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Rentals: 3 Ways Property Management Companies Can Save You Money

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Rentals: 3 Ways Property Management Companies Can Save You Money
Photo by Gregory Butler (Pixabay)

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Written by  Staff Writer
Tuesday, 15 August 2017 23:47

If you have property that you rent out, you'll know from experience that managing such a property or a number of them are not only a source of income, but are also a source of costs, not to mention time. In an endeavor to assist you, we show you just 3 of the ways that hiring a property management company can save you time and money.

 

1. Maximize your rental income

Property managers know what similar properties exist in your area, what they are being rented for and they also understand what tenants are willing to pay. This allows them to advise you on what rental rates to charge, so that you can maximize the return on your investment whilst minimizing the vacancy of your property.

2. Maintenance and repairs

Because the maintenance of your property is one of their primary roles, they can act fast and efficiently. From organizing and overseeing everyday maintenance issues to the urgent situations that need immediate attention. They perform weekly property inspections, which is vital for detecting problems early. They have forged strong relationships with local trade’s people and by offering them steady and repeat business, they often save you the property owner money and time.

3. Minimize vacancies

Hiring a property management company will also help in minimizing vacancies in your rental property, by keeping it rented with quality tenants, whether you choose to rent long term or for holiday rentals. They are professionals that know their markets, they assist you in promoting your property through various networks and marketing channels. And to save you even more money.

 

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