Tell-Tale Signs You Should Hire a Specialist in Real Property Management – Columbus, Ohio
Columbus, Ohio is home to many residential and commercial rental properties. In the past few decades, we’ve noticed a steady increase in building owners and landlords looking for help. Let’s face it, property management is a long-term ordeal, and not everyone has the time to perform real property management – you are not alone. Maintaining and running a property can quickly become overwhelming. Do the following five statements ring true for you? If so, they may be signs that you need help from an on-site property manager for hire!
- You want your investment to be profitable.
- You expect your property to be well maintained.
- You want your tenants to be well-serviced but don’t have the availability.
- You feel in over your head.
- You keep thinking, “there’s more?!”
Why use a property manager?
If you resonate with any of the initial five sentiments, then these specific questions will help you narrow down whether on-site property manager services are right for you. These practical questions are a realistic gauge for any property owner. Ask yourself these questions and consider your needs:
- Is your rental property located near your residence?
- Does your schedule allow you to handle issues that require immediate attention?
- Do you understand the regulations concerning all types of housing programs?
- Are you willing to take care of the day-to-day management tasks yourself?
If you’ve answered “no” to any of the above questions, on-site property manager services may be appropriate for you. Ultimately, they fill in where you’re unable to be present and handle every issue that arises. You’ll have peace of mind knowing that your tenants will be attended to by a full-service team, and you’ll get to make the most of your investment without the inundations of micromanagement.
What will a property manager do for me?
When you hire a property management company, you’ll be able to focus on running your business and not worry about the minute details related to your property. You’ll collect on your investments without doing the day-to-day work, which can be tedious. While the services property managers provide range from company to company, below are some examples of a property manager’s typical tasks:
- Ensure that your property remains rented by providing advertising, interviewing/screening, and tenants’ placement.
- Set and adjust the correct rental rates based on property value; they stay on top of the property’s current value and negotiate with prospective renters.
- Manage your current tenants; whether it’s maintenance, finances, or legal issues, your property manager will take care of your tenants.
- Identify and advise you on the ideal prospective tenants; property managers will manage the interviewing process and handle all paperwork.
- Collect and deposit the rent; your property management team can set the due date for rent payments, collect the checks, and deposit them into the appropriate accounts.
- Handle compliance issues, housing regulations, tax regulations, and insurance are just a few compliance matters that a property management company can handle.
What do property management companies do, specifically?
Below are some baseline tasks that licensed property managers can handle for you:
- Setting appropriate and competitive rental rates
- Marketing your property
- Selecting the right tenants
- Eviction dealings
- Managing tenants and their needs
- Property maintenance
- Compliance and legal issues
- Management of vendor relationships
- Investment management
- Maximizing your profitability
Is hiring a real property management company right for you?
Owning property is much more than collecting a check; it’s a long-term investment that requires daily attention and meticulous care. It’s a physical asset of value that does require work for upkeep. Ask yourself these questions:
- What on-site property manager services will you need? Do you know? If you are looking at a large piece of property, you may need more help than just rent collection.
- Do you have marketing experience? You will need to be able to put your property on the market and advertise effectively to ensure rentals.
- How much liability do you want? When you have a real property management company in charge, you are giving them a disadvantage.
Hire a property management company you can trust!
For residential properties, industrial properties, and commercial properties in Columbus, Ohio, and throughout Central Ohio, our licensed property managers have been the trusted source for over eight decades. The Robert Weiler Company’s real property management services are comprehensive of everything you should expect from a property management company as listed above, and more, including:
- Technology: A modern experience utilizing one of the most advanced, user-friendly software systems with 24/7 access to personal accounts and documents for both owners and tenants to have access.
- Legal and Financial Advice: Years of experience in this industry means that we can offer you time-tested advice for all of your legal and financial needs from the Ohio laws to your tax obligations.
- Support: Even when not physically located at your property, we’re always at your side through our software or a simple phone call.
- Experience and expertise: We are an 80-year-old commercial real estate firm, and there isn’t much we haven’t seen (or can’t anticipate). Plus, we boast a fantastic portfolio of commercial and residential units of all sizes.
We pride ourselves in supplying a full-service property management team dedicated to your needs. Call us today at 614-221-4286 to speak with one of our advisors to optimize your property management solution.