The property management company deals with your property from different sides. If you are a landlord, then it is no simple task to handle or take care of your property, because many legal issues will be government or non-government or about them you didn’t study ever. There are also many types of tenants and some are too rude. So, maybe your property is at risk that you can’t be able to handle.
That’s why it is important to make sure that your property is secure and safeguard anyhow. So, you go with the best and renowned property management company and they will take care of your property in many ways. They not just letting you lead hassle-free life but also brings good customer for your property. And they also make the things for your property that will increase the value and brand of your property.
Let’s go with us and we talk more about this article and know more information about Property Management Company that will help you to take care of your property and also know the benefits of hiring them.
Role of a property management company
If you have any property then as a landlord you don’t want that your property will damage by any type. But it is also true to take care of the property is not a simple task and you want to live a hassle-free life. So you don’t face any hassle or don’t get any mental burden for your property. You have a property it doesn’t mean that you are happy because there many property issues that are not easy to handle. And a landlord and want to lead a hassle-free life, then you think to hire a property management company that will take care of your property and also have several benefits of hiring them. There are many roles of a property management company that you will never listen to about them or you never experienced. And today we discuss those roles:
- Property maintenance
You don’t have to have property then you also have enough time to take care of it. And after some time you feel it like a burden to take care of your property. So you can go to the property Management Company and talk to them about your property. They just not take care of your property but even they add it a market value that gives you more benefit. And you get more benefits to go with property management companies.
- Rental Collection
The toughest thing about the property is to collect rent from the tenants, because you don’t know about the behavior of your tenant. It may be possible that they don’t give you rent and it is very stressful for you. And you may think that your property has risk by those tenants. But with the property Management Company, it is easy for you. Because they know how to collect rent from tenants on time. Because there may be some bad types of tenants are at your property right now.
But you don’t need to depress because employees of the property management know the tricks to get rent on time. They use their excellent communication skill and professional behavior while talking to tenants and they get rent.
- Tenant Management
It is very difficult for a property owner to find sincere and honest tenants. Mostly when they are new and they don’t know more about tenants and how to handle them. Because it may be possible that the tenant you have for your property is of criminal type in nature and don’t have any manner how to talk. In this case, there are many chances that your property is at risk. But with a property management company, you don’t have any need to take worry about tenants because they will find the tenant for your property professionally and make sure that your property is safe with them. So, you keep away from dishonest tenants.
- Paper works
If you have any property then there are many legal and paperwork issues of it. And about those paperwork or legal issues, you don’t’ listen and don’t know anything about them. But the property management company will handle all the paper works and legal issues effectively. These paperwork and legal issues may include lease contracts, financial report preparation, and other legal issues. But these companies are skilled in terms of paperwork. And by hiring them you have no burden about your property and it will also reduce the risk of your property. And the value of your property will enhance.
List of Best Property Management Companies
Here we have the top 10 property management companies that are the top and best in the United State of America. All these companies have a good track record for their services and dealing with property for a long time. Hence, you just get to know them and can easily trust them.
Greystar Real Estate Partners
Greystar Real Estate Partners is the topmost leading property management company in the United State of America. This firm was founded by Robert A. Faith in 1994 and situated in Charleston, SC. This company is very famous and has 4, 15,000 units under management in 2018. They have their active services in more than 30 countries.
Pinnacle
Pinnacle has up to 172,000 properties under it. The headquarter of the firm is in Dallas, Texas is the property management company. With this firm, you can live your life without any stress; they will take care of your property and gives it more value than the market rate. And also helps you in providing tenant if you want.
Lincoln Property Company
Lincoln Property Company is considered as a leading property management company in the United State of America. This firm has more than 184,000 units under it. This firm is located in Dallas, Texas, and run by the President and CEO Tim Byrne. This company mainly works in property development, construction, and rehabilitation.
FPI Management
FPI Management is a big company and best known for property management. Under this management company, there are 114,000 units across 14 states which are managed by this firm. This firm also works for different services like providing affordable housing for students, single mothers, and for senior citizens. The CEO of this company is Dennis Treadway and this is situated in Folsom, CA.
Alliance Residential
Alliance Residential had its headquarter in Phoenix, AZ the chairman and CEO is Bruce Ward. It is one of the leading property management companies in the United State of America. If you are seeking the largest developers then they are one and best. They are good in their field and have skills in all their work. They work for a lease contract, apartment marketing, asset management, and others.
MAA
MAA is a brand name in the realm of the real estate business. This company works in this field for two decades. These companies headquarter in Memphis, Tennessee and the chairman of the company is H. Eric Bolton and working also as a CEO of the company. This company is publicly traded as a real estate investment trust. MAA is currently working for apartment investment across the southeast and southwest of the United States.
Winn Companies
Winn Companies is also a very big company for property management and it has 100,000 properties in 22 states. The firm mainly focuses on developing and managing properties. This firm is mainly known for developing the work of houses of the multifamily property of the military.
Winn Companies has headquartered in Boston, Massachusetts and the CEO of the firm is Gilbert Winn. The firm highly puts importance on the market rate apartment and senior communities.
BH Management, LLC
BH Management, LLC is a company that deals with property-related issues. This company is the subsidiary of the BH Company that is one of the brands that provides extensive services in terms of investment services and real estate management.
Under this company, there are 67,000 properties. This company is such a reputable property management company in the market. This property management company is situated in Des Moines, Lowa. The chairman of this company is Harry Bookey.
Equity Residential
Equity Residential is the property management company that deals with high and more expensive properties. The Headquarters of the company is situated in Chicago. At present, it is headed by CEO David J Neithercurt. It deals in many states and cities like New York, Washington DC, Los Angeles, Boston, San Francisco, Seattle, Denver, San Diego, and many. There are more than 78,000 properties under this company. That sounds good to choose the company for your property.
Apartment Management Consultancy, LLC
Under Apartment Management Consultant, LLC, there are over 86,000 properties that they take care of or runs. It sounds awesome indeed. The firm runs his programs up to 22 states in the country. They have the company’s headquarter in Cottonwood Heights, Utah. This property management company has good dealing in with investment management, working with an insurance company, asset accounting services, and many other services they provide.
Benefits of having property management companies
When you have much property but you don’t have time to take care of them, then it is a very difficult task for you to maintain them in better condition. But you can hire a Property Management Company and they will take care of your property even they can revenue indeed. There are some of the benefits of hiring a Property Management Company for your property:
High quality of tenants
For a new property owner, it is not easy to find out the good quality tenant for his property. The high-quality tenants mean that your property has fewer problems. But the property management company easily finds out the good and high-quality tenant for your property and make sure that your property is safe with them.
It is common that as a property owner you want the rent on time, tenants stay at your place for a long time and they don’t face any issue while living there. And all this happens only when you go with the help of a property management company.
Less Legal Problems
It is a big issue for the property owners to check the background details of the property. Because if you’re a property owner then you don’t want that there is any problem because of any miscreants. And you aren’t able to find the good and obedient tenants for your property. But a property management company will do this for you and in an effective way.
Not only this, but there are many other legal issues to handle. Like, collecting rent, lease contract, submit security, unit inspection, property condition and safety, and tenants eviction. Truly, the property management company will handle all these things easily and you can live peacefully without any stress about those issues.
Value of your Rental property
It is true that if you have a property that is far away from your living location then it will cause many issues to your property. Even it is risky to your property because you can’t take care of it from your living place. And it wills less down the rental value of your property. But don’t need to take stress about this because you can hire property management and they will take care of it. They also work for it, promote it, and increase the rental value of the property.
Personal Benefits
The personal benefit of hiring the property management company is that you can live a stressful life because you can’t handle it alone. So, you can hire a property management company for your property because they will take care of this and also adds up the value to your property. This can give you time for yourself to live happily.
As you see that there are many benefits of hiring a property management company for your property.
How can I choose a Property Management Company?
If you are a landlord of any property and don’t want to get any type of risk about your property and want to live a stress-free life then you can hire any property management company for your property. They will help you in taking care of the property and also add up your property value. But before hiring them, firstly think some points:
Know from your dear ones
Someone near you or around may know any property management company or they have the property for which they hire them. You can talk with them and know about the property management company. Maybe they will suggest your best property management company and it is also a good idea to take help from your dear ones.
Online source
Online is the best place and the best option for searching for the property management company. Because online is an open place for everything. Here you can search for anything and found the results in seconds. On the internet, the number of property management companies have their website and here they talk about their services. Even you can choose any property management then you check their reviews and also check out the rating of the company. So you are satisfied that you choose the right company for your property.
Shortlist some Renowned companies
There are lots of companies that provide their services and make you sure that your property is safe with them. But before you select any property management company you have to check about their work manually and also know the status in the market. You have also check their terms and conditions and also share your condition with them. Be authentic with them to share your needs and requirements from them. After getting the satisfaction you can go with your decision.
Learn about the handling of their Functions
It is very important to know about the work of the property management company before hiring them. You can know about them how the tenants provide any landlord for their property. Because if the tenant is obedient and law-abiding the rules then you make sure that your property is safe with them and there is no risk to your property from them. Also, how the employees of the company take rent from the tenants. The rent collection method should be fair and effective. Good property management always stands as a win-win position. And make a strong relationship between the property management company and the tenant.
How much does a property management company cost?
The property management companies’ cost depends on the base of the location of your property and also on which company you select. Their fees are varying on different factors. And it also includes the type of property as a workforce and hours.
Those property management companies take the charge on the base of the monthly rent that is in the mid of 8-12%. Apart from this, there may be some additional expenses that go up to $100. But mainly these companies work on the monthly rent charges.
Final verdict
By hiring a Property Management Company for your property you can live a hassle-free life. You don’t need to worry about your property anymore. Around you, there are many companies available that provide their service for taking care of your property and also provide you the best tenants for your property. This property management company truly is dedicating you safeguarding your property, even they work for your property to grow its value. And can take also many benefits of hiring them.