The average rate for a one-bedroom apartment in Oklahoma is $613 a month. Setting the rental rates is one vital responsibility you have as a landlord. However, you'll have many other duties.
These duties can overwhelm you, but there's a solution. You can hire a full-service property management firm for help. These firms can help you set your rental prices and much more.
Hiring a property manager offers perks, but do you understand the top ones? Continue reading to learn why you should consider hiring a property manager for your Tulsa, OK, rental properties.
Full-Service Property Management Handles Tenant Duties
Running a rental property business requires many tenant duties. The first is finding great tenants. Property managers use effective procedures that result in finding the best ones.
Property management duties also include other tenant duties including:
- Advertising units
- Showing apartments to prospective tenants
- Signing leasing
- Handling security deposit refunds
- Addressing tenant issues
- Collecting rent
Rental property management handles all tenant duties, alleviating these from your to-do list. The property manager even takes calls from the tenants.
The Firm Handles Property Duties
There are different types of property management services. Fortunately, most firms let you pick and choose your services.
You can hire them to handle the tenant duties as listed. You can also hire them to handle other duties, which include:
Property maintenance is one task many busy landlords ignore. However, keeping up with the maintenance is crucial. Great maintenance keeps the units in good shape, helping them hold their value.
It also boosts the desirability of your units, helping you attract better tenants.
Your tenants will call for repairs, and some calls are emergencies. The property management firm will address all these issues in a timely manner.
Property Inspections and Tasks
Another responsibility of a property manager is to handle inspections. They'll inspect units when tenants move out. They'll make a list of the work the unit needs and handle completing the work.
Additionally, property management services include record keeping. The firm will record all the money received from rental revenue. They'll also pay the bills and record all the expenses.
The firm sends you a statement monthly, quarterly, and annually. The statements show how much money they collected and spent. Ultimately, they reveal your business's net income or loss.
It Saves Time and Alleviates Stress
When you think about all your duties as a landlord, you might feel stressed just thinking about them. Landlords have dozens of duties every day. These duties take time to complete and can result in high-stress levels.
Hiring a property manager lets you transfer these duties to someone else. As a result, you'll have more time on your hands. You might also see an improvement in your health, as stress poses many health risks.
Hire a Firm to Reap These Benefits
Hiring a full-service property management firm provides these perks and more. Once you hire a company, you can hand them the duties. They'll take them over and provide professional results.
Ready to learn more about our services? Contact us at PMI Green Country to discover how our services can help you!