Around 79.8% of rental properties are owner-managed. Managing properties works fine for some owners but is too much for others.
These landlords often turn to property management companies for help. A full-service property management company is a business that landlords hire when they need help with their rental property management.
If you're reaching the point where you need help, you can hire a company. But you might wonder what to expect. Here is a guide to help you learn what to expect when hiring a property manager for services.
Full-Service Property Management vs. Partial Services
Property management in Cleveland comes in different shapes and sizes, meaning you can pick and choose what you want.
The first option is full-service property management services. Full-service property management includes every duty your properties need. When hiring a company for full services, you won't have to do a thing with your property.
The other option is to choose partial services. Some landlords prefer keeping some of the management duties but hiring others out.
You can hire a company to take over the duties you don't want to do while keeping the responsibility for the duties you want to handle.
Services They Handle
Secondly, you can expect the property management firm to handle the duties properly. Here are some of the Cleveland property management services you can hire a company to do:
Using tenant screening procedures is necessary for finding great tenants. Yet, many property owners don't use effective techniques. Hiring a property manager is the easiest way to screen tenants, as they'll do it for you.
Additionally, they'll handle advertising and showing vacant units. Full-service property managers also perform rental property inspections and prepare units for tenants.
Properties require routine maintenance, and a property manager will handle this for you. They perform weekly, monthly, and annual maintenance on all the properties they manage.
A property manager also handles the repairs the properties need. This includes regular and emergency repairs.
Benefits for Rental Property Owners
Finally, hiring a full-service property management company offers the following benefits:
- More time to do other things
- No more inconvenient phone calls during the night
- No calls from tenants with issues
- Fewer evictions
After transferring the responsibilities to a property manager, you'll experience freedom and less stress. You'll have fewer duties to handle, yet the work will get done.
Additionally, property managers know how to manage properties properly. As a result, you might see an increase in your cash flow and a decrease in your vacancy rate.
In other words, you might make more money while having less work.
Hire a Property Management Firm Today
You can hire a full-service property management firm to transfer all your duties. However, you can also hire a property manager for some duties instead of all.
Are you interested in learning more about property management services? Contact us if you own rental properties in Cleveland. We offer full-service property management services and would love to hear from you.