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Are Property Management Companies Worth It?

Friday, October 20, 2023   /   by Lauren Wilson

Are Property Management Companies Worth It?

When managing your property, Earl Sanders Realty can save you time, money, and stress. 

Property ownership can be a rewarding investment, but the responsibilities that come with it can be overwhelming. Managing your property, finding reliable tenants, and ensuring everything runs smoothly is a significant undertaking. This is where property management companies come into play, and many property owners wonder if they are truly worth it. We'll take a closer look at the reasons why property management companies are worth considering, and how Earl Sanders Realty might be the best investment for you and your property.

1. Time and Stress Relief:

One of the most compelling reasons to consider a property management company is the relief from time-consuming tasks and the associated stress. Property management involves a multitude of responsibilities, from marketing and tenant screening to maintenance and legal compliance. Even things you might consider to be simple tasks, like collecting rent, can become huge hurdles to deal with. Delegating these tasks to experts in the field frees up your time and reduces your stress levels.

2. Tenant Management:

Property management companies have the experience and knowledge to handle tenant-related issues efficiently. They conduct thorough tenant screenings, ensuring that your property is occupied by responsible and reliable individuals. In addition, they handle all interactions with tenants, including rent collection, lease agreements, and maintenance requests, allowing you to maintain a professional distance.

3. Legal Compliance:

Property laws and regulations can be complex and ever-changing. Property management companies are well-versed in these legal intricacies, ensuring your property remains compliant with all local and state laws. This knowledge safeguards you from potential legal pitfalls.

4. Market Expertise:

Property managers possess a deep understanding of the local real estate market. They can accurately assess your property's rental value and employ effective marketing strategies to attract the right tenants. This expertise helps you optimize your rental income and ensures you get the best renters in your home.

5. Maintenance and Repairs:

Property management companies have a network of local trusted contractors and service providers. They handle maintenance and repairs promptly, preventing small issues from becoming costly problems. This ensures your property retains its value and appeal, while also keeping your tenants happy.

6. Improved Tenant Retention:

Happy tenants are more likely to stay in a property long-term. Property managers focus on providing excellent tenant service, which can lead to increased tenant retention. Fewer turnovers mean less vacancy and more consistent rental income for you.

7. Local Presence:

A significant benefit of working with a property management company is their local presence. If you're not living near your rental property, having a reliable local team ensures your property is taken care of promptly, whether it's routine inspections or emergency repairs.

Property management companies offer valuable support for property owners, making the investment experience less stressful and more profitable. While there are costs associated with their services, many property owners find that the time and effort saved, as well as the peace of mind gained, make property management well worth considering. 

At Earl Sanders Realty, we provide full-service Property Management services in Hampton Roads and surrounding cities. If you're a property owner looking for ways to streamline your real estate investment, consider giving us a call, and let's explore why our services are an invaluable asset for property owners.

For more information on property management, contact Earl at (757) 329-9854 or email earl@earlsanders.com today.

  homeowner tips, investment, property management

Earl Sanders Realty, Inc.
760 Lynnhaven Pkwy, Suite 100
Virginia Beach, VA 23452
Kelly Cordero
Branch Manager / Regional Manager
Mobile: 757-348-7053
Office: 757-689-8778
Email: kelly@cbmmortgage.com
NMLSR ID #282839
760 Lynnhaven Pkwy, Suite 101
Virginia Beach, VA 23452
Branch NMLS ID # 1743533
CBM Mortgage, Inc.– Company NMLS #282839 www.nmlsconsumeraccess.org
CBM Mortgage is an Equal Housing Lender

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