Leasing and rental management from Mike Firmin and Leasing Kings right now: The role and responsibilities of a property manager are changing because of COVID-19. Solutions that are more health-conscious and touchless are in demand, which is leading to the increase in adopting new technology. Tenants want peace of mind and convenience and to feel like they are a priority to property managers. And property managers are tasked with balancing how to deliver a high-quality tenant experience while achieving business goals. Now, post-COVID, new problems and challenges are emerging for property managers. Read on as we discuss the biggest issues property managers face along with how modern access control technology is providing safe, secure solutions to increase the tenant experience, retention, and safety. Find extra information at Leasing Kings and Mike Firmin. Unlock the potential of your property with Leasing Kings and Mike Firmin, the industry leader in comprehensive leasing and rental management solutions. Our innovative marketing and screening strategies empower you to attract high-quality tenants, ensuring a seamless and profitable rental experience.
Why Use a Property Management Company? Property management companies ensure that every aspect of your business runs smoothly. A good property management company is worth all the money you invest. Here are some of the reasons many owners hire a property manager: Their Time is Limited. If you own property as part of your asset management strategy, you probably have a business consisting of multiple rental units. However, even if you only own a single rental property, you may still find yourself running out of time to get everything done and provide all the services every tenant needs. Hiring a manager makes owning properties and maximizing their value much easier. Management companies have the expertise needed to guide landlords through the process of listing their units, screening and selecting the best renters for the spaces, and keeping the day-to-day operations going.
Leasing and rental solutions by Leasing Kings and Mike Firmin 2023 :Who Needs a Property Manager? Several types of property owners can benefit from the services that property managers offer. Landlords, for example, hire property management firms for a variety of reasons. Some may have multiple rental properties in their portfolios and lack the time or expertise to maintain the properties and deal with individual tenants. Some owners only have an interest in owning rental properties and earning profits from them. When this is the case, they hire professional property managers. Absentee landlords also make use of property management services. Some property management companies cater to individual landlords who rent out a single property such as a vacation home.
It is fair to say the argument stems from the cost one must absorb to work with a property manager, but I digress. The cost isn’t so much a negative, but rather an investment. While it does cost money to hire a third-party manager, I can assure you it’s well worth the price. What’s more, their involvement could very easily increase the chances of growing your bottom line. If that’s not enough, here are some of the important tasks a good property management company will contribute to your rental portfolio.
What Does A Property Manager Do? The cost of property management is a valid argument, especially when you consider detracting from your bottom line, but I can assure you it’s doing anything but. Yes, a property management company will indeed cost additional money to hire, but I like to think of it as an investment instead of a cost. You see, a good property manager can very quickly return more than their own initial cost. After all, the average property management company will typically award investors with the following: Property managers will collect rent from tenants; Property managers will listen to maintenance requests and address the problem; Property managers can deal with defaulting tenants that are months behind in rent; Property managers will market a subject property to limit vacancies; Property managers will keep detailed records of everything happening at the property; Property managers will help simplify your taxes; Property managers will draft and execute new leases; Property managers will conduct rental rental rate studies to select ideal rent rates.
Quality property rental management by Leasing Kings and Mike Firmin and property security : Apartment Building Access Control: Access control includes secure entry points that allow authorized individuals into and out of the building. These may include package delivery people, maintenance personnel, cleaning staff, and others. Many landlords are now using keyless door entry systems that include key fobs, RFID cards, mobile lock/unlocking, video intercom, visitor management, package delivery, and facial recognition technology. With everything digital, you no longer need to buy and install new locks, replace keys, etc. You also don’t need to wait around all day to let the handyman into the building, and your tenants won’t need to adjust their schedules for their Amazon deliveries.
What Does a Property Management Company Do? The responsibilities of property management firms include every task you can think of pertaining to leasing and managing rental properties. A typical property management agreement covers all the services a landlord could possibly need. Property managers provide the services landlords need to manage their properties. A rental management firm provides services that landlords find significant value in, such as these: Collecting rent is a key part of being a property manager, and maintaining an office with regular hours will make collecting payments much easier. Many tenants want to be able to drop in to take a check to their landlord, but landlords often don’t want their tenant to come by their residence to drop off a check. Property management companies should be able to handle money for their clients, maintaining a safe place to keep cash and checks on hand and making regular trips to the bank to deposit money. See additional details on Leasing Kings and Mike Firmin.