There are many benefits to landlords using a property management company. It basically allows them to kick back and enjoy a passive income while the professionals take on all the legal responsibilities and hassles of property management. However, if you’re a renter, there are also major benefits to seeking out properties that are professionally managed. It should be a key factor when you’re home hunting, trumping other eye catchers like more spacious kitchens or storage.
As a renter, you have a lot of rights but dealing with a cranky or out of control landlord can still cause a serious headache. With a professionally managed property, you know that everything is on the up and up. While it might sound appealing to have a landlord (who isn’t part of a management company) on site, it can also make you feel like a teen again with a constant watchful eye over you.
Here’s why property management companies are beneficial to renters as well as landlords.
Keeping things legal
Laws and regulations vary from region to region. If your property is managed professionally, you can rest assured that your legal rights are being upheld. Plus, a property management company is charged with protecting the rights of both you and the landlord. They understand what “normal wear and tear is,” will always provide repairs within the legal timeframe, and hold regular business hours so you can reach them.
If you depend on a landlord instead of a management company, what do you do if your landlord goes on vacation at the same time a pipe bursts? What if you notice your landlord constantly sniffing around the property? It might not be necessarily illegal, but it’s worrisome, frustrating, and you know that a property management company has better things to do. A landlord can think of their property like “their baby” that you’re encroaching upon, while a management company sees this as a pure business transaction.
What you should expect
It’s one thing to have the expectations and responsibilities of a landlord included in the lease agreement or contract. It’s quite another to get them upheld. As a renter, part of the perks you enjoy is not being responsible for routine maintenance. However, unless you have a management company on your side, you can’t be sure of anything.
Take the headache out of renting and make sure you depend on a reputable, organized company. Otherwise, you might get stuck with a nightmare of a landlord.