Before becoming a professional property manager in Cleveland, OH, I was a rental property investor and I worked in various parts of Ohio. I was particularly fond of northeast Ohio and the surrounding metro areas. If you have ever lived in the area, I am speaking of Cleveland, Akron, Canton and Youngstown. Eventually, like every person who owns rental property, I asked myself, “Do I need a property manager?” and the second question I asked myself was, “What does a property manager do?”
To put it simply, a property manager gives you peace of mind. Let’s say you have five rental properties located in five different communities around Cleveland. You own a duplex in Euclid, a cozy 3 bedroom, 2 bath in Brooklyn, OH, a large 5 bedroom in Cleveland Heights for the college kids, a 4-plex in Medina and you found a steal on a small 2 bedroom in North Olmstead. Even though all of your properties are in the same general area, you are going to spend a great deal of time managing your portfolio. You can look forward to lots of time spent driving to your investments, qualifying tenants, collecting rents and hiring qualified and skilled trades people to work on your property. Based on my own experience, I can easily say, a qualified professional property manager will definitely benefit you.
Let’s face it, a professional property manager is probably better at property management than you are. A property manager should have the systems in place and likely has the experience of managing many more properties than the typical rental property owner. That little 1100 square foot, 3 bedroom place you have for rent in Cleveland will be a money maker only if you can find a tenant that will pay on time, rent longer and put less wear and tear on the home. A property manager, like those at All County NEO, has had the experience of screening thousands of prospective tenants, many more than most property owners ever will. Therefore, a good property manager is often better equipped to find that perfect tenant and is skilled enough to avoid the scams, poor tenants and discrimination lawsuits.
And don’t forget about the hidden costs of owning rental property. While it is easy to see the lost income caused by vacancies, there are serious issues to consider with a high turnover rate. Each time a tenant moves out, you will incur costs like cleaning, painting, repairing and replacing things associated with the previous tenant. A good property management company will have a consistent approach to re-leasing your property to that perfect tenant.
See, just like I said, peace of mind.
All County® NEO Property Management property managers are licensed real estate agents, members of the National Association of Residential Property Managers, Ohio Association of Realtors and the North East Ohio Regional Realtors Association. Our team of professionals offer unparalleled rental property management services in the following areas: Cleveland, Akron, Canton, Youngstown and their surrounding communities.