You have invested too much time and effort into putting yourself into a position to acqure multiple investment properties to let just anybody handle finding tenants and the collecting the rental income for you. If your rental property is in the Baltimore/Maryland Area then a competent real estate asset management company may be the solution to your investment property needs. Just take a look at all of the many benefits they can provide you with when it comes to managing your investment property.
There is nothing that has the potential to cost more in unit down time and potentially large unexpected repair bills than routine maintenance that is not being done in a timely manner. Real estate asset management companies are experts at establishing and following through on routine maintenance protocols. These can potentially save the property owner a large sum of money by helping to avoid costly repairs.
Real estate asset management companies never sleep. They have managers available 24/7 and usually have in-house maintenance staff. If their own staff cannot handle a certain problem they often work closely with many different types of repair companies to make sure the emergency repairs are done in a timely manner.
Real estate asset management companies know all the legal ins and outs of rental contracts and leasing. Unlike a property owner, these companies deal with rental contracts and the fulfillment of their terms on a daily basis. This makes them well versed in avoiding future pitfalls by using a properly worded rental or lease agreement. They also know how to legally handle matters when a tenant is not meeting rental or lease agreement terms.
They are well versed in local legal codes too. Real estate asset management companies know what businesses can legally operate in certain areas and they are also very familiar with business and residential zoning codes.
These companies know exactly where to advertise your property to make sure it will be seen by interested parties. Once the property has an interested party they are available to answer any and all questions the prospective tenant may have with regards to the property in order to facilitate the rental or leasing process. The most important function of real estate asset management companies may be the facilitation of good relations between property owners and tenants. The importance of this cannot be underestimated. Happy tenants remain renters or lessees well into the future and this in turn ensures a positive revenue stream for the property owner.
So, if you are a busy property owner that has little time or desire to be a hands-on property manager then real estate asset management companies may be the perfect solution to your investment property management needs.