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You’ve invested in a second property and chances are, you’ve decided to rent it out to make some extra dough. Here are some reasons you should hire a property management service to oversee your residential or commercial real estate.
1. First Things First: Better Tenants
While you can always evict a problematic tenant from your property, it’s an extra hassle and you are much better off never accepting them in the first place. Not only do real estate agencies offer a bigger pool of applicants seeking houses or apartments to rent, but they also know the importance of a thorough screening process in order to narrow the list down to tenants who pay on time and are likely to cause less problems.
2. More Freedom, Less Headaches
Using a property management service allows you to travel wherever you want and go about your day without the constraint of needing to be in your property’s vicinity in case something crops up. Short lets are particularly demanding, and anyone who has ever rented out their property knows the hassle of expecting to be available round the clock in case your tenants can only move in at an awkward time, or find themselves in awkward situations, such as being locked outside in their underwear.
3. Tighter Rent Collection Process
Since property managers serve as an intermediary between owners and tenants, a property owner can keep a professional distance from their tenants and avoid being too lenient on certain issues such as timely payments. Tenants accept that managers are only doing their job, having no other option but to enforce the lease terms should payments be made late.
4. Fewer Legal Problems
Riddle me this: how many troublesome tenants does it take to cause legal and financial hassle? Just one. In the event that an eviction becomes necessary, an experienced property manager is armed with the knowledge of the latest landlord-tenant laws and will know how to handle it in a way that will save time and costs, while staying within the boundaries of the law to ensure you’re not leaving yourself vulnerable to a potential lawsuit.
Frank Salt Real Estate offers an efficient and trustworthy real estate management service for your property in Malta and Gozo
From tracking rent payments and carrying out regular inspections, to dealing with middle-of-the-night emergencies, legal paperwork and repairs, renting out a property can turn out to be a full-time job. And in this rushed life, where time is more precious than ever, relinquishing such responsibilities to a property management service company will free up your limited time so it can be better spent.
If you’re looking to rent property out and are considering taking advantage of the services that a property management company offers. Find out more here.
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