Owning a rental home can provide an excellent source of income and prove to be a worthwhile investment. However, it also requires a great deal of work to maximize the profit and potential behind the home. Hiring an experienced and trusted Fort Collins property management company can reduce your stress and workload, leaving you to enjoy the benefits of your investment.
What Is a Property Manager?
A property manager is an individual or company hired to oversee the management and daily operation of a real estate property owned by another. Property management services can be hired for residential, commercial, or even industrial properties. A residential property manager will be responsible for properties including apartments, condominiums, multi-family units, and detached homes.
What Does a Property Manager Do?
An established and trustworthy property management company is hired to take on the responsibilities associated with owning a rental property, reducing the stress and burden on you as the property owner. From finding tenants to property maintenance, a property manager is responsible for many important tasks.
Marketing Your Property
Your property manager will work diligently to market and promote your rental home in order to minimize vacancy periods. From online listings to showing the home and setting the right price, property managers take care of the responsibilities required to find the right tenants.
Property management companies have established systems in place to screen potential tenants. They will verify employment, income, and credit history in order to select tenants with a good history of paying their rent on time. They will also run criminal background checks and review previous rental history to find dependable tenants with a reduced risk of creating problems.
Handling Leases and Related Responsibilities
After processing tenant applications, your property manager will take care of all the administrative details involved in securing a lease for your property. They will produce the lease agreement, arrange lease signings, collect security deposits, and manage lease renewals.
Collecting and distributing monthly rent will also become the responsibility of your property manager. Collecting payment can be one of the most difficult and uncomfortable tasks, but property managers have extensive experience working with difficult tenants as well as experience in handling situations where tenants are unable to pay their rent. They have established systems to maintain cash flow, manage budgets, and enforce late fees. Your property manager will also take care of distributing funds to pay for utilities and deposit your portion.
Enforce Lease Conditions
Property management companies have a detailed understanding of the terms and conditions outlined in the rental agreement. They will handle the task of ensuring that tenants abide by these conditions in order to maintain your property. They also have experience in enforcing consequences and actions when the terms of the lease are not followed or processing evictions when absolutely necessary.
Maintain the Property
Staying on top of maintenance for a rental property requires a lot of time and effort, but by hiring a property manager, you can rest assured that your property is well taken care of without having to take care of all the details. From scheduling annual maintenance services to scheduling seasonal services, your property manager will ensure that your home is maintained to the highest standards.
Handling Emergency Repairs
Whether a furnace breaks down in the middle of winter or a window is broken by a baseball, property managers are available at any time to address emergency issues whenever they come up. Trusting your property management company saves you from phone calls in the middle of the night, coordinating services between tenants and repair companies, and investigating the cause of the problem.
Property Management in Fort Collins
If you are wondering what a property manager does or you’re tired of handling your rental property on your own or simply don’t have the time to keep up with your multiple rental homes in Fort Collins, contact our team at All Property Services.
We offer property management in Northern Colorado that is experienced, reliable, proactive and ready to handle the work of managing your rental property. We work hard for the homeowners and provide great service for their tenants so that they can benefit from the rental income. Connect with us today at (970) 224-4446 or visit us online to discover more about our property management services in the Fort Collins area!