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Considering a Property Management Company?
ForRentLocal.org is a great way to advertise your rental property, but that is just the beginning of the responsibilities of managing a rental property yourself. For each vacant property, it is common to receive 30 or more phone calls and to show it at least five times before finding the right tenant. A property management company not only advertises your property, but receives all the phone calls and handles all the showings for you. Once a good applicant is found, it is your responsibility to run a background check and then sign a legal lease specific to your state. Property management companies know the legalities involved and the processes to take to screen and sign the right renter for you.
While your property is occupied, you are responsible for holding their deposit in an escrow account until they move out, as they will be subject to a full or partial refund. As a self-managed landlord, you will also be "on-call" 24 hours a day for repairs and maintenance calls, as well as complaints from neighbors or other tenants in a multi-unit property. A property management company handles all these responsibilities for you during the lease.
The most difficult part of managing a property is the eviction process. If not done properly and according to local law, the process can take months, all while you aren't receiving rent. A good property mangement company knows the most effective and expedient process for evicting problem tenants so you can get a new renter in as soon as possible.
If you would rather leave the management process to a professional company, we recommend the following local management company: