The vacancy rate for apartments in Denver is around 4%. A low vacancy rate makes finding tenants a breeze. But managing rental properties is still a demanding job.
So you might decide to hire someone to help you with the management duties. But whom do you hire? You hire a rental property manager.
You might wonder how a property manager can help. In fact, you might research this before hiring one. Then you can decide if it's a good idea.
Here is a guide explaining what a rental property manager can do for you.
Prepare Units
When one tenant vacates a unit, you must find a new one to fill it. But there is a turnaround time, as apartments require preparations.
Decreasing this turnaround time increases your cash flow. But it also takes work. For example, the rental property might need paint, new carpet, and other updates.
A property manager handles these tasks. They begin with an inspection. Next, they complete the work the unit needs.
If you hire a property management firm, they'll handle all these steps.
Tenant Services
Rental property businesses rely on tenants occupying every unit. However, tenants create responsibilities. But a property management company can also handle these tasks.
First, they handle tenant screenings. As a result, they find the best tenants.
Additionally, they handle tenant calls and inquiries. They show units, handle conflicts, and respond to repair requests.
Repairs and Maintenance
You can attract better tenants if you maintain your properties. Property maintenance helps your units hold their values. It also makes them look nicer.
Unfortunately, maintenance takes time and effort. A property manager knows what maintenance rental properties need. They also complete all the steps the properties need.
They also handle repairs, including emergency repairs. Your tenants will contact the property manager when they need repairs. Thus, you won't have to handle these calls anymore.
Rent Collection
Landlords have dozens of duties, so why use a property manager? Many property owners use them to free up time. Others use them to reduce their stress.
One benefit of hiring a property manager is they'll handle rent collection. In addition, these firms generally offer owner and tenant portals. These portals simplify this rent-collection process.
Legal Issues
Running into legal issues is a problem every landlord must avoid. Unfortunately, the law can be complicated for landlords. The result is that some landlords break the law inadvertently.
One of the benefits of a property manager is they know and follow landlord-tenant law.
As a result, you can avoid legal issues by hiring a property manager. You'll save money and time by preventing legal issues.
Hire a Rental Property Manager
You'll save time and energy by hiring a rental property manager. Additionally, you'll have someone caring for your properties. Imagine the relief you'll experience when you transfer the duties to a property manager.
Are you ready to learn more? Then, contact us at Mavi Unlimited Property Management. We offer property management services in Denver and would love to hear from you.