About 10 million people in the US own rental properties. Are you among them? Of these, over 50% choose to hire property managers.
Relying on a property management company can maximize your earning potential. You’ll have peace of mind knowing your investment property in Colorado Springs, CO is taken care of.
Not sure if you need full-service property management? Read on for the signs it’s time to ask for help!
VACANT PROPERTIES
Do you have more than one vacant investment property in Colorado Springs, CO? Even one vacant unit costs you thousands in potential earnings each month.
Hiring a property manager will help you market your vacant listings. Choose a company that leverages digital marketing. Their strategies may include:
- Social media marketing
- Listing optimization
- Search engine optimization
- Content creation
- Paid advertising
- Email marketing
Your property manager can stage the property before hiring a real estate photographer. Stunning images can make the property more attractive to renters.
FRUSTRATING TENANTS
Explore your property management options if you have problematic tenants. These renters may:
- Damage your rental property
- Ignore your house rules
- Pay rent late (or not at all)
- Upset renters
- Sublet
Choose a full-service property management company that offers tenant screening services. They’ll find reliable, trustworthy renters with a strong rental history. You can avoid renters with a criminal background or eviction history.
MAINTENANCE DELAYS
Ignoring maintenance requests could lead to annoyed renters. They may decide to move out or complete the repairs on their own. Some may take legal action.
If you’re struggling to keep up with maintenance, explore your local property management options. About 80% of property managers coordinate maintenance and repairs. They can find local vendors you can trust to take care of your properties.
Keeping up with routine inspections and maintenance can reduce the need for extensive renovations. You can save money and keep the property looking its best. You may have an easier time attracting new tenants if the property is well-maintained.
LEGAL ISSUES
New housing laws can be difficult to navigate. Ignoring these laws can lead to legal trouble or fines. Hire a property manager to remain compliant.
Leverage their expertise to navigate legal situations.
DISTANCE
If you own more than one investment property outside of Colorado Springs, hire a property manager. It can become tiresome to travel to manage these listings.
Choose a company that uses state-of-the-art technology to ensure efficiency. They’ll keep up with applications, maintenance requests, and more.
STRESS
Being a real estate investor can get stressful if you lack experience or the right tools. Outsourcing will save you time and give you peace of mind.
Otherwise, landlord stress can affect your mental and physical health. Rely on an experienced property manager instead. They’ll help you avoid costly mistakes while maximizing your profitability.
HIRE A PROPERTY MANAGEMENT COMPANY TODAY
Managing your investment properties in Colorado Springs, CO can become stressful. Don’t do it all alone. Instead, hire a property management company.
Our team at Pioneer Property Management has redefined how properties are managed. We can elevate your returns using detail-oriented, technical problem-solving principles.
Rely on our proactive approach, streamlined policies, and efficient software. Contact us today to hire your property manager.