There are countless projects, demands, and tasks pressing upon property owners, no matter how big or small the property or portfolio of properties. Whether you own a sprawling second home, a condo, a strip mall, office building or vacation rental, you understand the daily attention a property requires. And if you happen to serve on a homeowners association board, you know that job has demands of its own.
When you try to take care of everything yourself, you can end up with a bundle of unnecessary stress. You may spend countless hours dealing with property management instead of doing what you most enjoy.
Who takes care of your property’s maintenance and repair issues? What about screening tenants beforehand or evicting bad ones? A property manager has proven systems and processes set up ahead of time, so you can sleep better at night and have greater peace of mind.
We invite you to learn about our four pillars — the four kinds of properties for which owners and investors all across the country hire PMI
1. Residential
Are you an investor in residential properties? Perhaps you moved but need someone to manage your dream home until you can return someday. In any case, managing distant or multiple properties can easily take up all the time a property owner has. Besides the obvious maintenance and repairs, you need to screen tenants, stay on top of rent collection, professionally handle difficult tenants, work with contractors and keep the property looking nice.
It also can be tough to stay on top of housing regulations and laws. Having a professional whose focus is keeping you in compliance with those laws protects you from being sued or fined.
Professional management such as PMI often results in better qualified tenants because of the more focused screening provided. Plus, your current tenants will be happier because of the increased care of their homes.
2. Commercial
One of the best things about working with a property management company is that you have access to their knowledge and expertise in marketing and advertising. In the world of commercial properties, vacancies can happen on a dime.
Being prepared to fill those empty spaces as soon as possible is a learned skill in the industry, so taking advantage of a property manager’s ability to promote your spaces can save you a large amount of money.
On the other hand, trying to stay on top of all of the marketing and advertising by yourself is a huge time and energy investment. Typically, those take a back seat to more pressing demands and consequently, many commercial properties lack the marketing they need — and deserve.
By allowing an experienced property manager to handle your marketing and advertising, you can focus more clearly on the tasks you most enjoy doing.
3. Vacation rentals
Do you own a portfolio of vacation rental properties? Or are you preparing to head south for the winter and need someone to look after your home while you’re gone?
Don’t let your vacation rentals or homes go uncared for over several months just because you can’t be there to do it yourself. In order to keep it looking fresh and well-kept, you need someone to clean the property, keep the yard groomed and picked up, and make routine check-ins to ensure everything is safe and secure. Short-term renter or tenants? We manage those relationships, too.
4. Associations
Whether you are on the board of a homeowners association for a condo complex or high-end subdivision, you know that such associations are a lot of work! A property manager can take care of all the details so you have peace of mind. For example, they can screen tenants, manage tenant-to-landlord communication, and draw up leases.
They check for evictions, sex offenses, credit history, and criminal background on potential tenants as well. Property managers have a deep knowledge of licensing requirements, not to mention local, state, and federal laws and regulations.
On top of that, a property manager can handle your showings, which means your association does not have to make someone available to show properties at the convenience of those interested in living there.
If you don’t hire a property manager, you’re essentially hiring yourself. And if property management isn’t what you want to be focusing on, then you’re wasting time (and not saving enough money) in a time-consuming endeavor.
Property managers allow you to focus on the tasks that you enjoy the most — and likely perform the best. Maybe it’s running the company or searching for new properties to buy. Or perhaps you like to raise private equity or rehabilitate properties for flipping. Whatever it is, outsource your property management so you can enjoy being the independent and successful business owner you are.
