Having a little bit of help in life always makes things easier. Your family helps around the house with chores and your co-workers help complete certain projects.
We help each other all the time in life by holding doors, retrieving dropped items and other mundane tasks we hardly notice throughout a day. Why? Not only because it’s the right thing to do, but because it feels nice to make someone’s life easier.
That's why PMI Richmond is in the business of property management in Richmond. We want to make your life easier by taking on the workload and passing you the payload. Here are the top three reasons you want a property management company in your corner as a property owner.
They do their homework
The greatest part of having a rental income property is that you don’t have to be in the industry to make money. You can be a teacher, a doctor or a firefighter and still make returns on your property. No special training is needed. But, if you are to maximize your earning potential, you are best off turning to professionals.
A property management company in Richmond will have the knowledge, skills and technology you need to have a top-producing property. They are able to periodically analyze the demand of the rental market, which means each time you have renters resign a lease, you know the fair rental price of your property in comparison to like properties. This means you are getting the most of your rental without overcharging your tenants or creating unnecessary vacancies in your property. Over the years, this price tailoring and stringent watching of the market can save you loads of money.
No tenant communication
When you’ve got another full-time job, keeping up with the maintenance of a house can be too much. Even more of a strain can be communicating with tenants. When things go wrong, they expect and deserve attention immediately and that isn't always feasible in these hectic times. By having a property management company in charge of your property, you can rest assured that your tenants have the attention they need. A property management company will handle rent collection, maintenance issues, lease enforcement, and every other tenant communication so that you can focus on your own life.
Liability protections
Let’s face it, there is a lot to know about the ins and outs of the real estate industry and unless you have a lot of time on your hands, you won’t be able to know it all. This is where the ultimate value of a property management company can show itself. The list of things to worry about include fair housing, rent control, habitability, safety laws and so many more. A property management company works to ensure you're always in compliance, providing you with peace of mind.
The benefits of working with a property management company go far beyond these three perks. At PMI Richmond we vow to treat your property as if it were our own and give you and your tenants the respect deserved.
