Property Management Services do so much more than take care of the lawn and maintenance calls. Employing the services of a property management company means letting go of the day-to-day tasks of owning rental property but some real estate investors find they’d rather take care of such issues on Take advantage of property management companiestheir own. For new real estate investors,

it may actually be a good idea to manage their own properties to provide insight on what is actually being done. Older homes with little remodeling will typically have more issues as the age of the components used to build the home as well as appliances may very well be near the end of their physical life. In addition, older properties may have coding issues that need to be replaced rather than repaired, and unless the property owner is a licensed electrician, that’s not something to tackle.

Yet for real estate investors who plan on owning several properties in the future, a property manager is almost a requirement. Property managers will make sure tenants move out in a timely manner when the lease expires. Property managers prepare the unit for showing and market the home for new tenants. Property managers analyze local demographics and rental rates to optimize your rental income. Credit and employment checks on potential tenants are handled by a property manager.

Property manager’s fees range depending upon the number of services provided but you can expect to pay anywhere from 10-15 percent of gross monthly rent to handle management chores. This amount is an expense and is considered a legitimate income tax deduction so the impact is actually lower than the 10 percent amount. Your job is to decide whether or not to invest in the next project, leave the daily tasks to the pros.