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How to Determine if You Need a Property Management Company for Your Rental Homes

February 25, 2022

Are you considering hiring a property management company to oversee your rental properties? Some first-time rental property owners spread themselves too thin trying to keep up with their management responsibilities. Property management companies might seem pricy, but they can actually save you money in the long run!  

What Is a Property Management Company? 

A property management company is a third party that you hire to manage your property for you. They can  

  • advertise and market your property 
  • interview and screen potential tenants 
  • handle leases (create new leases, evict tenants not following their lease agreements, etc.) 
  • collect rent on your behalf 
  • fulfill property maintenance.  

Why You Need a Property Management Company  

If you just recently bought a rental property or are struggling to keep up managing your own properties, you may want to consider hiring a property management company. Property management companies can be super helpful if you own a lot of property and rental units, or you don’t live near your rental properties. Maybe you bought rental property as an investment to earn passive income and you don’t want to do the management tasks yourself.  

Your time is valuable and you may not have the time to manage your property yourself. Or, if you are managing it yourself and are struggling to keep up with it, a property management team can help pick up some of the work.  

Property management companies handle their own employees, so you don’t have to worry about hiring employees, dealing with payroll, or other legal requirements. Property management companies often have their own maintenance crews or have deals with local companies to get quick discounted services. An independent landlord might have difficulties keeping up with maintenance requests in a timely manner, especially if they have their own job and other responsibilities. A property management company is there so you don’t have to worry about your tenants receiving the best service.  

Why Property Management Companies Are Valuable 

Property management companies can be a valuable asset in keeping up your rental properties. They help you earn the most revenue for your money. Hiring a property management company will save you time and money in the long run. Even though you have to pay for a management company, they can help you to retain more tenants and earn more money overall. They are knowledgeable about the market and how much rentals and competitors lease for, and they can charge rent accordingly.  

These management companies can help you fill your vacancies quicker because they are more experienced with the process and can move more efficiently. Because they often have their own maintenance crews, tenants are left happier because they don’t have to wait for their issues to be solved. 

Tenants tend to be happier when dealing with property management companies because they are given more attention and their needs are taken care of quickly. Management companies stay knowledgeable on landlord-tenant laws so you don’t have to worry about it. This is better for the reputation of your property. A good property management company works professionally and places the needs of the tenants first. You want your property to have good tenant retention because other potential tenants will hear about the property and want to live there.  

Why You Should Hire MMC Properties 

MMC Properties is the largest property management firm in Rutherford County, Tennessee. We supervise about 3,000 units in the area. MMC stays local to Smyrna, Murfreesboro, La Vergne, and Southeast Nashville, so all of our attention is focused on the area.  

The experts at MMC Properties are professionally-trained with decades of experience in real estate and residential management. If you own an investment property with the intention of renting, call (615) 849-9006 to speak with an MMC Properties staff member today.