Owning investment property can be a great way to accomplish your financial goals, but it takes a lot of work to manage your investment well. That's why successful investors take the time to research and hire a
professional property management company. Here are ten reasons why you should consider hiring a property management company to help manage your investment.
1. Property Managers Provide Tenant Screening
Wouldn’t you want
a tenant that is thoroughly vetted before living in one of your life investments? A professional property management company, will have an established screening process for new tenants. This allows them to assess all risk factors beforehand, helping you choose quality tenants.
Using this process helps ensure that each prospective applicant will treat your property with the care it deserves and fulfill their lease terms leading to higher retention.
Better retention saves you turnover costs and increases your profit. During the screening process, property managers will collect identification and documentation on all applicants such as proof of income from employment, other income revenues, personal references, credit history along with public records, current and previous landlord references and any possible criminal records.
2. Understanding of Property Management Laws
A reputable property management company will be a licensed Oklahoma real estate broker, member of the Oklahoma Real Estate Commission and National Association of Realtors. Ensuring that tenants and owners are educated about all Fair Housing laws, Oklahoma Landlord-Tenant Laws. Some will even have access to a full-time attorney to answer any questions for you and your tenant to help prevent landing in a legal matter.
3. They Help You Get Rid of Maintenance Headaches
A property management company that employs a full-time staff, provides an
online maintenance portal system
and a long list of approved vendors, to assist in the event of maintenance needs. All of this alleviating stress and giving back precious time to you.
At McGraw,
we review guidelines with the tenant multiple times
throughout the move-in process to ensure a seamless leasing experience. As members of one of the largest real estate boards in the state, we constantly provide the latest lease agreements thoroughly covering the responsibilities with your tenants before move-in.
4. Dedicated Marketing Services for Your Property
Many property owners assume that simply listing their property on Zillow is sufficient marketing, which leads to more time on the market and decreasing overall profits. A professional property management company partners not only with Zillow, but with several syndicated leasing and social media sites that will give your property the maximum online exposure. They will also be able to have spotlight marketing methods and can create custom advertising plans for each property.
5. Access to Professional Software and Online Portals
Are you chasing down a tenant for that rent collection? Once a tenant is chosen for your property, a professional property management company using an online portal can generate their own online portal to quickly and safely collect those deposits. The company's website can also provide tenants with the ease of quickly paying rent online each month directly from their bank accounts.
6. Routine Inspections
A property management company will also routinely check your properties and provide a thorough move-in, move-out inspection process. Allowing you to avoid messy arguments between your tenant by staying ahead of any issues! It’s the landlord’s responsibility to enforce their lease, so let your property manager spend the time that you don’t have to follow up with due diligence and avoid conflict.
7. Handling Evictions
If you have to walk through the eviction process, a property management company (with an attorney at their/youth disposal), will guide you through the legalities and red tape within Oklahoma property laws.
8. Saves You Time
We all know the popular phrase “time is money.” Your time should be spent investing in other properties, with family or freeing up your schedule to do the things that you enjoy. By hiring a property management company to spend the time marketing, handling calls, scheduling maintenance you will be keeping your cost to a minimum because you save time!
9. Financial Freedom
Property management is a full-time job and it is crucial to routinely monitor your operational cost. Hiring a property management company with a full-service accounting department can help you set accurate market rates and ensure you’re not leaving money on the table with incorrect pricing strategies. At McGraw we also provide owner statements delivered to you on the same day every month along with annual cash flow reporting.
10. Access to a Team of Trusted Professionals
Maybe the most important reason to hire a property management company is that you will have access to a team of trusted professionals who know the industry. You can have peace of mind that your property is going to be managed well, and all of the stress won't rest directly on you!
McGraw Property Management is proud to have the most experienced leasing team and managers in Northeast Oklahoma. We utilize the latest technology to make leasing and managing your rental property a stress-free and hassle-free experience. With our long-standing history, commitment to excellence, ethics and standards, McGraw is one of the leading real estate companies in Northeastern Oklahoma.
Why Should You Hire McGraw Property Management?
For starters? The ten reasons you just saw above!
These are all services that McGraw offers to their property owners
to help them enjoy the benefit of owning investment property. We pride ourselves in delivering the one of the highest quality property management services in the region.
However, we don’t just want you to take our word for it! Just look at what Delaina from Owasso said about experience with McGraw Property Management:
“Leasing my home is a new process for me. I certainly appreciated the fact that McGraw was very selective in choosing the right person or family to lease my home. McGraw made me feel my home was as important to them, as it is me.”
Call us today at
918-388-6133
to schedule a free consultation with one of our leasing agents! You can also
browse our website
to learn more about who we are and what we offer!