If you have a rental property in Tacoma, WA, you may be considering finding a Tacoma property management company to help out. But, what does that entail? What are the benefits? Why should you bother hiring a property management company in Tacoma, WA? The following are some reasons why using a Tacoma property manager can increase your profits and decrease your hassle.
Rental Rates
There is a lot the goes into deciding on the right rental rate. More rent equals more income, right? Not necessarily. Of course, you want the most from your investment, but charging rent that is too high means longer vacancy periods and more tenant turnover. At the end of the year, you may have earned less from these two issues than you would have with lower rent and year-round occupants. A property manager can help you find the right rental for the area while maximizing your income and keeping a low vacancy rate.
Screening and Managing Tenants
If you have been managing your own property long, you will have inevitably dealt with difficult tenants. On one end of the scale are the ones you never hear from—meaning they don’t tell you if and when there is a problem with the property, and they take off in the middle of the lease with no warning and no last payment. On the other end are the loud tenants that complain a lot or antagonize the neighbors who then complain a lot. Much of this headache can be staved off with good screening, a strong, detailed lease, and regular management.
A property management company heads off much of the hassle with their thorough, all-inclusive screening. They have a legal team draw up a lease that goes over every conceivable issue. And, a property management service will stay in touch with tenants and properly handle all complaints, so you don’t have to. They also have an emergency, off-hour vendors who can handle maintenance and other late-night concerns as well. Your tenants are covered and you are free to get a good night’s sleep.
Maximize Profitability
The rate most property managers charge typically runs less than you would pay for individual professional vendors. When you add up the costs of everything from paying a company to do background checks to emergency plumbing services, it adds up fast—not to mention taking time out of your own day to show the property and respond to potential and current tenant concerns. When you come out paying less for a property management service than you would on your own, and you have little to no hassle to deal with, it becomes more of a question of why wouldn’t you use a property manager?
These are just a few of the benefits of using a property management company in Tacoma, WA. If you have questions or want to discuss how Olympic Rental & Landlord Services can help you manage your Tacoma rental home, contact us at (253) 777-5591. We are located at 4801 South 19th Street Ste 200, not far from China Lake Park in Tacoma, WA.