Property Management Durham NC Property Owners Need

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Published on: August 11, 2016

When considering property management Durham NC property owners need to ask themselves why they need this service. Even if you own just a single property that you rent out, it can be beneficial to invest in a property management company. Most owners spend a great deal of time managing their real estate investments, navigating new investment opportunities, and balancing tenants. With the help of a professional service, you can reduce the overall time commitment in this process. And, you’ll tap into the experience of professionals who know that market and the industry well.

What Can Property Managers Do for You?

There are many benefits to working with a property management Durham NC company. Consider these:

  • Get help managing the day to day needs of your property. From tenant calls to planned maintenance, there is a lot to do to keep a property running in good condition. With the help of a property management company, you’ll get the support you need without having to handle these concerns yourself.
  • Get help with rent collection and management. Professional organizations like this will work with you to establish rental rates that are competitive within the area so that they attract the right type of tenant. And, they can handle collecting your rent. If people fall behind on rent, the management company then works to collect rent or works through the eviction process for you. Having this legal support by your side can be very important.
  • Take full advantage of the company’s tenant search tools and resources. There is little doubt that finding well qualified tenants in areas like Durham can be a challenge. With the help of a professional, though, you’ll minimize the risk of having open space for too long while also gaining the benefit of services such as background checks.
  • Property management Durham NC companies can even help you to save money on maintenance. Because they have contracts and relationships with area contractors as well as other service providers, this can help to reduce the amount you have to pay to maintain your property. And, of course, they help to schedule and manage any needs that are occurring as well.
  • Property management companies also work with you, if you want them to, on finding new properties to add to your portfolio. For those investors looking to expand their ownership, this can prove to be a very valuable tool. They will help you to make the right decisions about what to buy and where.

Is It Right for You?

Often times, property owners think of property management companies as expensive, but most of the time, they end up saving you money. They also free up a great deal of time for you while ensuring a professional is always by your side throughout the management of your condo, apartment complex, or even single family home. What’s more, you can often customize the services that you get from such companies. This allows you to pay only for the services that you need or want to use. And, that means remaining completely in control of your property and achieving your long term goals of building wealth through real estate ownership.

When should you consider hiring a company for property management Chapel Hill NC?

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Published on: August 5, 2016

Hiring a property management company bears with it many advantages. This is especially so when it comes to getting you reliable tenants, conducting maintenance and repairs, collecting rent in time and saving you the hassle of handling the property issues yourself. However, relying on a property management company is not for everyone. You have to consider some very key factors when deciding on whether to hire or not to hire a property management company. Consider the following factors when making your decision.

1. How many properties or rental units do you have?

Consider the number of rental properties you own and determine if you can effectively handle their management by yourself. The more the properties you own, the more you are likely to benefit from the services of a company dealing with property management Chapel Hill NC. Property management companies are professionals in rental property management and are therefore able to give all your properties the time and attention they deserve.

2. Are you interested in hands-on management?

There are many landlords that look forward to the challenge of maintaining their rental properties on their own. Some get a thrill when it comes to finding good tenants for their property and collecting rent by themselves. However, if you view your rental property as an investment only and want little or nothing at all to do with its day-to-day management, consider hiring a property management company.

3. Do you live near your rental property?

If you do not live near your rental property, hiring a property management company can be invaluable when it comes to dealing with the day-to-day issues that you will not be able to handle from afar. Property management companies have ready-by personnel to handle any issues raised by tenants in time.

4. Can you afford the cost?

Hiring a property management company is a great option to go for if you can afford the fees. Many property management companies will give you quotes ranging between 5 and 10 percent of what you collect in rent revenue. Different companies will charge differently depending on the amount and quality of service they offer in return.

5. Do you want the hassle of handling employees?

If you decide to manage your property by yourself, you might need to hire a resident manager or other employees to help with the management of your property. This will prompt you to start handling payroll issues and a host of other legal requirements and considerations. But with a property management company, you avoid the hassles of being an employer as a property management company is an independent contractor.

 

6. Do you have ample time or is it limited?

Even if you may enjoy hands-on property management, you may not have adequate time to delegate to the management of your property. This is especially so if being a landlord is not your day job. You may prefer to just hire a property management company and get yourself time to spend growing your main business or investing in new areas.

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