Rental properties are a fantastic active investment. However, as you accumulate multiple rental units, the challenges of managing them can become weighty. If you have had difficulty keeping units occupied by quality renters, been overwhelmed with maintenance requests, or had troublesome tenants that made eviction a possibility, you may have considered finding a better way and hiring a property manager.
That’s where a professional property management company comes in. Equipped to handle every concern of your rental units for you, a property manager can help keep your investment working for you while you hardly lift a finger. If the hassles and headaches of managing your rental portfolio have just become too much, you should seriously consider enlisting the help of a Michigan property management company.
Perhaps most importantly, a West Bloomfield property management company will keep up to date on local laws for you. Whether it’s fair leasing practices that come into play when interviewing potential tenants or dealing with a tenant that has outstayed their welcome, a reputable property management company can protect you from a costly and troublesome lawsuit.
Property managers will also manage the entire process of procuring tenants for your units. They will interview, process applications, perform appropriate background checks, and process sound leases and rental agreements. Even better, they handle everything while you go about your daily business, saving you a considerable amount of time while keeping your property financially sound. Additionally, they will handle security deposits, the collection of rent, and any potential assessment of penalties and fees.
Sick of middle-of-the-night calls about an air conditioner on the fritz or a clogged pipe? Property managers can help there, also. Not only will they address these more substantial needs for your properties, but they will also address continual maintenance concerns such as painting or a leaky faucet while ensuring your tenants fulfill the obligations of the lease such as mowing the lawn and shoveling the sidewalks.
No one likes the ugly business of dealing with disrespectful or unreliable tenants. If you retain the services of a property management service, they will take over the responsibility of responding to complaints about things like pet violations and inconsiderate tenants. Additionally, should worse come to worse, a property manager can handle the entire eviction process for you, ensuring that everything is managed to the letter of local requirements.
Property management services aren’t for everyone. However, if your rental units are eating away at your primary career or otherwise becoming too cumbersome to manage on your own, you should certainly research employing the services of a reputable Detroit Metro property management company. They can help maximize your investment while minimizing the stress that those properties cause you.
Download our free Guide to Finding the Best Michigan Property Management Company for more great tips on choosing a property manager.