Why should I hire a professional property management company, or real estate management company, to manage my rental property?

If you lack the time or expertise needed for day-to-day management of your commercial or residential real estate investments, an expert property manager can help you.

A property management company can help you:

• Market your rental property to minimize vacancies and maximize income (link: Property managers make their livings because they know the rental market, what comparable properties are renting for, and what potential renters are willing to pay for a rental property. They have the marketing know-how to reach potential renters and they have the experience and resources to weed out potential bad renters);
• Fill vacancies with the best possible tenants;
• Maintain and keep your rental property in good condition (link: Property managers handle and coordinate routine repairs as well as emergency repairs. They have the experience to avoid unnecessary repairs to save you money);
• Track income and expenses to determine profitability;
• Negotiate rental agreements;
• Collect rent and track tenant deposits;
• Comply with federal, state and local laws; and
• Respond to tenant requests and deal with problem tenants

In short, property managers help you make the most from your rental property and they can save you time.