Being a landlord can be daunting and exciting at the same time. Investing in real estate can be profitable and it can lead to long term residual income. However, being a landlord can be hard and it can be confusing at times. One way to make your life as a landlord easier, is through the use of a property management firm. Here are a few ways they can make managing your property worry free.

Tenant Screening

One of the biggest concerns for many landlords is finding the right tenants. Most property management companies have a firm process in place for the application and approval steps. This screening process usually includes a criminal background check as well as a credit check to check for evictions from other landlords. This can be a painstaking and expensive process when handled by an individual, but it can often be handled within 24 hours when done through an established process and company.

*Screening your applicants does not nullify the possibility of getting a bad tenant but it does certainly reduce the risk.

Maintenance


Another advantage of utilizing a property management company is they handle all the maintenance and repairs for your investment property. For example, if a tenant calls and says they have a leak in the bathroom, your property management company will handle it. You don’t have to worry about trying to find an emergency contractor or an after-hours service. You can simply stay in bed and rest assured that your property is safe and being taken care of.

Consistency

Having a property management firm take care of your investment property ensures that all necessary processes are taken care of in a consistent and timely manner. There are several circumstances that will make it difficult to do everything that needs to be done such as your own employment, living in a different city, and just life in general.

Being consistent helps you as a landlord remain professional, which your tenants will appreciate. They will be glad to know they can call with a question or concern, knowing that someone will not only answer the phone, but will also provide them with a solution to their problem. The property management company will also be well versed in all the legalities of the landlord tenant laws, helping you avoid costly lawsuits by ensuring all laws are observed by both parties.

Managing a long-term investment property by oneself can be done, however, it’s often a stressful and tedious job. And while hiring a property management company can cut into your monthly bottom line, it allows you to collect a paycheck while doing minimal work. It’s definitely something to consider and look into. For more information, contact Better Choice Homes, a property management company in Arizona.