ARUBA – While the allure of investing in a rental property may seem like a rewarding and positive venture, managing tenants and properties can be overwhelming. The best route may be to hire a professional property manager to ease the burden.
“Hiring a property manager is a great idea for people who don’t have the experience or the time to manage a rental property on their own,” said Matthew Smillie, owner of Aruba Villa Vacation Homes, a company that specializes in Aruba villa rentals.
Property management companies deal directly with prospects and tenants. A good property management company will bring their know-how and experience to your investment, and give you the peace of mind that comes with knowing your property is in good hands.
People who have a lot of properties, who do not live near their rental property, who are not interested in hands-on management, or have no time to devote to the property should consider hiring a management company.
The Aruba golf vacation professional has put together a list of reasons why investors should hire a property manager:
The price is right
As the property owner, you could spend time researching comparable rental prices on the Internet to see what other landlords are charging, or you could hand the task to the property manager. They have the time and know-how to conduct a complete analysis of the market and set the property at a price that will attract renters and give you a return on your investment.
“Property managers will find investors the perfect balance between increasing your monthly income and preserving low rents,” said the tropical villas specialist.
A reputable property manager can help you find the perfect tenants. The manager will also handle all the tasks related to your property such as legal issues, contracts, credit reports, tenant screenings, security checks and verifying employment.
Whether it’s a seasonal rental or a monthly contract, collecting payments can be a bit of a challenge for most property owners. However, the property manager already has an effective system in place to collect rent in a timely manner.
Aside from finding tenants for your property, a property manager will work to maintain a good relationship with them. This is great for seasonal properties, as good experiences can lead to more tenants in the future. From handling the maintenance and cleaning of the property to dealing with situations as they arise, a property manager is always on your team.
Protection against liability and lawsuits
Property managers are well aware of the changing market trends and any legislation that may affect landlords and investors. The property manager is well-versed and they can tap into their resources to develop a clear understanding of expectations.
Property management companies document the electricity and water usage on a weekly basis. With efficient oversight, the company can save their clients so much on the usage, it pays for the property management fees.
“Anything can happen while a property is left unoccupied, from split water pipes to timers breaking and causing 24-hour usage,” said Smillie, Aruba vacation rentals pro. “We act as the owner while they are away, we treat the property as if it was our own and we make every effort to save them money by catching problems before they become costly.”
Property management companies handle all monthly services such as pest control, cleaning, and pool and lawn care maintenance. They are also the point of contact for utility and alarm companies.
“Hiring a property manager means ensuring your property is well taken care of and running efficiently around the clock,” said the beach rentals in Aruba provider.
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