In general, a professional property management company deals directly with rental clients to provide certain agreed-upon services. In essence, they act as the middleman for any transactions and interactions regarding the property. They operate as an independent contractor in most situations, allowing you to have complete freedom when you can terminate their services and take over. Here is what a property management company does
Handles Maintenance and Repair Issues
One of the main roles of a property management company is to address maintenance issues and upkeep activities. It can be hard for a person who owns a rental property to address every single tenant’s concerns in a timely manner. Rental properties manage this by having a network of maintenance experts on hand to effectively take care of any tenants’ concerns. You can also expect property management to take care of the hiring and payment of any groundskeepers employed on the premises.
One of the more helpful services a property management company provides is handling all steps required to take eviction actions. In most circumstances, eviction is a legal minefield, with the slightest mistake invalidating an entire rental agreement. This is why it’s so great to have professionals trained in handling evictions daily. They will allow you to stay out of any legal trouble that could potentially be around the corner.
Collecting rent is one of the most important tasks a property management company accomplishes on a daily basis. In some situations, collecting rent may be as easy as opening a letter or looking at your phone. However, there may be times when tenants are unwilling or unable to pay rent, which is where these companies come in. These management companies will take care of everything, ranging from legal notices of eviction to the actual eviction itself. This is because these companies take a percentage of profit out of the monthly rent, meaning that they’re extremely driven to get rental payments.
We hope this guide has answered all your questions on what a property management company does. Investing in a property management company is a great idea for anyone who is too busy in their daily life to take care of tenant complaints and repair requests. The biggest pull for a rental management company is that you get more time to yourself! If you’re looking for full-service property management in Florida, reach out to Russell Properties!