Whether you own one rental property or 10, there is a lot more that goes into this job than just collecting rent every month. Tenant servicing is an industry that works to help make a property owner's life easier by being the middle-man between them and the renters. There are many benefits to hiring on these services, but here are just a quick seven to start.
- They find tenants. If you don't have anyone renting the property, then you are losing money. It's important to not only make sure that there are renters in your properties, but that they are good tenants who will pay the rent. When you employ tenant services, they do the finding and vetting of the good prospects.
- They collect money. Just because you have renters doesn't mean they actually pay the rent. Having a middle man in charge of collection means that they take care of making sure you get your money every month. Since they are a middle party, it is also helpful because you don't have to listen to all of the excuses, which can be difficult to deal with.
- They deal with problems. Life happens and things break. If you own a rental property, you know that you have to do repairs and have maintenance done. When things go wrong in the house, the renters have to call someone, so they call the tenant services and they deal with getting everything corrected.
- They are local. Not every property owner lives within a reasonable distance from their rental properties. Instead of taking frequent trips to make sure the rental property is still looking good and being taken care of, it's helpful to have a tenant services company who can check on things for you.
- They have lawyers. Evictions, thefts, and breaking leases happens all the time in the rental world. As the owner, it can get very expensive paying legal fees. Tenant services often have a lawyer on board who can help consult in cases and be brought on if necessary.
- They can save you money and time. Since tenant services make a living in maintenance and property care, they know the best contractors to get for the right jobs. Since they are often over several different properties, they can usually get rates that are better too. Another benefit of doing this all day is they know the right process to take in most situations, making repairs more efficient for all parties involved.
- They have a team. When it comes right down to it, tenant services like Two Rivers Investment are going to have a lot more people to get jobs done, whereas you are only one person. More people to help work means the job is done faster, so you can focus on just living your life.