If you've owned income property for any length of time, you know that managing a rental can be financially rewarding. On the reverse, you've probably experienced the large amount of time, energy, and effort the commitment will require.
If you happen to be a handy person, live close to your property, and don't mind devoting several hours per month to the task, it might make sense to take the do-it-yourself approach. If you don't fit those criteria, however, this just seems impractical - particularly if you hope to expand your business.
From economic planning, to taking care of the building itself: this is where we come in. Hiring someone to do the job is the easiest and simplest way to avoid costly mistakes and sleepless nights. We can handle that.
Let us introduce you to our Property Management division. Here's what they can do for you:
6. Setting the right rental rates:
While looking through the classifieds to see what other landlords are charging for similar properties is a fine way to ballpark your rent price; a respectable property management company will conduct a thorough market study in order to set a rental price for your property. This will ensure that you achieve the perfect balance between maximizing monthly income and maintaining a low vacancy rate.
5 . Collecting and depositing monthly rent payments on time:
If you've ever worked in a billing department, you know that securing payment from clients can be difficult; not to mention awkward. Property management companies have efficient, tried-and-true systems in place to effectively collect rent and maintain on-time payments. You'll find this particularly essential if you have a limited number of properties with payment collections a key factor to maintaining your cash flow.
4. Managing tenants:
Dunn Twiggar Property Advisors will manage all aspects of the tenant-landlord relationship. The property manager will handle both repetitive and emergency maintenance, take care of all routine inspections, and manage any situations where conflict resolution is required.
3. Managing vendor relationships:
Property management companies have relationships with maintenance force, tradesmen, contractors, suppliers, and vendors that are almost impossible for an independent landlord to duplicate. Not only will your property manager find the top work for the best price, they'll oversee the job, too.
2. Enabling you to invest in geographically distant properties:
If you manage your own properties, you are, in essence, limited to investment opportunities within a tight radius of your own home. By hiring a property manager, you can take advantage of future prospects in any location you wish.
1. Maximizing the profitability of your time:
By having a property manager take care of the day-to-day aspects of running your income property, you’re free to spend your time focusing on your core business, identifying further investment opportunities, or otherwise broadening your career.
Call Dunn Twiggar Property Advisors today at (610) 865-0887 to discuss how we can help you effectively manage your commercial location and take the headache out of owning your property. Click here to meet the team or here to get in touch with us directly.