Reasons to Consider Hiring-Out Your Property Management
Regardless of whether you are new to commercial real estate, your investment properties are growing increasingly more difficult to manage, or your property is located hundreds of miles away, you might be wondering what your options are.
You need a property manager in your corner. In fact, more than half of property owners hire a property manager or property management company to steward their real estate investments.
So what can you expect from a property manager? What are the benefits of hiring a property management company?
- Add A Degree of Separation from Tenants
- Market Your Rental
- Oversee Landlord-Tenant Laws & Liabilities
- Trust Southeast Venture
Southeast Venture’s property management team has extensive experience managing diverse types of commercial real estate in Nashville, including mixed-use properties, offices, medical buildings, shopping centers, and much more. Contact us today about your property management needs.
Add A Degree of Separation from Tenants
For many property owners, dealing with tenants is one of the more critical as well as stressful aspects of managing a property. According to BusinessWire, difficult and late-paying tenants are a landlord’s second-biggest pain point, with maintenance requests as the biggest source of stress. A full 60% of property owners reported they hired a property manager for these reasons alone.
From conducting background checks and collecting rent to handling tenants’ maintenance issues and emergencies, a property management company adds a degree of separation between landlords and their tenants. An added bonus? Project managers who are quick to respond and value customer service directly impact and improve tenants’ satisfaction with their rental experience.
Market Your Rental
If you’ve ever wondered which platform or method would be best to advertise your rental property, both to secure the right tenant and achieve the earning potential you want, marketing is a particular area of expertise for a property manager.
Property managers know the platforms that are best for marketing residential, office, industrial, and retail rentals. They also are skilled at drafting copy for the advertisements, directing and selecting high-quality photos to showcase the property, and – in most cases – fielding any inquiries and conducting in-person tours.
Oversee Landlord-Tenant Laws & Liabilities
Commercial real estate is an entire world in and of itself, and with that comes a plethora of responsibilities and laws that you must uphold as a landlord. There are laws about fair housing, evicting tenants, business operations, accounting & taxes, and much more.
Property managers understand the seriousness of upholding landlord-tenant and property laws, and they can be held responsible if they fail to follow these laws themselves. Hiring a property manager that is local to the rental property is also incredibly important for landlords, as states and some counties differ in the intricacies of their commercial property laws.
Trust Southeast Venture
Formed in 1981, Southeast Venture’s property management division has provided professional management and maintenance for over 40 years. Our team is responsible for all aspects of the operation including financial forecasting, budget preparation, monitoring income and expenses, lease administration and documentation, and much more.
Learn more about our comprehensive property management services.