Out of the 10 million landlords who own at least one rental property, a whopping 51% of them use property managers. Many landlords are overwhelmed by taking care of a rental and full-service property management can take a weight off their shoulders.
If you're thinking about hiring a full-service property management company in Saratoga Springs, doing so can be more beneficial than you might expect. A property manager takes on a lot of different tasks on behalf of landlords and can care for your property from start to finish.
Here are the top responsibilities of a full service property management company in Saratoga Springs, NY.
Marketing the Property
One of the primary concerns of a full-service property management company is marketing a rental property and helping fill vacancies.
A property manager can run ads to get the word out about your rental. They can also arrange viewings and answer questions that prospective tenants have.
Screening Tenants
Once a tenant shows interest in your property, a property manager can screen them and determine whether they'll be a good fit. They'll do this by performing a background check. They'll learn more about a tenant's credit history, rental history, and income.
By qualifying the tenants who will rent your property, there will be less chance of choosing a tenant who doesn't pay rent on time or causes a lot of problems.
Collecting Rent
Once a tenant is chosen for a property, a property management company can collect rent as well. They'll accept rent from tenants and ensure that it gets to you.
If there are any payment issues, a property management company can deal with them. A property management company will also collect late payments. They can charge late fees as necessary.
Daily Operations
In addition to collecting rent, there are many other day-to-day tasks to handle when managing a rental. The company can take care of all of these for you. If there are tenant complaints or tenant disputes, they can handle them.
A property manager can communicate with tenants on your behalf. They can keep good relations with them while responding to maintenance requests. They'll facilitate rental property inspections, maintenance, and repairs with contractors, ensuring that your property is well taken care of.
Financial Reporting
A full-service property management company can also help provide financial reporting and accounting services. They can give you detailed information regarding expenses as well as cash flow that relates to your properties.
In addition to this, they can also make payments on your behalf. They can ensure that all of them are paid promptly. This includes your mortgage payments, home insurance, HOA dues, and any other expenses.
Using Full Service Property Management
If you want to get the most out of your properties while minimizing your burden, hiring a full service property management is a great choice. A property management company can handle many tasks, helping to fill vacancies and keep tenants happy.
If you need property management services in the Saratoga Springs, NY area, consider Veno Properties. We go above and beyond to help our clients maximize their return on investment and work efficiently to ensure a rental property stays at its very best.
Ready to learn more? Contact us today to schedule a consultation and learn how we can help meet your needs.
