If you are a real estate investor, a person that has the money to invest in rental properties, but you do not have the time to manage all of them, one way that you can free up a significant amount of time in your week is to use a property management firm. For some people, this is not an option because they like to control every aspect of their business, feeling that others would not be able to do a better job. They also would prefer earning more money from their renters, and paying a portion of those profits to a company that will manage their properties for them might seem like an unnecessary expense. However, as you continue to grow, purchasing more rental units, you may find it virtually impossible to keep up with everything that needs to be done. Whether you are investing in the northern United States, or even in Canada to rent out vacation homes for extra income, here are the reasons that you should use businesses that can manage all of your properties for you, and where you can find the most affordable ones.
What These Companies Will Do For You
There are many things that these companies will be able to do for you, things that would take many hours out of your day. As mentioned before, one or two properties is something that most people can handle on their own, but beyond that, working with a business that can do all of the following tasks is really the direction you should go in. They are able to market your rental property to bring in potential tenants, and will be able to interview all of the applicants and choose the right one. They will minimize your vacancies, helping you to make more money by constantly having renters in all of your properties.
These companies like Ascent Real Estate Management also maintain your rentals, making sure that they are in good condition, and that any problems that the tenants may have are resolved as quickly as possible. Maintaining good curbside appeal such as ensuring that the lawn is mowed, the trees are trimmed, and that if the house needs to be painted, they can take care of all of this for you. More importantly, they are in charge of proper record-keeping which is essential for paying taxes, and also managing how much money that your properties are making or even losing. They will be able to share this information with you, helping you to make better choices in regard to how much you are charging for rent, and provide you with advice on whether or not it is worth keeping certain rentals or if they should be sold.
Finally, they will be aware of all of the federal and state laws that are involved with things like returning deposits to tenants, record all income and expenses for the property, and keep you informed at all times as to what is occurring with the properties that you have put them in charge of. All of this would take an extreme amount of skill on the part of the owner of the properties, as well as a 40 hour workweek in some cases, all of which can be handled by these businesses.
Video courtesy of Red Hawk P.M. in Phoenix
Finding Affordable Property Management Companies In Phoenix Arizona
You can find these very helpful companies in the Phoenix area that serve all of Arizona by doing a quick search on the web. One such company is based out of Phoenix but serves the state of Arizona. There are many different ones to choose from, all of which will have some type of rating, or a series of comments from people that have used their services, helping you to make your decision. It’s good to use one that is in your particular area, ensuring that you can always stop by to find out what is going on. Although a simple phone call or email would suffice, if you are the type of person that likes to connect with those that will be managing your properties, it’s always nice to have them close by. Make sure they have been in business for several years, if not decades, and have no complaints with the Better Business Bureau. Once you have done your initial assessment on your top choices, choose one that will be able to handle all of the properties that you have, and do so for the most reasonable price.
Making the decision to use one of these companies may literally change your outlook on life. It’s nice that you have so many rentals, and it can bring in a substantial amount of money, but it could be taking up all of the time that you have every day. That’s why so many people have decided to go with Phoenix property management companies, like Red Hawk PM, that are able to do all of the work involved with maintaining and managing rentals (see http://ww1.ascentpm.com/rental/our-rental-management-expertise/), helping them to have more time to do their business, find more rentals, or simply have time to relax. Go ahead and do your research today, find one of these reputable companies, and get them working for you.