8 Reasons to Hire a San Antonio Property Manager
San Antonio is a great market for property owners interested in using their properties to earn extra income. Whether you’ve rented your property before, or this is your first experience, you may want to consider hiring a San Antonio property manager to help with the process. By hiring a professional property manager, you can add great value to your rental property investments, which is why so many experienced real estate investors agree that working with a good San Antonio property management company is the best thing.
There are lots of reasons that owners choose to list their properties with firms like ours. Here are some of the most important benefits that landlords who work with property management companies have:
1. Screened and Approved Tenants
For many landlords, finding the right tenants is a constant worry. Tenant screening can be a complex process, and if you don’t have sufficient experience in the real estate industry, you might end up choosing a bad tenant. The main problem with bad tenants is that it can be quite difficult to make them leave your property. Good property management companies have a reliable and verified screening process that helps them select tenants who will:
- Rent long-term
- Pay rent on time
- Minimize the wear and tear of the property
- Cause fewer problems
Choosing a San Antonio property manager that has been in business for several years ensures that you’re getting a team that has seen thousands of tenant applications. This will help them dig into facts about the potential tenants quicker and identify red flags. If you allow a management company to handle the tenant screening, you are also avoiding rental scams that are directed at property owners, of which there are many.
2. Fewer Legal Issues
Experienced landlords know full-well that a single bad tenant can cause a great deal of financial and legal headache. A high-quality property management company is armed with a lot of knowledge and they can protect you from potential lawsuits and vulnerabilities. Each state will have their own laws that can affect a landlord, and it can be very difficult to keep up with all of them. Additionally, you also have the federal laws that will cover the following aspects:
- Screening tenants
- Property conditions and safety
- Tenant evictions
- Unit inspections
- Signing and terminating leases
- Collecting and handling rent and security deposits
The cost of dealing with a lawsuit or legal issue far outweighs the fees that most San Antonio property managers charge, so the chance to avoid a legal headache is worth the investment in the long-run.
3. Shorter Periods of Vacancy
One of the biggest benefits of hiring an experienced San Antonio property manager is their ability to help you list your property and find a renter quicker and with less vacancy time. A professional team like ours can help:
- Prepare the properties for rent – A property management company will know exactly what cosmetic improvements must be done to the units in order to maximise your revenue.
- Determine the optimal rent rate – Setting the rent too high and it might take too long to find tenants, too low and you might be losing money every month. It is crucial to determine the right price and doing it requires knowledge of the local real estate market, data on similar units, and access to professional rental rate tools.
Marketing your property effectively – A skilled San Antonio property manager will have written numerous ads throughout their career and know what to say and where to advertise to get large numbers of qualified tenant candidates quickly. Because they handle many properties, they can probably negotiate cheaper rates for the ads both online and offline. Furthermore, they are familiar with sales and know how to close when they field calls from prospects and take them on showings and work with home rental companies and agencies.
4. Longer-Term Tenants
Everyone knows that if your property is vacant, you’re not making any money from it. However, finding long-term tenants is even more advantageous than just filling the property with the first renters who come along. If tenants don’t rent your units for long periods of time, you will have to deal with a series of issues like lost rent, having to clean the property, change the locks, repaint walls, replace carpets, make small repairs, go through the tenant screening process and marketing campaigns again. These things take time and can be quite expensive, but can be avoided by keeping your tenants happy.
A good San Antonio property manager will have a tenant retention policy that is time-tested. These programs are essential and require a systematic and consistent approach, which is where a high-quality property management company will shine. A happy tenant is more likely to rent long-term than one who is not happy with the property or with the landlord.
5. No Stress Rent Collection
For the most part, people dislike confrontation. However, handling the collection of rent and late fees is an extremely important aspect of property management. To ensure consistent and reliable cash flow, rent must be collected on time every month, and it’s important that tenants understand that.
By hiring a professional property manager, the landlord puts a buffer between themselves and tenants, allowing them to be the bad cop who has to listen to tenants’ excuses, collect rent, and handle evictions if necessary. Many landlords who handle their property management themselves may be reluctant to draw a hard line with tenants, and may let their renters walk all over them. It should be made clear how important each clause in the lease is and if breach it there can be consequences.
The eviction process is another important aspect that a San Antonio property manager will handle. There are strict laws that regulate this process and doing it the wrong way can be a big mistake. A skilled San Antonio property management professional knows the law and aims at making the best out of bad situations. Not having to handle a potential eviction yourself is a very compelling reason to hire a property manager.
6. Lower Maintenance and Repair Costs
Tenants are always happier if you help maintain the property they’re renting, which also helps you better preserve the value of your assets. Hiring a property manager grants you access to professional maintenance and a network of licensed, insured, and bonded contractors. These contractors are trustworthy and have been vetted for quality work and good pricing. This can save you a lot of money compared to hiring someone from the yellow pages.
Additionally, a property management company will also be able to get discounts on account of their great volume of managed properties.
7. Increase Your Property’s Value
By identifying and repairing any maintenance issues early on, you avoid larger and more expensive problems. An experienced property manager will tell you that the key to maintaining and increasing the value of your property is preventive maintenance. This requires regular maintenance checks and inspections, a written maintenance schedule, and detailed documentation. An agency may also offer you valuable feedback and suggestions on upgrades and modifications that the tenants prefer.
8. Leisure and Relaxation
Hiring a property manager has other benefits that go beyond the logistical perks. Property owners who hiring a team like our professionals at Stonepoint Properties have fewer things to worry about, and they generally experience:
- Less stress – By hiring a specialist, you won’t have to deal with late-night emergencies, evictions, chasing down rent, damages, paperwork, having to find contractors, and other tedious and time-consuming tasks.
- More freedom – If you hire a property manager, you can travel anywhere you want without having to worry about your tenants and about the regular inspections. You can live wherever you want and you can invest in other properties.
- More free time – For a property investor, time is money, and your time would be better spent doing other things than micromanaging a property. If you focus on asset management, then you are working on growing your business, if you manage the properties yourself, then you work in it. Not to mention that you will also have more time to spend with your family and friends.
If all of these perks and benefits seem like a good idea to you, contact our team today and we’ll help walk you through the process of listing your property with us. Give the experts at Stonepoint Properties a call and let our team handle all the heavy lifting for you!