If you purchase residential real estate as an investment and want to rent it out, you will need to decide whether you plan to take on all of the responsibilities of a landlord or want to hire a property management company to manage the property on your behalf. When people learn about all of the responsibilities that come with being a landlord for one or more residential investment properties, hiring a property management company often becomes very appealing. A good property management company can make your life much easier, and you will be able to reap the benefits of owning investment property without all of the work. Some of the services that a property management company will provide include the following.

Marketing the Property

When you own an investment residential property, each month that it sits empty is money out of your pocket. Thus, it is important to keep your property occupied year-round, year after year. A reputable property management company will have a proven plan for marketing a property, setting a fair rent, and finding tenants. This applies to finding your first tenants after purchasing the home and also lining up tenants to move in after a lease expires. 

Screening Tenants

One of the keys to owning an investment residential property is finding the right tenants to live in it. Landlords are seeking responsible tenants who can comfortably pay the rent on time each month. A property management company that has been in business for years will thoroughly screen potential tenants to ensure that they are the right people for your home. You can also count on a property management company to understand and follow all rental laws to ensure that there are no issues with the tenant screening process.

Performing Maintenance and Repairs

Perhaps the biggest responsibilities that a landlord has is keeping a rental property properly maintained and making repairs in a timely manner. Many property investors are very busy people who do not have the time to manage the maintenance of a rental property or take care of repairs that may be needed in the middle of the night or on weekends. If you sign a contract with a property management company, you will not have to worry about maintenance and repairs. Your property management company will inspect the home regularly so maintenance can be scheduled accordingly. They will also have someone available around the clock to assist your tenants if an unexpected repair is needed.