Tackling Common Myths Concerning Property Management Companies

Posted on: 5 June 2015

When you are the owner or landlord of rental properties, you can spend a great deal of time making sure that your tenants get what they need and that you are still available to collect rent, fill vacant units, and screen new applicants. The easiest way to take some of the responsibility off of your own shoulders is to hire a property management company who can help. Even though these companies provide a valuable service to property owners, there are a lot of myths concerning how business with these professionals is handled. Here are a few of the most common myths and the facts that you should know as a property owner.

Myth: Employing a property management company takes control out of your hands.

Fact: This is perhaps the biggest reason that property owners avoid obtaining professional help from property management agencies when they need it. However, this misconception could not be further from the truth. If you choose to hire an agency to help you, you will still be given complete control over all decisions related to your property. The only thing that the property management agency will do is handle the tasks that you ask them to and they will never make decisions on your behalf about how your tenants, property, or money is handled.

Myth: Property management companies will only handle problems during their business hours.

Fact: One of the biggest benefits of having someone handle your property issues is the fact that it frees up your own time and you can enjoy days off and holidays. You will be happy to know that a lot of property management companies offer around-the-clock call center service, so tenants will always be able to get in touch with someone.

Myth: Most property management companies will charge you a large up-front fee for their services.

Fact: Payment and fee agreements between you and the property managers will be worked out in advance in a contract, but this will not always mean that you have to take on a large up-front payment. Some companies collect their fees from a portion of the rent or lease payments collected. Some even bill for their services on a monthly basis. However, you will not likely be charged for everything in the beginning.

If you are a property owner who finds it difficult to handle all of the responsibility that comes with the territory, it is always a good idea to reach out to a professional agency who can help. Talk to a property management company like Reedy and Company, about any concerns you have.