Rental properties need as much upkeep as any other property. If you do not live close enough to your rental property or do not have enough time and energy to keep up with property maintenance, you might want to hire a property management company. Here are a few other scenarios when and where property management help applies to rental properties.
Your Rental Acts as a Vacation Rental for Others
With vacation rental apps and sites becoming widely used and extremely popular, many people are choosing to post their second (and subsequent) homes on these apps and sites as vacation rentals. The biggest challenge of doing so is that the property has to be cleaned and maintained between renters/guests. When you cannot drive or fly to your second property weekly (or more often) to check on any damages in the home, a property manager can do that for you.
In fact, a property manager can even take photographic evidence if some guests trash your home while they stayed there. (You would need this to prove why the guests should not get any money back, and/or to sue them for additional money to cover the costs of damages and repairs.) After the pictures have been taken of messes and damages, the property manager would then clean things for you and restore the home to a comfortable state for the next vacation renters.
Clean-outs and move-ins are a hassle, even when you are doing them for your own benefit. A property manager can handle these cleaning services each time you have a tenant move out. If the tenant chooses to do the cleaning, that is fine, but then the property manager can do a walk-through to make sure everything is clean. Whatever is not clean is charged against the tenant's security deposit. Your property manager should take pictures of what is not clean in case there are any legal issues after he/she finishes cleaning the missed spots.
Post-Tornado and Post-Hurricane Property Management
September through November is major hurricane season. June through early September is tornado season. If either of these powerful storms hits your home, you will want someone to check on it for you. When you are also renting it, you will want someone to check on your tenants to make sure that they are okay. Then you can file all of the necessary claims with your insurance company before your property manager begins the cleanup process.Share
12 September 2018
When I started looking for a new home, I realized that there were a few things I needed to be careful about. For instance, I really needed to focus on finding a home that would appreciate in value, so I began thinking about investing in the right property. After quite a bit of research, I was able to find a great neighborhood that had a big support system for my family. After we found a house we loved, we worked with a real estate agent to procure it, and it was really nice to feel like we belonged somewhere. Read this blog about ways to find amazing pieces of real estate the first time around.