From fixing damages to filling vacancies, running a rental property comes with a hefty load of responsibilities. Hiring a property management company eases the burden and stress, especially if you don’t live close to your rental or own multiple units. Here are some of the duties a management company can take care of for you.

Why You Should Work with a Property Management Company

1. Finds & Oversees Tenants 

Management companies have the marketing resources to attract a large pool of candidates and know how to select responsible tenants through background screenings and credit checks. As the main point of contact, they’ll help you maintain positive relationships with residents by addressing emergencies and handling any conflicts that arise.

2. Establishes Fair Rental Rates

There’s no need to guess how much you should charge tenants. Through experience and extensive market research, a rental management company can establish competitive rates that fill vacancies while earning you a healthy return on your investment.

3. Handles Repairs & Maintenance 

Between repairs, inspections, installations, and cleaning, being a property owner requires endless maintenance. The company can handle these essential tasks to keep your unit in the best condition possible. Because they have established relationships with vendors, you won’t have to waste time researching and finding the right contractors to oversee major projects.

4. Collects Rent

Chasing down tenants for rent can be a hassle. Most management companies have reliable systems for collecting rent and tracking payments, ensuring you receive your money on time.

5. Knows the Law

These companies are well-versed in the local, state, and federal regulations for rental properties. They’ll help you avoid lawsuits and legal fees by ensuring your units are compliant and that any potential evictions are managed within the confines of the law.

If you need help with your rental units, Nova Property Management of Anchorage, AK, takes on the duties, from lease agreements to move-in inspections. You can relax knowing they’re maintaining the safety of your buildings while also working to establish trust with your tenants. Call (907) 522-1332 to speak with a representative or get in touch through their website.