There’s no denying that being a landlord is tough, time-consuming, and frustrating at times. Although owning rental property is an excellent way to generate long-term income, it’s also a full-time job unless you hire a property manager. As a landlord, you’re legally responsible for providing a habitable building that meets certain requirements, like being weatherproof and having heat and hot water. Habitability requirements are strictest in states like California, where new laws are being put on the books regularly.
If you fail to maintain a habitable building, your tenants can sue you. For example, if you don’t repair a leaky roof in a reasonable amount of time, that can spell legal trouble. However, you probably have a life outside of being a landlord, and it’s understandable if you struggle to find time for managing your properties.
If you’re frustrated or overloaded, a property manager can solve virtually all of your problems.
- A property manager will act as the landlord
When you hire a property manager, they will take over as many of your landlord duties as you want. If you want them to work full-time, there are companies that will do everything for you, including manage your bills on your behalf.
Since a property manager takes over responsibility for a property, they will become legally responsible for everything you agree to sign over to them. For example, they’ll handle emergency calls from tenants, ensure repairs are completed in a timely manner, and serve eviction notices according to the law. You can hand over anything you don’t wish to manage yourself to a property manager.
- Property managers know the law
One of the greatest benefits of hiring a property manager is that they know landlord tenant law and will ensure they take care of your tenants within the bounds of the law. For example, their lease agreements will be reviewed by attorneys, they’ll collect and return security deposits according to the law, and abide by all Fair Housing Act requirements to avoid discrimination claims. It will be their duty to protect you legally, so they have every reason to become well-versed in landlord tenant law.
Property managers also tend to have attorneys either directly on their team or on retainer. That means they can consult with a legal expert at any time when something comes up. They will do their absolute best to avoid creating a situation that warrants a lawsuit. However, they can’t guarantee you won’t be sued.
Tenants file lawsuits all the time against their landlords, but that doesn’t mean they’ll win. If you have a reputable property management company working for you, and they haven’t broken any laws, you’re likely to win unsubstantiated legal claims filed against you.
- Property managers make vacations easier
If you want to go on vacation to get some downtime, but can’t because you’re too busy handling your rental properties, a property manager can help. Whether you hire someone part-time for just the length of your vacation or you get someone full-time, you’ll have peace of mind while you enjoy your trip.
Not only will a property manager take care of your day-to-day landlord duties, like answering calls, scheduling repairs, and collecting rent, but they can also help you rent vacant units and clean up after a move-out.
Being a landlord is a tough job, and you deserve to get some rest and relaxation. If you’ve been postponing your vacation time because of your responsibilities, don’t hesitate to hire a property manager.
- If you’re short on time, a property manager is the answer
If you’re like most landlords, you probably have a life outside of managing your rental properties. Unfortunately, neither the law nor your tenants care. If an issue needs immediate attention, it’s your legal responsibility to handle it immediately, even if you’re running on no sleep and haven’t caught a break all day.
The best way to get peace of mind when you’re busy is to hire a property manager. They will be the first line of contact for your tenants, which means you’ll never have to answer a call at three in the morning or late at night right when you’re trying to go to sleep.
Property managers are a big help to landlords
Whether you hire someone to simply collect rent and fill vacancies or you go for a full package deal, the peace you’ll get will make you glad you hired a property manager to handle your rentals.
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