As a landlord, you want to have a steady stream of income coming in from your properties. Vacancies, delinquent rent payments, and delayed or neglected repairs all make a negative impact on your bottom line. However, if you are busy managing other business interests throughout the day, you may not have time to deal with such issues on your own. With professional residential and commercial property management Phoenix landlords like you can make a profit and keep units rented continuously.
Vacancy Filling and Rent Collection
Vacancies in your building are costly because they do not generate any income while they sit empty. In fact, more than not making you money, they actually cost you because you have to pay for the utilities and upkeep on them even while they are unoccupied. As such, it is in the best interest of your business and your cash flow to keep all of your units full. When you hire a professional property management company, you can have the vacancies shown to interested tenants so that you get paying renters in there as quickly as possible.
Your property manager can vet interested renters and make sure that they pass the specified criteria for occupancy. The manager can also collect on rent every month so that you get all of the income due to you. Without a manager on the property, renters may neglect paying their rent on time. A manager can make sure tenants pay on time and pay the full amount of what they owe each month.
Property managers are also vital when it comes to getting the needed repairs done on your units. Renters can notify the manager when something needs to be fixed in the unit. The manager in turn can hire a contractor or send over a maintenance professional to make the repairs.
This service allows you to keep your properties up to code and your renters happy. When renters are content, they are more likely to renew their leases. Renewed leases mean that you maintain a steady stream of income from your properties.
Being a landlord can be a lucrative venture as long as you can keep your units filled with paying renters. You can have vacancies shown and filled, rental amounts collected on time, and repairs carried out as necessary by hiring a professional management company to act on your behalf.