night. Consider it handled. You can’t put a price on peace of mind.
You own several properties. Chances are, the more properties/businesses you own, the more time consuming it is. By having a property manager take care of day-to-day tasks, your time is freed up to spend furthering your investments or otherwise, your career.