So you’ve acquired an investment property; possibly through an inheritance, possibly through a home you just can’t sell, or maybe you’ve bought the home for a nice source of income. For whatever reason you have a new second home, you’re new to the income property world and you’re looking at your options. You may think you can handle showing your property, qualifying a great tenant, collecting late or missed rent payments and handling your tenants’ every question and concern, or you may realize you’ve gotten yourself in too deep. One of your best options for handling your rental property is to hire a property manager. Here are just a few ways a property management company can ease your rental woes:

Showing your place and qualifying your tenants – This is one of the best ways a property management company can help you, is by showing your apartment and qualifying your tenants for you. If you have a job that doesn’t allow for flexibility, showing your place can get to be difficult and even downright frustrating. Not only can a property management company send out licensed and qualified real estate agents to show your Cherry Creek homes for sale, but they can make sure your tenant is qualified to rent your place. Property management companies put candidates through a rigorous pre-qualifying process, which includes a criminal history check, a credit check, rental history as well as income verification. This helps protects your interest, since you can feel more confident that you’ll be paid on-time each month.

Collecting rent and handling maintenance requests – Collecting rent once a month doesn’t sound too difficult, until your tenants are unable to pay. Many landlords really end up liking their tenants and feel very sympathetic if they’re unable to pay their rent on-time. This skews the landlord-tenant relationship, and can put the financial pressure on you. A property management company has leases and processes in place to ensure that you’re either getting your rent on-time, or else the tenant will need to face an eviction. There are less hurt feelings, since the expectations are clearly outlined in the lease, before they’re even handed the keys. Collecting rent can be a pain, but if you have a needy tenant who calls every time a lightbulb goes out, you will find that the management of the property is just as much of a pain. Some tenants are quite agreeable, but you still may be making house calls once or twice a month with your valuable time, when you could leave all of those issues to a property management company.

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