Reasons to hire a Lake Oswego property manager
Are you thinking about hiring a Lake Oswego property manager to professionally manage your single family or multifamily rental property? If so, you’ve come to the right place!
A property manager is a smart investment for your business because they will save you the time, money and hassle of managing your rental property yourself so that you can enjoy the passive income that comes from owning rental properties in Lake Oswego and the surrounding area.
If you’re on the fence about hiring a property manager in Lake Oswego, here are more reasons why you should hire a property manager and trust them to manager your rental properties.
Why Hiring A Lake Oswego Property Manager Is A Smart Choice
Managing a rental property can be a full-time job. From screening tenants to collecting rent, there are many tasks that need to be done on a regular basis to keep your property running smoothly. For many landlords, these tasks are simply too time-consuming, which is why they choose to hire a property manager. A property manager can take care of all the day-to-day tasks that come with managing a rental property, freeing up your time to focus on other things.
Another reason why you might need a property manager is that you live far away from your rental property. If you live in another state or country, it can be difficult to manage your property from a distance. A property manager can act as your eyes and ears on the ground, making sure that everything is running smoothly and handling any issues that arise.
Benefits of hiring a property manager
There are many benefits to hiring a property manager. Here are just a few of the most important ones:
Property management services offered
One of the main benefits of hiring a property manager is that they can offer a wide range of services to help you manage your rental property. These services can include everything from marketing your property and screening tenants to collecting rent and handling maintenance requests. By taking care of all these tasks, a property manager can make your life as a landlord much easier.
Screening potential tenants
One of the most important tasks of a property manager is to screen potential tenants. This involves checking their credit score, employment history, and rental history to make sure that they are reliable and trustworthy. A property manager can also conduct background checks and verify references to ensure that you are renting to the right person.
Dealing with maintenance and repairs
Another important task of a property manager is to deal with maintenance and repairs. This can include everything from fixing leaky faucets to replacing broken appliances. A property manager can also handle emergency repairs, ensuring that your tenants are safe and comfortable in their homes.
Rent collection and financial management
Collecting rent can be a stressful and time-consuming task, especially if you have multiple rental properties. A property manager can handle all aspects of rent collection, including late fees and evictions if necessary. They can also handle financial management, keeping track of expenses and providing you with regular reports on your property’s financial performance.
Legal compliance and risk management
Managing a rental property comes with many legal obligations and risks. A property manager can help you stay compliant with local laws and regulations, ensuring that you are not at risk of fines or legal action. They can also help you manage risks associated with your property, such as liability and insurance issues.
Communication with tenants and landlords
Effective communication is key to managing a rental property successfully. A property manager can handle all communication with your tenants, dealing with any issues that arise and keeping them informed about important updates. They can also communicate with you, providing regular updates on your property and addressing any concerns you may have.
Choosing the right property management company
Choosing the right property management company is an important decision. You want to find a company that has experience managing properties similar to yours and that you can trust to handle all aspects of your property management. Here are some tips for choosing the right property management company:
- Ask for referrals from other landlords in your area
- Research potential companies online and read reviews from their past clients
- Make sure the company has experience managing properties similar to yours
- Ask about their fees and what services are included
- Meet with the company in person to get a sense of their communication skills and professionalism
The cost of hiring a property manager
The cost of hiring a property manager can vary depending on the services offered and the location of your property. Generally, property managers charge a percentage of your monthly rent, which can range from 8% to 12%. Some companies may also charge additional fees for services like tenant screening or maintenance requests. While hiring a property manager does come with a cost, many landlords find that it is well worth the investment in terms of time and stress saved.
Hiring a Lake Oswego property manager is one of the best investments that you can make in yourself and your business!
To learn more about the property management services we can offer you, contact us today by calling (503) 791-4610 or click here to connect with us online.