Do I Really Need a Property Management Company?

If you own a second home or rental property in Florida, you may have considered using a property management company. Maintaining a property is no easy task, especially if you’re not living in your home year-round or you’re dealing with tenants. A professional manager can help ease the burden. But is it worth the cost? These are some pros and cons of using a property management company.

What Does a Property Management Company Do?

The main job of a property management company is to oversee real estate on behalf of the property owners. Depending on the type of property you own, this could include ensuring everything is functioning properly, taking care of maintenance and repairs, handling accounting and taxes, and dealing with tenants. 

Benefits of Hiring a Property Management Company

A professional property management company can save you time and money, not to mention a great deal of stress. These are just a few reasons so many people seek out property management in Florida.

Best Rental Rates

One of the biggest mistakes people make when investing in rental properties is setting the rental rates too high or too low. A company that specializes in rental management can assess your property based on current market trends and advise you on how to price your rental property so that it attracts renters and generates you income.

Preserving Property Value

Maintenance is vital for any property, but it can be a huge task. A property management expert can identify problems with your home and take steps to ensure that those issues are taken care of so that your home maintains its condition and value. This is especially helpful if you can’t physically be at your property to handle maintenance and repairs.

Expert Marketing

With so many Florida rental properties vying for tenants, finding renters can be challenging. An experienced property management company will have the tools and knowledge to market your property to the right people at the right time. All property managers in Florida must have real estate broker licenses to operate, so they will also have access to the MLS and a wide range of networks.

Hassle-Free Home Arrivals

Imagine arriving at your vacation home for the season and finding everything spic-and-span and ready to go. Home management services can include everything from general cleaning and maintenance to landscaping, event planning, cleaning and fueling watercraft, and much more. This allows you to simply show up and jump right into the Florida lifestyle.

Happy Tenants

If you're using your property as a short-term rental business, tenants are your most important asset. Keeping them happy is the key to maintaining cash flow. A property management company can communicate directly with tenants to address any issues, collect rental payments and make sure they’re coming in on time, and ensure all laws and regulations are being followed.

Cons of Using a Property Management Company

There really are very few downsides to hiring a property management company. The main concern some people have is the cost. However, most people find that the fees are a small price to pay in relation to the time and energy a property manager can save you.

If budget is a concern, you can manage your property yourself, but you may want to research just how much will be involved for your specific property type and goals. 

Looking for a property management company in Florida? The Real Estate Collection Management offers customized managing solutions for vacation homes and residential and commercial investment properties. Contact us here or call 407-656-7814 for more information.

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