It is always a bonus as a Property Owner to feel the satisfaction of knowing that everything is ticking over smoothly, and that should the need arise you can rely on the provision of a prompt solution without the associated headaches of doing it all yourself. Finding yourself a good Property Management company can take the pressure off you, and in the hectic world of today gives you more time to concentrate on the things that are more important. Here are 6 Signs that you might need to consider hiring someone to help you manage that property.
- 1. You missed dinner – again
There you are sat in the office still completing the accounts, dealing with Insurance, sorting rent arrears and paperwork. These are the mundane tasks that are necessary evils when you own and are responsible for property. A good property Manager will take these chores on for you, giving you time to focus on the more important aspects of your business and of your personal life.
- 2. The phone is ringing at 3am
“There’s a leaking pipe….’ How often are you dragged away from your slumbers, or important work in order to find a quick solution to an emergency? Think of all the time that is being wasted looking for resources to ‘fix’ things. You will find that Property Management companies have dedicated resource on 24/7 call for all manner of problems. In today’s world we often all feel that there are not enough hours in the day to do everything that we want and need to do. Sometimes it is necessary to prioritise.
- 3. The costs of that Project are spiralling!
Your property is an investment, and that conversion/upgrade that you want to complete should increase the value of that investment to you, and also enhance the family life and community of tenants that live or work there. Managing these projects yourself can be difficult when you need to devote your time to other day to day business matters as well. A good Property Management company can devote the time, and dedicate staff to ensuring that your project fulfils its full potential keeping projects within budget and timescales and allowing you to focus on other areas of your business and capitalise on lower costs.
- 4. Your Energy Bills are Draining
You’re property is about as green as a power station, and the energy bills are skyrocketing…. A property Manager will work out the most cost effective ways of heating and powering your building(s) and will provide you with upgrade and conversion options to enable you to bring the bills under control. You will find that some companies will utilise the most recent technologies in order to achieve this for you, giving you peace of mind and lower running costs.
- 5. You are spending yet another day in court
That tenant has not paid their rent and you need to go through the eviction process, or you missed some important piece of legislation somewhere and haven’t met one of those many obligations of yours. Whatever the reason, you seem to keep ending up talking to lawyers or in court buildings. Your Property Manager will have access to the lawyers, the legislation and the time that you do not have. They know all of the standards and codes that need to be maintained. This also means that preventative measures are taken to ensure that problems do not end up in court in the first place!
- 6. You are spending all of your time dealing with staff
The people who work looking after your building are vital, but dealing with things like Payroll and day to day employee relations can take you away from other areas of your business. A good Property Manager will take responsibility for your staff, along with ensuring the smooth running of Payroll and any associated paperwork and administration. Just think of all of that time you can save.
Ultimately, you will find that outsourcing all of these property management conundrums to a trusted company will give you, the property owner, lower running costs. This means more money to spend elsewhere in the business and allowing you to prioritise areas of importance to you. Many Property Owners utilise a Property Management company like Benchmarkmgt.com, enabling them to focus their attentions on more important business areas that provide more benefits in the long term. You might find that having a Property Manager in your life enhances it very quickly!
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