Another Benefit To Hiring A Professional Property Manager
Working with vendors can be challenging. An understanding of their work is very helpful so one understands the scope of work necessary, and communicates this to the vendor. A property manager will have existing relationships with vendors they use repeatedly, and trust. Work gets done the right way, the first time. This saves cost and most importantly, time.
Why is time so important? Getting the property leased sooner is more profitable. In this example, the owner was working on the property off and on for months. By hiring PMI Service Group we were able to get this property leased in less than two weeks!
Imagine the revenue lost due to months of time passing. Vacancy is the #1 issue for landlords. We need properties occupied to generate revenue. If they are vacant not only do they not produce cash flow, they can cost the owner a lot of money if they have a mortgage. Mortgage principal, mortgage interest, property taxes, insurance and utility costs must be carried for each month the property sits vacant. Several months of vacancy easily add up to over $10,000 cost to the owner (2025 costs).
We do this full time and even on weekends. Property management is a 24 hour deal. We get properties occupied quickly and producing revenue.
A professional property manager will:
- Get the property ready much faster
- Get the property rented much faster
- Save on costs for maintenance and repair over time
- Handle stressful situations for you
- Manage 3rd party vendors for you
- Find good tenants using professional-level screening tools
- Manage the tenants long-term
- Deal with all the maintenance and headaches
- Communicate all important situations
- Evaluate the financial performance of a rental property over time
- Educate an owner who wants to increase their portfolio
- Expose an investor to new investment opportunities
These are just some of the things a professional manager can do.
When was the last time you reviewed the financial performance of your property? We'd love to sit down and go over your numbers with you and perhaps help you reach your financial goals sooner.
If you're looking for a better property manager, let's talk! Owning real estate as a rental should be a positive experience, not generate stress. Call us here at PMI Service Group - 630-912-8742 - serving Dupage, Will, Kane and Kendall county
