Getting into rental property ownership can seem daunting. Not only do you have a lot of assets invested into something, but you have to make sure that it doesn't lose value over time.
This is where a property management company comes in. They can protect your valuable assets so that you feel safe and secure.
So, how exactly do property management companies keep your investment property safe? Read on to learn more.
Screen Tenants
With a property management company, you never have to worry about sketchy tenants. They will do a thorough tenant screening so you don't end up with tenants that have sordid histories.
Some of the common elements of tenant screening include a credit check, a criminal background check, and a search for previous eviction records. If any of these red flags pop up, the applicant isn't considered a suitable candidate.
A tenant screening indicates more than if someone can pay their rent. Eviction for property damage, for instance, shows a high likelihood that they will not take care of your investment.
Coordinate Evictions
Evicting a tenant can be tough for both the property owner and the tenant. You also have to worry about the tenant protection laws in your area.
For instance, in Oregon, month-to-month tenants need notification at least 10 days before their eviction date. If you don't follow the laws, you may open yourself up to legal action.
Property Maintenance
General property maintenance for your portfolio can be a lot of work. From landscaping to inspecting the building for wear and tear, you may find that it takes too much of your time to do it yourself.
Your property management company can handle all maintenance. In addition, they will also liaise between tenants and maintenance contractors to facilitate in-unit repairs.
If your tenant has an emergency, such as a water heater outage, you will not have to be the one to handle it. Your property management company can take all of the necessary steps to fix it, while you sit back and relax.
Property Protection
Security is paramount if your property is in a neighborhood that isn't the safest. Luckily, a property management company can take care of all of your security needs.
They can work with a physical security company to have people on-site as often as you need them. Or, a security system with cameras and footage may suffice.
Not only will this help you feel safer in regards to your overall property protection, but you will also have security photos or videos if you need them for legal action later on. Having too much documentation is better than having none.
Keep Your Investment Property Safe
You shouldn't leave the success of your investment property up to chance. A property management company in Gresham, OR can work with you to ensure your investment is well-protected.
Kerr Properties can be the perfect partner. Our full-scale property management company can handle all of your security needs.
Ready to get started? Contact us today with any questions or concerns you may have.
