11 Reasons Why You Should Choose Ataraxis Property Management

You’ll Make More Money With A Property Management Company:

Many community owners are afraid to hire a Property manager because of the cost involved – not realizing they will actually make more money in the long term due to the increased care of the community. You will get better residents that stay longer and have less damage and repairs to deal with. Your community remains in great shape.

Finding The Right Residents:

Experienced Property managers are experts at finding good residents, and will take care of all the details, including the securing all criminal background and security checks, running credit reports, verifying employment, and collecting previous landlord references.

Managing Residents:

In addition to finding good residents, a Property management company will manage all aspects of the Tenant-landlord relationship. The Property manager will handle both routine and emergency maintenance, take care of routine inspections, and manage any situations where conflict resolution is required. Thanks to screening and a bigger pool of potential renters If you hire a Property manager with experience, they will know exactly how to find the best residents and screen out potential residents with a bad history. Property managers have a bigger pool of applicants to choose from due to their extensive marketing and advertising programs. An established Property manager will already have waiting lists of potential residents. The result is better quality residents in your community faster.

Setting The Right Rental Rates:

While looking through the classifieds to see what other landlords are charging for similar communities is a fine way to ballpark your rent price, a good Property management company will conduct a thorough market study in order to set a rental price for your community, ensuring that you achieve the perfect balance between maximizing monthly income and maintaining a low vacancy rate.

Marketing & Advertising Your Community:

Through long experience, a Property manager will know exactly where to market your community and how to craft compelling advertising materials, which is a significant advantage when it comes to filling your communities quickly and avoiding long vacancies.

Managing Vendor Relationships:

Property management companies have relationships with maintenance workers, tradesmen, contractors, suppliers, and vendors that it's almost impossible for an independent landlord to duplicate. Not only will your Property manager get you the best work for the best price, they'll oversee any necessary maintenance projects.

Collecting & Depositing Monthly Rent Payments On-time:

If you've ever worked in a billing department, you know that securing payment from clients can be difficult, not to mention awkward. Property management companies have efficient, tried-and-true systems in place to effectively collect rent and maintain on-time payments. You'll find this particularly important if you have a limited number of communities, and collecting payments on time is crucial to maintaining your cash flow.

It can be a full-time job to track rent payments, collect late fees, deal with complaints and repairs, prepare the community for new residents, find vendors, and deal with bad residents. It may also become a constant source of stress. Relinquishing these ongoing responsibilities to an experienced Property manager can allow you to benefit from your investment without sacrificing your time and health.

Property Managers Know The Law:

How much do you know about the laws that apply to being a landlord? One of the biggest advantages to hiring a professional Property manager is the ability to avoid some legal hassles. With a full understanding of all the state and federal laws when it comes to discrimination in screening and selecting residents, Property managers avoid breaking discrimination laws. In the event that an eviction becomes necessary, an experienced Property manager will know how to handle it in a way that will save time and money while staying within the boundaries of the law. There are a multitude of applicable laws and regulations to abide by when renting and maintaining your rental community. These include local, state and federal regulations, as well as fair housing regulations (such as the ADA). A Property manager can help you avoid lawsuits by keeping your community up-to-date and in compliance with these regulations.

COVID-19 cases, hospitalizations, and deaths across the United States are rising. As cold weather moves in, people spend more time indoors, and the holidays approach, take steps to slow the spread of COVID-19. Wear a mask, stay at least 6 feet apart, avoid crowds, and wash your hands often. The more steps you take, the more you are protected against COVID-19.

Property Managers Serve As A Buffer Between Owners & Tenants:

When using a Property management company, a community owner is able to keep a professional distance from their residents. Getting too personally involved can result in being too lenient on certain issues or too defensive about certain types of complaints. Renting out a community is a business and it is much easier for a Property manager to keep things on a strictly professional level. When issues arise, a professional Property manager is better prepared to deal with the problem effectively.

Enabling You To Invest In Geographically Distant Communities:

If you manage your own communities, you're pretty much limited to investment opportunities within a tight radius of your own home. By hiring a Property manager, you can take advantage of investment deals in any location you wish.

Maximizing The Profitability Of Your Time:

By having a Property manager take care of the day-to-day aspects of running your income community, you're free to spend your time identifying further investment opportunities or otherwise furthering your career. Most Property managers charge a percentage of your community's monthly rental rate in exchange for their services. The rate typically runs anywhere from 4.5-10%, which is generally less than the money you save by hiring a professional to take care of your community. How much time does it take to be your own landlord? Could you be making better use of your time?