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Pros and Cons of a Property Management Career

Deciding on a career is tough.  It is one of the hardest decisions that most people have to make.  Many people have a hard time trying to determine what they want to do as a career, for the rest of their lives.  It is hard to find a career that you will enjoy and that you’re naturally talented at.  Many people have a hard time narrowing down the options.

 

One of the new up and coming industries is that of property management.  More and more people are going into a property management career.  Property managers are becoming more popular.  Here are some pros and cons for selecting this career.

 

A big pro for being a property manager is that you will be in high demand.  There is not an overwhelming amount of people who are trained and experienced as property managers.  So, those who do go into the field usually have many opportunities for jobs.  Most people with this degree do not have a problem finding or keeping a job.   Another pro for this career is that you have many different companies to work for.  More and more companies are hiring property managers to manage their properties and facilities.   Also, some people start their own property management companies. This is a good option.

 

One con for being a property manager is that it can involve long and inflexible hours.  Whenever there is a problem, or something happens onsite at the property, the manager will likely have to be there, even if it’s in the middle of the night.  Also, many property managers have to work some weekends, especially if the facility is open on those days.  Another con is that there may not be too many opportunities to advance and be promoted.  The opportunity for advancement is just not as prevalent in this field.

 

For more information on property management in Gilbert, AZ, give us a call at (480) 719-1243

Tips on renting out your home

Responsibility

Can a person handle being a landlord?  This is a job everyone cannot do.  It’s not just about collecting rent; it’s about fixing repairs when asked, creating a lease or making rules, keeping curb appeal intact, and be willing to evict someone when a tenant does not pay the rent or follows house rules.  It is one more responsibility a person has to add to their life and you must be physically and mentally ready for it.

Home Preparation

The way the home looks on the inside and outside matters and tenants are becoming pickier.  Every detail must be taken care of because expectations are high.  Clean the home, have working appliances and fixing repairs.  Take a look at the finished home and use features of the home as a way to attract possible tenants.  Use these adjectives to describe the house in newspapers, websites and local places.

Professionals for Hire

Professionals like attorneys and accountants can guide a person to making the right choices with home rental.  An attorney specializing in tax and landlord/tenant laws is best.  Tax and property laws must be obeyed.  That way a person can claim the right taxes on their tax return follow the landlord/tenant laws in their state and understand community rental property rules.  Get assistance with Chandler property management as well.

Pricing

The price needs to be right.  Learn what other rental properties in the area are pricing their property and then set a competitive price.  Tenants want to save when they can and a good deal will easily attract them to you.

Tenant Screening

If a tenant wants to live in the home choose wisely.  Avoid headaches and stress now by asking for references, checking their background and credit history and safety precautions. Ask for a security deposit and arrange a payment schedule when the right one is found.

The benefits of using a property management company

Hiring a property management company is a good investment.  Their expertise is worth every penny and can ease the stress of maintaining property on your own.  There are benefits to hiring one as opposed to doing this yourself.

  • A better chance of quality tenants that pays rent on time, causes less problems, causes less unit wear and tear and remains loyal by renewing their lease.
  • Fewer chances of time-consuming and costly legal problems thanks to their knowledge on landlord-tenant laws
  • Less vacancy time between a person moving out and another one moving in
  • An systematic approach that will keep tenant retention high
  • A better way to collect rent on time without having to deal with problems and excuses
  • Assistance in tax deduction
  • With repairs they have their own maintenance team which will reduce the time and money a property owner would have to do alone.
  • Their repairs will increase the value and curb appeal of the property investment.

Property management Gilbert AZ knows exactly what they are doing.  They will screen clients and weed out the ones that are not good for the property.  Lawsuits are avoided with them as opposed to handling legal issued alone.  Places are prepared, prices are adjusted and marketing are taken care of.  Their process will have tenants staying in the rental home longer.  They are the middleman between you and the tenant when it comes to rent.  They help with tax deduction and professional contractors can handle repairs when the money isn’t there.  The property value will increase through preventative maintenance and fixing repairs early.  Owners will personally feel less stressed, more freedom and more time to do other things.  The right property management company will do everything for you; all a person has to do is oversee everything and make the final decision.