What Does a Property Management Company Do?

Are you considering working with a Scottsdale property management company to help you with your rental property? Those who are new to rental investment might be wondering whether they should work with one of these companies and may have some questions as to what they actually do. While it is important to remember that each of the different companies may have different policies and features, they do offer some similar basic services, such as those below.

Marketing and Filling Vacancies

Having a vacant property means that it is not making any money, and that’s the last thing a landlord wants to hear. A property management company in Scottsdale can help to reduce the amount of time a unit is vacant with proper marketing. They know how to write ad copy and how to take quality photos to ensure that the unit looks great and gets the attention of potential renters. They also make sure that the property looks good in person, not just in the photos.

The Right Tenants

One of the most important and most helpful things that a Scottsdale property manager can do is screen the applicants. This lets them know if they have the right income for the unit, as well as any factors that might preclude them from becoming your tenant. For example, someone who has a history and arrest of dealing drugs may not be the type of tenant you want for your condo unit. You can be sure the neighbors do not want that either. A proper and full tenant screening is essential today.

Maintenance and Repair

Landlords need to maintain and repair their property. They need to be able to handle tenant requests for repairs, including emergencies. A property management company makes it much easier, since they will have contacts or they may have personnel on staff that can take care of the repairs. This ensures the tenants are happy and that your property gets the attention it needs. Knowing that they have professionals who can take care of the requests will help to ensure that your property is actually getting the best care possible too.

Collection and Distribution of the Rent

The property management company in Scottsdale will also be responsible for collecting and sending the rent to you each month. This ensures you do not have to deal with the headache of collecting the rent and arguing with tenants who do not pay on time. The property manager can handle all of that for you.

Provide an Annual Income and Expense Report

Your property manager can provide you with your annual income and expense report so you can take care of your taxes properly too. While this might seem like a simple thing, you will find that having these reports ready to go and accurate will make your accounting system so much easier.

Keep You Apprised of Your Property

If you are an absent landlord, meaning you live in another city or state, then you do not have the chance to check up on your property very often. The property management company can let you know everything that’s happening with the home, including any repairs they’ve had to make, issues with tenants, and more.

Is working with a Scottsdale property management company right for you? Given all that they can do and how much easier they can make your life and the fact that they ensure you are complying with the law, it is a no brainer. Just make sure that you take the time to find a high quality Scottsdale property manager who has experience and a good reputation.