It’s a simple decision to hire a property manager if you own rental property far from your own home. However, there are eight reasons why you should use a property manager even when you live within driving distance of your properties.

1. Help Finding Tenants

A property management company will know the best ways to market your properties. Putting up a For Rent sign isn’t enough to get your property rented quickly. Most people looking for a rental property rely on online sites. A good property manager knows how to reach the potential tenants most likely to qualify to rent your property. They can also help you set a competitive rental rate.

2. Tenant Screening

Property managers have all the tools needed to screen potential tenants, such as checking credit reports and references and verifying employment. Novice landlords may be swayed by a potential tenant’s hard-luck story as to why they had to move out of their last home and are now living in their car. Bad things happen to tenants, but many people will make up a sob story to get a landlord to let them move in quickly without checking out their story. They won’t try this with a professional property manager.

3. Assistance in Coordinating Maintenance

You don’t want to field calls from tenants who have a clogged toilet or another maintenance issue unless you want to make being a landlord your full-time job. Property managers maintain a list of reliable electricians and plumbers who can get over to the tenant’s home quickly. They can also coordinate with the tenants when to expect a service call.

4. Handling Late Payments

Property managers will contact tenants who fail to make their rent payments on time. They will be the bad guy for you and enforce the late fee. If the tenant does not pay, they will initiate the eviction procedure, following all local laws. They will also try to get you money for any damage to the property and court costs. Failing to send a legal eviction notice may let the courts extend the tenant’s stay.

5. Retain Good Tenants

Tenants who receive rapid responses to problems. Happy tenants who pay on time will probably renew their lease if they feel the property management company cares about their welfare.

6. Routine Inspections

Property managers can schedule routine inspections of your properties. They will look for any minor issues that tenants don’t believe are important but could end up causing major problems that are more expensive to repair.

7. Handling Security Deposits

Property managers hold security deposits in an escrow account. They will document any damage while a tenant is moving out to make any deductions because of damage. Property managers also return the deposits on time.

8. Less Stress for You

Many individuals who own rental properties consider them an investment. There are plenty of ways to invest your money, but few investments require personal attention from someone. Let a property manager handle the attention tenants and properties need so you don’t have to.