Property managers can be the ideal support for owners with one or more rental properties in the San Antonio area. If you've managed a property on your own (or if you're considering becoming a landlord), your time and bottom line can benefit significantly from the support of professional property management.
Here are a few ways property managers help you reduce the amount of time you spend on your properties while maximizing revenue.
Avoid Common DIY Landlord Mistakes
Many new landlords make the mistake of trying to manage their properties themselves. While it's possible to do this, it's not always the best option.
There are many common mistakes that DIY landlords make, including not properly screening tenants, not handling maintenance requests in a timely manner, and not following all of the legal requirements for landlords in San Antonio. Hiring a property manager can help you avoid these mistakes and ensure your properties are managed professionally.
Hiring a property management company in San Antonio can also provide tax benefits for property owners.
In addition to keeping track of property expenses to apply as deductions, you may be able to deduct the fees you pay for property management services as a business expense on your taxes. This can help you to save money and maximize your return on investment.
Dealing With Professional Tenants
Bad tenants are a risk when operating rental properties. "Professional" tenants are renters that go from property to property with the appearance of being good tenants during the screening process.
However, after they've moved in, they quickly become terrible residents. From not paying rent to damaging your property, they cause expensive problems. Before property owners can respond appropriately, these tenants are known to leave without notice, making it challenging to recover lost rental income or compensation for repairs.
With a property manager, you can avoid these tenants and trust that if one makes it into your rental, they'll be handled appropriately. Property managers apply a thorough tenant screening process to catch bad tenants before they have a chance to move in.
Shorter Vacancy Cycles
One of the key benefits of hiring a property manager is that they can help you achieve shorter vacancy cycles. This means that your properties will be rented out faster, which can help you to maximize your rental income.
A good property manager will have a marketing strategy in place to attract potential tenants, and they'll also be able to show your properties to prospective renters on short notice. Property management experts also have access to more online listing platforms (including the MLS or Multiple Listing Service) and can pass on marketing savings to property owners due to the scale of their listing efforts.
In addition to marketing your properties, a property manager can help you set the right rental price. Pricing your property too high can result in longer vacancy cycles, while pricing it too low can mean you're not maximizing your rental income. The best property manager will have experience with the San Antonio rental market and can help you to set a fair rental price that will attract high-quality tenants.
Maintenance is an essential part of managing rental properties in San Antonio. A good rental management company will have professional maintenance staff on hand to handle any repairs or maintenance requests that arise. This can include everything from fixing a leaky faucet to handling major repairs like HVAC or plumbing issues.
Having professional maintenance staff on hand can help you to keep your properties in good condition, which can attract and retain high-quality tenants. It can also help you to avoid expensive repairs down the road by catching and fixing small problems before they become significant issues.