So what is a property manager?
A property manager is a third party individual that some property owners hire to deal with the day to day issues and situations that having a rental property can bring up. They can deal with just one property or multiple pieces of real estate and, depending on their salary and contract, they can deal with pretty much anything you need done for your property in Puerto Vallarta and Riviera Nayarit.
So what kinds of roles they can take on?
A property manager in Puerto Vallarta and Riviera Nayarit can take on any, or all, of the following roles:
The financial whizz.
A property manager in Puerto Vallarta and Riviera Nayarit should have a good knowledge of the market in their area and will know, roughly, what price certain kinds of properties can expect to get per month when they’re in that area. This means that they can compare your property to others around it and help you to set an attractively competitive, but profitable rate.
They can also advise you regarding cosmetic changes to your property that would make it more attractive to certain kinds of tenants. Furthermore, they can tell you when and how to adjust the rent you’re asking for so that you retain a competitive edge in Puerto Vallarta and Riviera Nayarit.
And, should the need arise, they can even turn enforcer and collect overdue rent payments, apply late fees and ensure that they are paid, too.
The people person.
Tenant management is one of the trickiest parts of land-lording, but it is also a specialty of the property manager.
If asked to do so they can help you to attract new tenants by advertising in the right way to the right people and, when you get prospective tenants, they can screen candidates. This is definitely as bonus as experienced property managers will have seen hundreds, maybe thousands, of tenants during their career and will be able to help you avoid the really bad ones.
Your property manager in Puerto Vallarta and Riviera Nayarit can also set the length of the lease and make sure that you’re fully protected as the owner of the property. This includes setting the required security deposit.
A property manager in Puerto Vallarta and Riviera Nayaritwill also deal with tenants who are moving out; they will inspect the property and ensure that they have left the property in a good state. They will determine if any of the security deposit should be withheld and ensure that the property is clean and tidy for the next tenant. Furthermore they can deal with complaints about and from your tenants should they arise, and if needs be they can initiate and oversee the eviction of particularly unruly tenants.
If you start expanding and take on other staff, such as cleaners or security, your property manager can take care of the hiring and firing (so to speak) as well as setting the salary of these employees. You can also use them as a kind of supervisor who ensures that other members of staff are doing their jobs properly.
The handyman (or woman).
When it comes to keeping your tenants happy and protecting your reputation as a landlord in Puerto Vallarta and Riviera Nayarit you should keep your property in good repair. This is also an area in which your property manager could help. Many experienced property managers will have a network of plumbers, interior designers, electricians and contractors that they trust to get work done quickly, efficiently and to a high standard.
Your property manager in Puerto Vallarta and Riviera Nayarit will keep your properties in good shape through preventative maintenance and by repairing any issues as quickly as possible. This isn’t limited to full properties either; they can also keep your vacant properties secure and clean with regular security checks and spring cleans so that they are always ready for new tenants.
So is a property manager necessary?
Well, that depends what you mean: Is a property manager necessary in the sense that you cannot do what they could by yourself? Not at all; with time and dedication you can do all the same things as a property manager. However, what they have is experience and a specialized skill set. A property manager is necessary if you don’t want your investment property to take over your social life and free time.