If you have recently obtained one or more residential properties, you may have decided that you would like to make extra money by renting them out. However, once you start looking into everything involved with being a landlord, you may feel overwhelmed and afraid you may make major mistakes, such as vetting the wrong tenant or doing something that violates a current tenant's rights.
Especially if you are a new landlord, you should seriously consider taking advantage of the services provided by an agency that deals with property management. Not only do they find tenants and ensure that you stay within the boundaries of tenants' rights laws, but there are also a couple of other benefits of hiring a full-service agency to help you when you start out offering residential rentals.
1. They Intercept and Take Care of Any Maintenance Issues No Matter What Time the Tenant Calls
One benefit of having an agency take over the management of your rental properties is that they intercept maintenance calls. As the landlord, you are responsible for the upkeep of the properties, and if something happens even in the middle of the night like the furnace breaking down on a freezing night, you need to take action.
When you have an agency oversee the properties, however, they take over this responsibility by taking care of the calls. While they keep you informed, they will delegate any tasks that need to be done, including emergency maintenance that needs to be done at night, over a weekend, or during the holidays.
2. They Help You Process Payments and Take Care of Any Required Legal Proceedings With Tenants
Another benefit of having an agency manage your properties is that they take care of the payments and legal proceedings. You do not have to chase down a tenant yourself who has not paid their rent since the agency does this for you. If legal proceedings, such as an eviction must take place, the service will begin the process. They will also make sure that everything is completed according to tenants' rights laws so you do not have to worry about getting into any legal trouble.
When you are a new landlord, being responsible for the incoming calls for maintenance and issues with your properties, collecting rent, and taking care of any unfortunate legal proceedings can become overwhelming. Fortunately, you do not have to go through it alone if you hire a service that can help you. For more information, contact a local full-service property management agency to learn more.