Owning rental properties can be a huge nightmare if you aren’t prepared for all of the responsibilities and obligations. Hiring a property management company is a cost-effective and time-efficient way to handle your property management needs. Below are some of the main responsibilities of a property manager.
A property management company will collect the rent and make sure that reminder notices are sent out to individuals who fall behind in their payments. They will collect late fees as well as any other charges that may apply and deposit them into an account.
Takes Care of Repairs
Management companies will also take care of any repairs that need to be made to rental properties. Most companies have a list of plumbers, electricians or repairmen they can contact when repairs are needed. The work is performed in a timely fashion and the repairs are paid for out of an account that has been established for that purpose.
Assists with Legal Matters
Property management teams also handle any legal matters involving rental properties. This includes eviction notices, rental and lease agreements and filing suit when the property has been damaged by renters. The property manager for each unit is responsible for making sure all legal notices are filed in a timely fashion and ensuring that all cases are followed through to completion.
Solicits New Tenants
When vacancies occur, a property management company will advertise the opening and work with prospective tenants to finalize the legal paperwork needed to get them moved into the property.
Communicates with Tenants
Tenants work directly with the property management company for any issues they may have. A property manager is assigned to each property and will work with the tenants at the location when it comes to collecting the rent, ordering repairs and making sure the property is in excellent condition. The property manager also relays any concerns to the owner of the property and takes any action that they deem necessary.
Property managers handle all of the responsibilities associated with owning any type of rental property. Hiring the right company will put your mind at ease and allow you to focus on other parts of your life. Take a look at the services we offer. If you’re searching for a property management company in Brevard County, FL, contact us to see how All Brevard Property Management can assist with your property management needs.