Owning rental property can be financially rewarding, it can be a source of a steady income, which also offers numerous tax benefits. We can not deny the responsibilities it comes with, like tenant management, legal and financial process, property maintenance etc.
In today’s generation of everything digital, serving the demands for a hassle-free lifestyle becomes an integral part of many successful businesses. To simplify the intricacies and challenges in the real estate industry there is a good number of tech-enabled solutions have emerged. There are companies like Magicbricks, Nobroker, 99 acres, Multiliving offering solutions to simplify the hassle of finding and managing a home. Property management services gaining prominence because it helps to manage a rental property smoothly, without running around multiple vendors.
It will be a win-win situation for both tenants and homeowners, an expert team and on-demand relationship manager will be there to support and help you with all the chores. When there is an issue, a professional team will be at your aid to identify and fix the issues that may cause damage to your property at the initial stage itself to reduce the management cost drastically. So it’s best to consider property management services which will be a rewarding investment in many ways.
Here are some valid reasons why you should consider a professional property management company. Along with this, we will also share an example of one of the service providers with a wide range of property management services they offered for homeowners. Read on to explore
What is Property Management Services?
It refers to the process of overseeing residential, industrial or commercial real estate assets by a professional property management service provider. Generally, Homeowners or developers connect with the service providers to handle the operations, maintenance and management of their properties.
What are the Services Offered by Property Management Companies?
Wide array of services are offered by these companies which may vary based on the location and the service provider. To understand this better let us consider an example of Propel property management app from Multiliving Private Limited, Designed for Homeowners.
Propel provides a completely hassle-free property management experience with a varied range of property management services for home-owners that include:
- Maintenance & repairs
- Home Inspection
- Utility services
- Finding tenants
- On-site supervision
- Rental agreements
- Documentation/Paperwork
- Tenant Verification
- Insurance
- Furnishing of homes
- Rent collection
- Responding to tenant complaints
Rental property management services are not restricted to analyse and collect rents, it helps with end-to-end requirements starting with finding tenants to repair and maintenance to documentation and a lot more addressed everything under one umbrella in the matter of a few clicks.
While some companies also offer marketing and advertising services, others offer software applications as an all-in-one solution.
Why Should You Need Property Management Services?
From home health checkup to finding a tenant, property management involves a ton of activities. The bigger challenge is when multiple stakeholders are involved, addressing their demands and fixing serious issues requires a holistic approach. Property management service providers play a vital role in bridging this gap and ensuring right things done at the right time in a professional and reliable manner.
Property management service companies not only help with primary objectives like getting good returns on your investment, rental property management, repair and maintenance. Below is the list of benefits offered by property management service companies for homeowners to simplify property management.
- Home inspection and health checkup
- Repair & Maintenance Assistance
- Find the right tenant for your real estate assets and timely rental collection
- Documentation Assistance
- Property Investment Advisory
- Professional Pest control service
- On-Call Relationship Manager Support
- Insights into sale & rental trends in your locality to get the return on investment you deserve.
- Transact in a transparent manner
- Overseeing insurance and asset management
- Hassle-free maintenance of your properties
- Handling vendors along with pricing and purchase management
Property management services can cater to the needs of agents, developers, landlords, and tenants. It will be a good idea to opt for these services, which helps you to maintain your rental property in good condition and maximize your returns on investment.
