Its a great time to by rental properties. NO DOUBT. Low interest rates and high rents in the Charleston / Summerville markets, its a cash cow that is not going to dry up anytime soon. So, you have your property, you know your rate, the next question is do you need a property manager. Well, yes, I think its a good idea.
1. First, most landlords undervalue their rentals by at least 10%. A property manager only charges 10%. PMs collect rent, manage escrows, track repairs and can do the book keeping needed to file the taxes.
2. PMs do the back ground checks, (evictions, jobs, previous landlords, credit checks and criminal back ground checks.
3. PMs have access to repair folks that can get work down, asap, that must, by law, be fixed within a 2 to 3 day period. For an example, try to get an air condition technician in July, 2 days...good luck)
4. PMs, list your rental on the MLS site, allowing all agents an opportunity to show your property. Why do you want real estate agent show your rental, because they are good at what they do and the agent knows renters buy...Its a cheap way to grow the agents business and ensure your tenant will be treated right. A happy tenant, tends to take care of the property...your property.
5. PMs handle eviction processes. A good company like Agent Owned will file leans against tenants who damage the property or try to skip out on paying balances that exceed security deposits.
6. PMs can hurt clients who do not pay their bills, not only through judgments, but through the credit bureau. Tenants tend to toe the line when a PM is involved, versus a single land lord with no clout.
The finial question is what is better having a property management company managed the property or a realtor that works with a property management company, such as AgentOwned. Answer, the REALTOR. why?
1. Agents know renters buy and if the renter is treated badly, they will use another agent to buy.
2. Property management companies manage property. Realtor's can sell your investment.
So if you want to invest or if you need a property management company, Call Dave at 843.922.2003 at AgentOwned. or email me at email@example.com.