Should you manage your Tampa rental home yourself or hire a Residential Property Manager?
Many times, people who are renting out property are confused about whether they should manage that property on their own, or hire a residential property manager to do it for them. If you have a residential property that you want to put on the rental market, you might be wondering why landlords have property managers and what exactly they do. Here is an overview of why people use residential property managers in Tampa, and what sorts of services you can expect when you hire a professional property manager.
Why Hire a Property Manager?
Residential property managers take care of rental properties for their owners.
Three most common reasons that people use professional property managers:
- Landlords no longer live in the area. If you have a property in Tampa that you are renting out and you move out of the area, you want someone to be your local eyes and ears. A residential property manager in Tampa can take care of your property even when you are living out of state or even out of the country
- Time. Many people also use property managers because being a landlord can be time consuming. Even if you remain local, you might not have the time to devote to caring for your rental properties and managing your tenants. For example, if you are a doctor with on-call hours and long shifts at the hospital, leaving your property in the qualified hands of professional property managers can be a big help.
- Convenience. Even if you have the time to devote to managing your own residential rental property, you might not want to deal with the hassles that come with it. If you do not want to chase down tenants who are late paying their rent or answer the 2:00 a.m. phone calls about the air conditioning breaking down or the roof leaking, having a property manager to take care of these things for you is a good idea.
What can you expect when you hire a professional residential property manager in Tampa?
You can expect the following services:
- Advertise your property and attract tenants
- Screen tenants and run background and credit checks
- Put together an enforceable lease for the tenant and landlord
- Collect rent
- Perform inspections and repairs between tenants
- Schedule and oversee all required maintenance
- Manage all of the accounting that goes with residential rentals
Your residential property manager will oversee all aspects of the tenant and landlord relationship and most importantly, stay in touch. You can rely on regular updates from your property manager and your tenants will know they have a local person to reach out to anything something is needed.
Contact us or give us a call if we can answer any questions at (813) 875-7474.