Several of the world's wealthiest people made their fortunes in real estate investing, but being a landlord is by no means a shortcut to financial freedom. A lot of strategizing, planning, and hard work goes into owning rental properties.
For busy landlords, these numerous tasks can quickly become burdensome and stressful. Hiring a property management company is the best way to alleviate these issues, but it also has several other benefits.
Read on to explore some of the reasons you should sign up for full-service property management.
A Property Manager Helps You Stay Compliant
Landlords in North Carolina must comply with several laws when screening tenants and managing their properties. These include:
- The Fair Housing Act
- The North Carolina Fair Housing Act
- The North Carolina Security Deposit Act
- The North Carolina Residential Rental Agreements Act
An experienced property manager helps ensure you stay compliant with these regulations throughout your journey as a landlord. They can assist you with compliant tenant screening, help you uphold your maintenance obligations, and assist you with unpleasant evictions.
Property Management Services Save You Money
Full-service property management includes a range of services that can help you earn more from your rental property while maximizing your budget. These include:
Property Inspections
Routine property inspections help you stay compliant with accepted standards of habitability. They can also help you detect any lease infringements by your tenants so you can act quickly on them before experiencing financial loss.
Maintenance Coordination
Property managers help preserve the value and appeal of your property by carrying out preventive maintenance according to a set schedule. This helps avoid breakdowns due to excessive wear and tear and can prevent small problems from escalating into more expensive ones.
Rental Collections
A property management company uses online tenant portals to communicate with tenants and facilitate convenient rental payments. They keep accurate records of all your transactions, so you can maximize any valid deductibles when tax time rolls around, too.
Avoid Costly Vacancies With Property Management Services
North Carolina currently has a high rental vacancy rate that's a full percentage above the national average. When you hire a property management team, they can help you avoid becoming part of this statistic.
Property managers ensure prompt attention to maintenance issues, clear-cut communications, and accurate record-keeping. These services ensure your tenants remain content and make lease renewals more likely.
Accurate rental analyses help you price your property so it's appealing to renters. Expert marketing services help you attract tenants from your desired target market.
These tactics mean your properties don't stay vacant for long if you do lose a tenant.
Explore Your Full-Service Property Management Options
Working with a property management company saves you time and money, ensures compliance with local laws, and helps you avoid costly vacancies.
Flagship Realty Group offers full-service property management to help Greenville landlords alleviate the stress associated with running their investment properties themselves. We have been involved with North Carolina real estate since 2007 and are committed to delivering best-in-class service to all our clients.
Sign up for peace of mind today.
