The primary choice homeowners or investors make when they’re ready to get tenants into their Westchester, NY rental property is whether or not to hire a property management company.
A property manager will cost a small percentage of your total rental income each month, which is the reason some people hesitate when considering this option. In reality, the services that a top quality property manager delivers can be worth much more to your bottom line and your sanity.
Renting out a property takes a lot of effort and large chunk of your time, which are major downsides to going DIY. Westchester’s best property management firms will alleviate the headaches and pitfalls of renting, having the potential to make life much less stressful and more lucrative!
What a Property Manager Does, and the Real Estate Connection
One of the primary reasons to hire a property management company is they create a buffer between you and your tenant. If any problems arise with late rent payment or property damage, the property manager handles it, taking the specter of any uncomfortable conversation or confrontation off your hands. Not to mention, again, the time commitments involved.
Today’s top property managers in Westchester County, NY are fully licensed real estate professionals. Take Sterling Property Solutions: we know the particulars of state and local laws, and can advise you about your landlord rights.
We also know everything there is to know about the local real estate market, including market analysis, price comparisons, and other services usually provided by real estate agents. The fact that we manage properties ranging from individual condos to commercial office buildings adds another layer of expertise and experience – to get the most bang for your buck when you rent out your property.
A sampling of the duties that you can expect from a property manager include:
- Advertising and marketing your property
- Sourcing and screening potential tenants
- Managing your financial accounts
- Completing inspections on a consistent basis
- Organizing and sourcing repairs and maintenance
A good property manager like Sterling Property Solutions will provide as much management of your rental property as you want. We are specialists at understanding and handling details. In addition, we are expertly qualified to prioritize, budget, and perform any duties that are needed for the successful and profitable management of your property.
Working with tenants in your rental property
When you are first mulling over renting out your property, you may not realize at first the hefty amounts of time and effort that are needed. A property management company that is staffed by real estate agents can help you get quality tenants to help you avoid periods of vacancy and the resulting income loss. They will utilize up to date and hyper-local marketing methods to ensure your rental is highly visible to potential tenants in searches, online, and other necessary channels.
As you can see, there are many advantages in hiring a property manager who is also an experienced, local real estate agent with unparalleled knowledge of your area. With a crucial understanding of the local real estate market, your fully licensed real estate & property manager will be able to inform potential tenants of all of the relevant information they need regarding the property, and the surrounding neighborhood. More importantly, choosing a firm with comprehensive real estate and property management knowledge will help you maximize the revenues your rental property brings you. And isn’t that the bottom line?