{"id":385,"date":"2018-09-17T18:06:55","date_gmt":"2018-09-17T18:06:55","guid":{"rendered":"https:\/\/www.cincyrents.com\/blog\/?p=385"},"modified":"2024-03-20T18:16:09","modified_gmt":"2024-03-20T18:16:09","slug":"the-value-of-a-property-management-company","status":"publish","type":"post","link":"https:\/\/www.cincyrents.com\/blog\/2018\/09\/17\/the-value-of-a-property-management-company\/","title":{"rendered":"The Value of a Property Management Company"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Property investors can choose to hire property management companies to handle the duties of their rentals.<span class=\"Apple-converted-space\">&nbsp; <\/span>While this will cut down on their rental profit each month, the value that a property management company provides may include both monetary expense and time benefits.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>Property Maintenance<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">A rental property requires both routine and emergency maintenance.<span class=\"Apple-converted-space\">&nbsp; <\/span>It takes a good amount of energy to keep a home or apartment as nice as when you first invested in it.&nbsp;<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Good maintenance management can improve your property\u2019s bottom line.<span class=\"Apple-converted-space\">&nbsp; <\/span>Aside from responding to tenant\u2019s emergency call in a promptly manner, regular maintenance tasks must be performed as well.<span class=\"Apple-converted-space\">&nbsp; <\/span>These can include:<\/span><\/p>\n<ul>\n<li class=\"p1\"><span class=\"s1\">Plumbing<\/span><\/li>\n<li class=\"p1\">Electrical<\/li>\n<li class=\"p1\">Painting<\/li>\n<li class=\"p1\">Appliance repair<\/li>\n<li class=\"p1\">Grounds keeping<\/li>\n<li class=\"p1\">Cleaning and housekeeping<\/li>\n<li class=\"p1\">Snow removal<\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s1\">Investors will want to have a schedule and tracking system of these and any maintenance requests for each property that they own to keep record for both owners and tenants.<span class=\"Apple-converted-space\">&nbsp; <\/span>This can become an extremely time consuming task depending on the properties owned.<span class=\"Apple-converted-space\">&nbsp; <\/span>Hiring a property management team to handle maintenance can be a huge help.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>Filling Vacancies<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">If a rental property becomes vacant, owners will want to fill it with a new tenant as quickly as possible; which requires more than just an ad.<span class=\"Apple-converted-space\">&nbsp; <\/span>This is another time consuming aspect of managing a property that management companies can play a big role in.<span class=\"Apple-converted-space\">&nbsp; <\/span>Filling vacant properties includes:<\/span><\/p>\n<ul>\n<li class=\"p1\"><span class=\"s1\">Property visits<\/span><\/li>\n<li class=\"p1\">Speaking with prospective tenants<\/li>\n<li class=\"p1\">Property showings<\/li>\n<li class=\"p1\">Collection of rental applications<\/li>\n<li class=\"p1\">Tenant screenings<\/li>\n<li class=\"p1\">Approval of tenants<\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s1\">Prioritizing tenant screenings is an important step if you want to keep your property eviction free with a valuable and longterm renter.<span class=\"Apple-converted-space\">&nbsp; <\/span>This includes examining a potential renter\u2019s credit report, background check, eviction history, references, and verification of income.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>Rent Collection<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">There are a number of reasons that a tenant\u2019s rent may not be paid on time.<span class=\"Apple-converted-space\">&nbsp; <\/span>Property investors typically are not concerned with the why a tenant\u2019s rent was not received, but with the payment actually arriving into the property\u2019s bank account. A property management team can handle speaking with the tenant and ensuring the rent is collected in a timely manner.&nbsp;<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>Knowledge of Laws<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">As a property owner, it is important to be aware of the renting laws in your state.<span class=\"Apple-converted-space\">&nbsp; <\/span>Property managers regular attend conferences and business events to stay up to date on the latest rental laws and policies.<span class=\"Apple-converted-space\">&nbsp; <\/span>These can be valuable insights that property managers can then convey to owners and enforce compliance with for the individual properties and renters they are managing. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>Duties of Property Managers<\/b><\/span><\/p>\n<ul>\n<li class=\"p1\"><span class=\"s1\">Property managers may also have the following duties:<\/span><\/li>\n<li class=\"p1\">Property inspection<\/li>\n<li class=\"p1\">Rent increases<\/li>\n<li class=\"p1\">Taxes<\/li>\n<li class=\"p1\">Property insurance<\/li>\n<li class=\"p1\">Evictions<\/li>\n<li class=\"p1\">Tenant Relationships<\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s1\"><b>Property Management Company in Cincinnati<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Property management companies can maintain a profitable rental property on behalf of an investor by performing the above duties.<span class=\"Apple-converted-space\">&nbsp; <\/span>If you are looking for a property management company in Cincinnati, <a href=\"https:\/\/www.cincyrents.com\/contact.php\">contact<\/a> Cincy Rents.<span class=\"Apple-converted-space\">&nbsp; <\/span>We have a variety of professional property management services for property owners to save their time, work, and stress.&nbsp;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Property investors can choose to hire property management companies to handle the duties of their rentals.&nbsp; While this will cut down on their rental profit each month, the value that a property management company provides may include both monetary expense and time benefits. Property Maintenance A rental property requires both routine and emergency maintenance.&nbsp; It [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[60,61],"tags":[],"class_list":{"0":"post-385","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-landlords","7":"category-property-management","8":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Value of a Property Management Company | Cincy Rents<\/title>\n<meta name=\"description\" content=\"A property management company can be a valuable 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