Why hire a luxury property manager in Miami?

If you already own a rental property, you know that maintaining it takes a lot of effort and it is very time consuming. You also know that owning a properly maintained property can be financially rewarding. So now, how do you balance the two?

First thought, can I do it myself? Yes, you could. If you are prepared to dedicate several hours per month to this. You can try to find a handyman, you can try to oversee his working process and work quality, you can respond to all your tenants requests, collect rent, and so on. However, while doing this you could focus on expending your portfolio and your business.

Here are a couple tasks that a property management agency can assist you with:

  1. Marketing your property: Using his or her experience, a property manager has the expertise and access to information to do some research for you in order to properly strategize placing advertising ads and coming up with a marketing plan. One of the most important aspects of property management is to ensure that your property is rented without long vacancies.
  2. Finding the best tenant: a property manager should use the best platforms available to properly screen the tenant for you by checking criminal records, running credit reports, verifying past/current employment, and verifying previous landlord references.
  3. Rent payment collection and rent deposits: As you may know, on-time payments are crucial in order to maintain a positive cash flow. A property management company has an efficient platform and method put in place to collect rent and managing deposits.
  4. Tenant management: The property manager will be the go-to person for the tenant to handle both emergency maintenance and routine maintenance. Happy tenant, happy landlord!
  5. Property maintenance and vendor managements: property management company works with handyman, contractors, suppliers and vendors who are vetted already, so that will give you confidence, that could get you a lower price for services.
  6. Property management fees: Most property managers generally charge from 6-10% of the monthly rental fee. However, in average, this amount is less than what you would spend if you did not hire a professional property management company.

At Concierge Star Realty we offer a variety of luxury property management services that would not only maintain your property but help you to increase the return on your investment. Contact us at 1-305-702-7799 or email at: [email protected].com.