A good property manager can show you what tenants will pay for and what they will not.
It’s a simple fact of life: the nicer the property, the nicer the tenants. We see it all the time when a property is run down, the only tenants it will attract, will be people who don’t care about the property, and they are the type of tenants that take up most of our time wanting things fixed. A satisfied, responsible tenant will have no reason to move out, and will pay rent for years to come (as long as you keep up with repairs). Anybody who lives in a home they love and are proud of will naturally take care of the property as if it were his own.
All property owners should make note of the above, whether they are new to the industry or seasoned property owners. One of the best ways to avoid these critical mistakes is to employ an experienced and reputable property manager. From tenant screening to lease drafting, routine inspections to maintenance requests, a good property manager can tend to all things property related on a daily basis so you don’t have to. Plus, with their knowledge about the industry, you effectively avoid making any mistakes on your own because your property manager has everything handled for you. Their fee is also tax deductible – win/win.