Landlords who think they are saving money by managing their own rental homes might actually be spending more than they need to. Management fees are not terribly expensive, especially when you consider the services you get in exchange for those fees. There are a number of good reasons to hire a professional property manager for your investment home. In Phoenix, AZ there are four especially great reasons.
When you work with a professional property management company, you have the benefit of deducting the management fee on your taxes every year. There are a number of tax advantages associated with owing rental property, and the management fee you pay is only the first deduction you can take. With this benefit, property management is already affordable.
You’ll save money on maintenance when you work with a professional property manager. The volume of work we give to vendors means we enjoy a substantial discount every time they are called out to examine a leak or fix an electrical problem or service the air conditioning. Good property managers will pass those savings onto you, which means you pay a significantly reduced rate.
Rental Market Knowledge
The amount of experience and expertise you get with a property manager is invaluable. We know the local, state and federal laws and we understand how to market and price a property. Our resources allow us to properly prepare your property, efficiently collect rent and even evict nonpaying residents when necessary.
One of the best reasons to hire a property manager is that you get outstanding tenant screening. Property managers will follow fair housing guidelines while thoroughly screening applicants for your rental home. We will run credit checks, analyze background information, initiate criminal checks and verify employment and income. We also talk to former landlords to find out what kind of tenant you’re really getting.
These are only four of the best reasons to hire a professional property manager. There are many more good reasons to get help. Contact PRS Property Management if you’d like more information.