Why Do People Use Property Management Services?

stressA property management service is a group of professionals with plenty of experience who work together to take care of any real estate related issues that you may have. Everything they do is in your best interest. They are there to make sure your property is well cared for and that you are getting the best deal out of any arrangement.

You may be asking yourself, why would I need a property management service?

Inside your head there may even be a loud voice clamouring to be heard saying that surely, surely anyone with half a brain can look after their own properties! Right!?

Yes, that voice is correct.

Anyone is able to look after their own real estate. But the big question is how WELL can you take care of your property on your own? The quality is what matters.

To illustrate my point, let’s have a look at the world of difference a property management service can make in your life.

 

Consideration #1: Professional assistance will take a load of responsibility is taken off your shoulders

Life WITHOUT a property management service:

Your hair will turn grey, and fall to the ground like torrential rainfall.

I’m only kidding. But you would definitely be under a lot of stress! After coming home from a long 10 hour shift, you are forced to sit at another desk.

This time, there is a tower of paperwork pining for your attention. Bits of paper litter the floor as you sift through never-ending piles of leasing contracts, legal documents, unknown fees and maintenance reports. All the while, you’re thinking of and typing up rules you want your tenants to abide by.

You also run the risk of forgetting to cover some important points. And in the event that something goes wrong, you will be unable to safeguard your own interests.

paperworkLife WITH a property management service:

After coming home from work, you indulge in a glass of red wine. You kick up your feet on the couch, and watch another exciting episode of Game of Thrones play on your telly.

Before you sleep, you take a cursory glance into your email to find an inbox from your property management service. The message tells you that everything is running smoothly. And there is a document attached waiting for you to sign before everything can be finalised and fall into place.

 

Consideration #2: Sifting through endless tenant applications

Life WITHOUT a property management service:

You are constantly posting advertisements on Gumtree and on Facebook. You have taken over 300 photographs of your house on your phone, but even the best ones are pixellated. You milk your brain for every drop of creative juice it has to paint an attractive description of the neighbourhood and the local area. You do everything in your power to entice tenants.

After attracting enough tenants, you start the process of sorting the potentials from the time-wasters. You go through the exhaustive process of filtering through the application forms to find the best tenant.

You continuously wonder what it is that you’re trying to look for in a tenant, and ponder what makes a good tenant. But you’re always stumped because there seems to be no right answer.

In the end, you decide to book up every weekend you have with tenant interview appointments. That way you can simply see everyone who is interested, and just pick whoever you like the best. (Who, often times, does not end up being the best tenant)

Life WITH a property management service:

Property management services will take care of the majority of the tenant application process. All you do is to have the final say on whether or not you want that tenant.

From correctly marketing your property, to attracting the right sorts of tenants, and down to keeping the tenant; every aspect is sorted for you.

You see, these professional services are there to do all the hard work. This includes investigating into an applicant’s history to uncover their credit score, criminal history, rental history and evaluating their ability to maintain rent payments.

Furthermore, they will liase with tenants on your behalf to arrange for repairs to ensure that the apartment is kept in optimum condition.

Everything they do is carefully planned and carried out according to your requirements.

 

Consideration #3: Sorting out legal documents

home officeLife WITHOUT a property management service:

You are responsible for composing legal documents and contracts to protect your own welfare. You find yourself coming across legal documents with sentences like this:

 

“The tenant, or hereby the jurat, should ex tunc within the intra legem insofar as the non-standing stratum from hereinafter.” What on earth does that mean!?

To tell you the truth, that sentence was a load of jibberish. It was a mish-mash of legal jargon chucked together to illustrate my point that legal documents are very difficult to understand.

Since legal documents are something that you simply cannot deal with on your own, you begin hunting for a good but cheap solicitor to look after your affairs. This means another few hundred hours of dedicated research to find the right person – someone who you can trust – for assistance.

Life WITH a property management service:

All legal aspects are taken care of.

Property management services will often use lawyers who they trust to draw up legal documents and go through loop-holes to make sure you are well protected. In the case of disputes, these lawyers will comb through these documents to make sure you will receive the amount of compensation you deserve.

You don’t need to worry about a thing.

 

Consideration #4: The ultimate cost

 Life WITHOUT a property management service:

You have a spot of extra cash in your pocket because you’ve decided not to use professional assistance. Unfortunately it has cost you something a lot more valuable…time.

Think of the number of hectic hours you’ve spent going through paper work, researching, panicking and stressing in your spare time. These valuable times could have been better spent with your family or indulging in your favourite hobbies.

smilingYou can always save up on cash by putting in extra hours at work, or by spending less on things you don’t need.

But time? Now that’s something you’ll never get back.

Life WITH a property management service:

Your wallet may be slightly thinner. Yet considering how you don’t have to worry about your property in your spare time, it is certainly worth every penny!

And that’s why people use property management services. These experienced professionals are there to take responsibility for all aspects of your real estate. They take away the stress and make your life easier, stress-free and much more enjoyable.

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