If a homeowner is renting out one, or more, of their homes hiring a property management company to manage the properties can provide several benefits, and is financially economical for the homeowner. The company is able to work with the homeowner to provide the specific type of management they are seeking, whether it be observations of the property, or simply handling the rental amounts due every month.
Some of the services offered when hiring a property management Fort Collins CO company is advertising and screening of the potential tenants, handling of the leases, and collection of rent. Another service that is always associated with property management services is repair work and maintenance.
Some benefits of hiring property management Fort Collins CO company, is in addition to providing the general property management services these companies also provide monthly cash flow statements, which helps the owner stay well informed of their units income ratio. One of the most attractive benefits is many company’s also offer a 24 hour emergency service to tenants. This is an attractive feature to tenants, therefore making it easier to keep a homeowner’s unit occupied.
Some might wonder what the costs are to hire a property management company. Some might be surprised to find out that the prices are extremely reasonable. In a normal scenario the price a property management company charges is a percent of the monthly rental price. The percentage charged is usually within the range of 3% to 10%. To do the math: if a homeowner is charging $1,000/month for one of their homes, and the property management company charges 5%, the homeowner would pay a monthly fee of $50 for their services! That is less than $2 per day!
There are so many benefits associated with using a property management company to handle all of the landlord obligations. Homeowners are able take the stressful part of renting their homes out of the equation and enjoy the luxuries of being a landlord! The costs are reasonable and the tenants are able to enjoy their rental experiences. This all adds up to longer leases and occupancy, which is a win-win for the homeowner!
