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The primary purpose of employing property management is peace of mind. By hiring a reputable, effective property management group, owners of one or more properties can rest easy knowing that any emergencies will be swiftly confronted and dealt with, requiring minimal input or effort on your behalf.

How Property Managers Raises Your Investment

Owning investment property is a great way to build wealth. Yet, many owners don't hire a property manager because they don't want a cut of their profits. In fact, this amount is usually around 5-10% of the monthly rent. It's understandable to want to keep your profits and increase your ROI, but there are many benefits of working with a property manager to consider!

Property management is a complex balancing act between the owner, the property, and the tenants who live there. Officially you're in charge of taking care of the property but in reality, you are also responsible for acquiring and managing tenants, keeping the property maintained, and working with the client owners to get important or financial decisions approved. Between the inspections, work orders, and being a de-facto landlord, this can stack up an impressive amount of paperwork that must all be organized, tracked, and quickly referenced should they be needed for anything later on. Handling all these documents can take up hours of your time every week, especially if you're still working with physical paperwork or a simple personal files system. Either way, your job could be a lot easier simply by taking advantage of one of many available online document management apps, sometimes called a DMS (document management system).

If you own rental properties, it can be a headache to keep all details, emergencies, and day-to-day operations under control. If you are thinking about bringing on a property manager to help, there might be more reasons this can be a benefit to you than you realize. Property managers can save you money in the long run by keeping on top of tenant and property needs. Here are five ways a property manager can actually save you money in the long run when it comes to rental properties and income.