If you’re wondering why you need a professional property management company, it comes down to knowledge.
Maybe you have bought a rental home, or maybe you bought a new home and you want to convert your old home into a rental property. Or, perhaps you have decided to take a job out of state, but you want to keep your property and rent it out. Whatever the case, you have become a landlord. You may be wondering why you need to pay a professional property manager to take care of your property.
Today, we’re sharing one reason that a professional management company is critical.
Phoenix Property Management and Tenant Placement
The most important thing you can do as a landlord is to place a good tenant in your property. Owners run into problems with tenants when they’re managing on their own. They might find a tenant on Craigslist who seems nice and has a great handshake, but that tenant hasn’t paid rent in three months. So, they need help. Perhaps they didn’t have the resources to check out a tenant, or they weren’t careful. Property managers have the tools and resources to conduct a thorough tenant screening.
Realtors versus Professional Phoenix Property Managers
Sometimes people will have a Realtor find them a tenant. Often, Realtors are more anxious to earn a commission than to find you a great tenant who pays rent on time and takes care of your property. They don’t always do the background checks that we do at McMath Realty.
Recently, we had an owner come to us because a Realtor had placed a Section 8 tenant in their property. There was a lot of crime going on, and the lease was violated in many different ways. This is because the agent who placed the tenant just wanted a commission.
Quality Tenant Placement is Required for Property Managers
A property management company has a vested interest in placing a good tenant because they know that bad screening and tenant placement is 1 of the main reasons owners fire their property manager. We know that if we place a bad tenant, we’ll likely lose your management contract. Many times, property managers spend thousands in marketing costs just to attract new clients, so they aren’t going to risk losing a client by placing a bad tenant. We know you can leave us a negative review if we place a horrible tenant, and that will turn away future clients. All kinds of problems are created for a management company when a bad tenant is placed. So, we will do our best to find, screen, and place the most qualified tenants.
At McMath Realty, we have a 98 percent successful tenant rate. On the 10th of every month when we are paying our owners, we check our own accounts. When we see that 98 percent or 99 percent of tenants have paid rent on time and are taking good care of the property, we know we’re helping you succeed. That’s what you want in a property management company.
We’ll talk more about why you need a professional Phoenix property management company in our next blog. For now, if you have any questions or need any help with tenant screening and placement, please contact us at McMath Realty.