Decoding Property Management Fees
Why You Should Hire a Property Manager Now
We frequently hear questions about the right time to hire a property manager. If you have made the decision to rent out your property, but are still several months away from leaving, it can be easy to get confused about the right time to reach out, or sign a contract. We see many people come to us who still have three to six months left before they will be vacating their home. Often, we hear them asking when they should sign the contract; is it better to sign in advance, or closer to the move-out date?
Hiring a property manager can provide peace of mind
The simple answer? It’s best to get any contracts signed as early as you can, even if it is a few months out.
The moving process already brings enough challenges and moving parts to the table, and a property management company has the ability to take care of the majority of concerns related to the current property. Knowing that your property will be managed well, and you don’t have to add contracts or other logistics to your to-do list at the last minute, can be a huge relief.
As soon as contracts are signed, we are able to begin itemizing repairs or changes to the property, and fixing them. In some cases, these types of repairs can happen while you are still living in the home. We have a list of trusted, licensed vendors who we work with regularly, that can take care of your property and make sure it is in great condition. By signing in advance, we are able to coordinate these repairs without you having to do the legwork yourself, during an already hectic time.
When the time to move comes, nailing down contract, finalizing repairs and completing paperwork should be the last things on your mind. Signing the contract early means that when the time comes, you can focus solely on moving to a new location and enjoying your new space.
Signing Early Saves Time (and doesn’t use extra money)
A common concern when discussing signing a contract months in advance is the associated cost. Understandably, clients are hesitant to pay for a service months before they intend to use it. However, this is a common misconception.
Signing a contract early should not incur any additional fees. There is no increase in cost for signing early, and management costs are not charged until a tenant has been placed in the property.
Signing the contract has only positive outcomes, with maintenance issues fixed earlier (and therefore, potentially getting a tenant in faster), no increased costs, and the peace of mind of knowing that any challenges will be handled efficiently and quickly. If you are a few months away from moving out of your property or have any question regarding the process of hiring a property manager, don’t hesitate to fill out the contact form below and start a conversation about your property’s needs.