It’s easy to see why individuals would want to hire property management companies. They’ll have a lot more free time on their hands. They won’t have to deal with common problems landlords face on a regular basis. But don’t you think it’s about time middlemen were taken out of the equation?
The reason it’s possible is simply because of the software those who own real estate have access to today. They can become their own little company and eventually blossom into a big one. If you’re still not convinced we’ll look at the help property management companies offer and why it’s maybe a waste of money.
Screening Potential Tenants
You don’t want to let the wrong kind of people rent your properties. Property management companies have learned how to screen potential clients, whereas it’s an area where you’ll probably fall short of the mark.
Luckily everyone has machine learning to rely on now. Not only will it attempt to eliminate human errors, but it will get more accurate with time. You should be able to enter a few details and let the software choose suitable tenants.
Making Sure Your Rent Is Paid
Hopefully, this will be the easy part because you’ve already determined whether or not a tenant is a good fit. You’ll still want to know you’re getting paid every month and it’s great if you don’t need to waste much time on it.
Software is always going to come in handy because it won’t let you forget outstanding payments. It can also send out gentle reminders to your tenants in case a couple of them only need a slight push before they hand over their money.
Maintenance and Repairs
It’s hard when you’re getting lots of calls from tenants complaining about problems. When they’re complaining to another company you won’t have to deal with their grievances, but you will still be charged for them.
SAP real estate software puts a large emphasis on maintenance and repairs due to its importance. If you have everything on the computer it will greatly reduce your stress levels and nothing will be forgotten about.
Advertising Your Properties
This is perhaps the one area where property management companies provide zero value today. They definitely did in the past when you weren’t capable of doing any marketing and potential tenants didn’t have many places to go.
Now there is a tremendous amount of websites and apps where you’ll be able to list your properties, even if you want to make more money testing out sites like Airbnb. It’s never been easier to showcase real estate to the world.
Decreasing Your Turnover
If you take care of your tenants by handing repairs quickly and doing other things they’ll appreciate it will decrease your turnover. Foreclosures are a reality for anyone with a mortgage who can’t keep a home occupied.
When tenants are dealing with a landlord instead of a company it adds a nice personal touch too. It could help to keep people from moving home unless it comes down to circumstances outside of their control.
It’s Time to Revolutionize Real Estate
Obviously, nobody can deny property management companies once provided an excellent service. They still do, depending on who you are, but the software available today will help people with rental properties take over the duties and earn more money. It could even help build more small businesses.