What Are the Responsibilities of a Property Management Company?
From career opportunities, marriages, and deaths causing moves away from rent-worthy properties already owned to just stumbling upon a great investment rental property or actively seeking one for extra income, there are innumerable reasons that people find themselves in the owner-renter relationship. It all looks great on paper, right? So, why do property management companies exist?
Once the owner-rental situation is reality, most owners find that there’s a lot more work involved than just collecting their renter’s money. Property management companies act as a third-party bridge to mitigate the work, pitfalls, and shortcomings involved in owning a rental property so that owner’s really can just sit back and collect their rental income.
How? Let’s take a look at just what property management companies are responsible for doing. Keep in mind that this list is what they should be doing, not what all actually do. It’s important to vet companies offering … Read More