The Value of Professional Property Management

The Value of Professional Property Management 

Sometimes hiring a professional property management team seems like a necessity, as when you are moving out of the area but want to keep your property as an investment or to come back to. Sometimes you think you can tackle managing your rental yourself. We contend that hiring a professional property management team actually pays, and here are some things to consider.

What Is Your Time Worth? | Why did you become a landlord? Many people do it to grow their investment portfolio. If you want to grow your wealth, you need time to pursue new properties or projects. It takes time to research and secure growth, time you may not have if you get bogged down dealing with the day-to-day responsibilities of maintaining your properties. 

Tenants’ Problems | Calls from your tenants can come in at all hours. Do you want to spend time driving to your property to address what may be a simple issue? Do you want to spend time on the phone trying to vet the problem to see if you will need to hire a repair person or can fix it yourself? What if the problem is noisy neighbors? How do you address that? A professional property manager is trained to assess issues and diffuse disputes. 

Finding Tenants/Evicting Tenants | Professional property managers have a major stake in securing high-quality tenants, and dealing with tenants that are less than high-quality. The property management fees come from the rent payments collected on your behalf. If you don’t get paid, we don’t either. Management services include screening rental applicants, and motivating current tenants to pay their rents on time. We have specialized skills that make a huge difference in the ability to secure reliable rental payments. This keeps your cash flow steady and predictable. 

Repairs And Maintenance Expertise | A good portion of your property budget goes toward maintenance and repairs. Sometimes it may need more than a quick repair. Think about roof repairs/replacements, HVAC systems, plumbing repairs etc. These are likely items that you would need to outsource. You may need to spend a lot of time researching service providers in your area. The quality and price of the services is important to your profits. Professional property managers have relationships with affordable and reliable contractors. They make the calls, schedule the estimates, and coordinate scheduling. 

Expand Your Investments | It is much easier to expand your investment options to include properties within a larger geographical area if you do not need to worry about showing up at your properties at the drop of a hat. When you have secured the services of a property management team, you can procure properties that are the right fit. 

Your Advocate | Local ordinances? Evictions? Legal issues? Marketing your vacant property? We will handle it all. Property management teams are interested in maximizing your earnings, and providing you assurance that your investment is being well cared for. 

Our property management team stands ready to assist you. Here is a comprehensive list of the services we provide. We currently manage properties in the following Hampton Roads cities: Chesapeake, Norfolk, Portsmouth, Suffolk, and Virginia Beach. Every property is different, so we invite you to contact us or call our Operations Manager, Nick Chandley at 757-512-7225 to discuss your unique needs

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