What Does A Property Management Company Do?
Whether you own commercial or residential properties, real estate investment and property management in the Carolinas is a huge responsibility.
As an income source, Bowman Properties believes that owning several properties can be one of the smartest financial decisions you can make. But owning rental properties is like running your own business. The responsibilities can quickly become more than one person (or even a team) can handle.
Handling The Responsibility
A good property management company can handle just about every situation a property owner could come across.
A good property management company is a huge asset to your real estate business.
Property management companies offer a wide variety of services to help you get the best return on your real estate investment.
From dealing directly with current and potential tenants (including complaints and possible evictions), to handling maintenance issues, the goal is to make your life as easy as possible.
Trying to find potential tenants for your property can be a very difficult.
Especially if you have a full time job in addition to managing your investments.
Seasoned property management companies are experienced at purchasing and leasing properties while also understanding the Charlotte metro market.
They use the best industry practices to market your property to get the best possible tenants possible for the most highest possible rent to help you avoid long vacancies.
Whatever your varied reasons for investing in real estate, let’s face it – the main reason is to make money; and the way you do that is by collecting rent from your tenants.
However, rent collection can actually be a fairly unglamorous aspect of the job. Property management companies can be there to handle this so you don’t have to.
One of the biggest mistakes investors make when purchasing property is failing to understand just how much work actually goes into owning and managing their investment. From property inspections to staffing maintenance personnel and keeping up on understanding all the other tasks and issues that may arise in the day-to-day of owning commercial property, there are simply not enough hours in a day to handle everything. Hiring your own staff to manage your properties can become costly very quickly. Property management companies are the ideal solution. They offer the peace of mind of a fully-functioning staff without all of the overhead.
Leasing properties is not just collecting rent and dealing with property maintenance. There are also stacks of local municipality or city ordinances, North Carolina or South Carolina laws, and federal fair housing guidelines that you must take into account. A good property manager will have a thorough understanding of the legal aspect of real estate investment. This helps ensure you stay on the right side of the law.
Lastly, no matter what type of property you own, you are going to experience issues with your tenants. Late rent payments and evictions, squabbles between neighbors, barking dogs in the middle of the night will all take time to resolve. Having the right buffer between you and your tenants can be the difference between sleepless nights and peace of mind.
If you’d like to learn more about Bowman Properties and how our property management services can increase your return on investment, please give us a call today at 704-659-5286 or fill out our contact form.