Property management companies help with the administration of the residential, commercial and industrial real estate. Their coverage extends to apartments, office buildings and even mall complexes in certain cases.
Essentially, these companies exist to help provide aid to landlords in any property related matter. A good property management company will typically offer clients several services.
Here’s what you can expect when you seek a property management company’s help:
Evaluating the Property and Setting the Rental Value
Most landlords are ill-equipped when it comes to determining the rental value of a specific property. That’s where the property management companies take over.
Their first job is to conduct a detailed examination of the home’s interior and exterior and take photos of everything. During the inspection, the company will also recommend certain repairs or cosmetic improvements to the house that may increase rental value.
After the inspection is complete, the company then collects all the data on the prevailing rental rates in the area to determine the optimal rent. Once all this is done, they move towards what rental policies the homeowners would like to have.
Marketing the Property for Rent
A lot of landlords choose to rent out their property, but finding tenants is no easy task. Property management companies will take over the rental process and help market the property most effectively. Not only will the company set up advertisements, but they’ll also actively look for potential tenants through their contacts.
Additionally, before they market the property for rent, the property management company will do what they can to get the house ready for rent. They’ll optimise the house’s interior and exterior to ensure that they can get the maximum amount of rent.
Maintenance, Repairs and Remodelling
Even while tenants live in the house, the landlords must ensure that the house remains in prime living condition. When tenants encounter any issues, they have every right to call the landlords and ask them to handle the problem. It can be challenging for landlords to deal with any unexpected maintenance.
That’s another aspect that the property management companies can cover for the landlords. Most organisations offer a 24-hour emergency hotline that handles all the monitoring and maintenance. The project management company has the potential.
Rent collection can be an awkward time for most landlords. A lot of them prefer to let a property management company take over. It can become a hassle collecting the payment, especially if the tenant falls into a habit of paying the rent late.
Property management companies have more experience collecting rent from tenants and more adept at handling clients who make late payments. In the case of late payment, the property management company also can quickly start filing and begin the eviction process.
While property management companies out there might offer more services than these, they typically make up the core services that these organisations perform.
Are you considering getting a property management company to manage your rental home? We have property managers who are experienced in handling rental properties all over Ireland. Contact MTS Property at 014959020 or click here to learn more about what the right property management company can do for you!