A management company for rental properties is a group of professionals responsible for the day-to-day operations and management of residential and commercial real estate. They can help with property maintenance, tenant & landlord interaction, and financial reporting.
Landlords and investors can find great success with rental properties when they hire a management company to handle the responsibilities and tasks associated with the investment. Their job is to manage the property so that it generates the highest return on the investment, while also providing a comfortable living space for tenants.
They can accomplish this with marketing & showings to find qualified renters, screening & leasing services to protect the property, and daily management that collects rent, handles maintenance, and manages lease issues so that owners are hands-off. They start with a free rental analysis that ensures your property is priced correctly and offers suggestions for improvements to maximize your earnings.
The best management companies charge a fee for their service, which typically runs between 5% and 10% of monthly rent revenue. Before selecting a company, review their website to see what services are included in this fee and whether any additional charges apply for specialized tasks or situations. It’s also important to ask how many properties the company manages, as larger companies may not have the resources to manage a single rental. management company for rental properties