PM Real Estate often takes over self-managed rentals from our clients in Greensboro and Wilmington, North Carolina. After a few months, it becomes apparent to our clients how beneficial a competent property management company is to their investments. Below are some of the benefits our clients reap when they hire PM Real Estate:
Higher Quality Tenants
Proper tenant screening can “make or break” rental investments for our property owners. A proper screening process often result in reliable tenants that pay on time, rent the unit long term, properly maintain the unit, and simply cause less headaches for the investor.
PM Real Estate is an experienced property management company that has seen thousands of rental applications and knows how to analyze the candidates for potential red flags. By allowing our management company to handle tenant screening, it shields the owners from an inconsistent screening process that could result in discrimination lawsuits, rental scams, etc.
With our implemented screening process, we recruit higher quality tenants that ultimately become an asset to our property owners.
Tighter Rent Collection
Having a consistent collection policy on rent collection and late payments often can be the deciding factor on having a profitable investment. Collecting rent on time ensures our property owners are maintaining positive cash flow. By hiring a professional property manager, a buffer is created between the tenant and owner, and the property manager, which can assist in the collection of rent. Property managers are trained to collect based on local NC laws, lease agreement, and companywide collection policies.
Lower maintenance and repair costs and preventative maintenance
One of our main goals at PM Real Estate is to preserve, protect, and enhance our property owner’s investments. Good maintenance and repairs keep tenants happy and preserve the value of our owner’s investment. By hiring a professional property management company, you get access to both in-house maintenance staff, as well as a network of vendors who already have been vetted for good pricing and quality of work.
Additionally, at PM Real Estate, we often come up with an overall maintenance plan, which assists in budgeting and maintaining units in a proper manner. We often take over properties which deferred maintenance for many years, which ended up costing owners significant money.
Assistance with taxes
PM Real Estate will assist in putting together any tax forms and documents that are needed to be claim on your taxes. Additionally, often your management fees can be tax deducted.
Legality
A good property manager is usually aware of the knowledge of the NC Real Estate laws that will ensure that our property owners are not leaving themselves vulnerable to a potential lawsuit. North Carolina and federal laws typically will over areas such as tenant screening, evictions, leases, security deposits, and FHA and ADA requirements. These are just some of the laws that landlords need to be aware of if they are self-managing their rentals.
Above are just some of the many benefits to hiring a professional property management company. As always, feel free to visit our website at www.pmrealestate.net to learn more about the services we provide.