Being a landlord isn’t an easy job. Managing a rental property in Oklahoma City can take a lot of time and effort. You’ll have to care for the property, manage tenants, and keep track of rent, insurance, and other finances. A property management company like Elite Real Estate can make handling a rental property a far smoother and less risky proposition.
How can a property management company like ours help you with your Oklahoma City rental property? Here are some of the things a property management company can do for you:
Set Competitive Rental Rates
It’s easier than it’s ever been for renters to research properties ahead of time and find out information on the rent before sending in a rental application. A property management company performs detailed market research and compares rental rates for similar homes in your area to determine the maximum rental rate for your property without making it too high.
If you’re renting a property, you want to make sure the people you’re renting to will take care of it and will fulfill all their responsibilities. Having a bad tenant can stress out any landlord. However, with an experienced OKC property management company you can avoid the problem tenants before they ever set foot on your property. In-depth tenant screening helps keep your investment secure and allows you to leave your rental property in good hands.
Handle Problems on the Property
No matter how well-maintained your property is, something will probably break eventually. Whether a tenant damages your property; an aging appliance breaks down or a natural occurrence like high wind, hail, or heavy rains causes damage, your property management company will take care of the problem quickly and expertly. There’s no need for you to get involved in the nitty-gritty unless you want to.
Communicate with Tenants on your behalf
Even good tenants take time and effort to deal with. If you manage your own property you’ll have to be available 24/7, you’ll have to send out rent statements and reminders on a regular basis, and you’ll have to answer any questions your tenants have every time they have them. On the other hand, a property management company can take all those duties on for you. You can be as involved or un-involved in the management process as you like.
Keep You on the Right Side of the Law
New landlords and rental property owners might not be aware of the multitude of local, state, and federal regulations that govern rental properties and landlord duties. Find yourself in violation of them, however, and you’ll quickly learn about the fines and other problems they can create. Working with an experienced property management company will keep you from running into legal issues. It also provides a buffer to protect you against problems with tenants and other issues.
Collect Rent, Inspect Properties, and Other Day-to-Day Tasks
As we mentioned before, being a landlord is more than just finding a tenant and handing them the keys. You’ll have a lot of regular responsibilities to take care of including rent collection, property inspection, accounting, maintenance, and other assorted tasks. A property management company can take the vast majority of these responsibilities out of your hands. You’ll be able to enjoy the financial fruits of your labor with much less actual labor involved.
Give you Peace of Mind
One of the best things about hiring a dedicated property management company is that you know they have the experience and ability to take care of your property, even in your absence. A property management company allows you to invest in properties wherever you choose and know that they’re being taken care of with care and professionalism. You won’t have to worry about destructive tenants, panicked middle-of-the-night phone calls, missed rent payments, or inaccurate records.
Want to learn more about our Oklahoma City property management company and how we can help you take the stress out of renting your property? Call us today at Elite Real Estate and Leasing 405-285-2635. We help property owners in Oklahoma City, Edmond, Norman, Moore, and the rest of the OKC metro area with their property needs. Contact us today to learn about our competitive rates and services, or follow us on Facebook or Google+ to see more helpful advice and information.