Owning rental property can be a significant investment in your future, but being a landlord isn’t always the passive revenue stream it’s made out to be. Taking care of maintenance and repairs, screening tenants, and marketing the property can take hours of work every month, which is why so many landlords prefer to let a professional handle the details. Below are a few reasons to consider hiring a property manager.

Advantages of Working With a Property Manager

1. Reliable Contractors on Call

If your tenant’s heater goes out in the middle of the night or the roof starts leaking, making the property habitable is the landlord’s responsibility. Property managers have a long list of proven contractors to draw from, and many even have in-house maintenance teams.

2. Effective Marketing Tools

Reducing vacancy rates is key to making your investment profitable, so you’ll want a new tenant to move in as soon as possible. Good managers have extensive experience marketing properties in the area and will know how to get the attention of tenants looking for a home like yours.

3. Setting the Right Price

Choosing a rental price is one of the most important decisions you’ll make as a landlord. List your property too low and you could be cheating yourself out of money—while charging too much might increase vacancies. The most experienced property managers understand your local market and will know how much each unit is worth.

4. Tenant Screening Tools

Carefully screening tenants will reduce turnover, minimize disruptions, and could prevent property damage in the long run. Investigating each applicant can be time-consuming, but property managers have the tools to thoroughly evaluate potential residents as quickly as possible.

For over 35 years, Nova Property Management has taken the stress out of owning rental properties throughout Anchorage, AK. Whether you own a single-family home or an entire apartment building, their experienced property managers will protect your investments and minimize headaches. To learn more about their services and find out how they can help, visit their website now or call (907) 522-1332.