The ABCs of Getting a Mortgage Loan for First-Timers

Posted on: 5 December 2019

Are you unsure about whether or not to take on the responsibility of being a small landlord? For many potential rental unit owners, the idea of having to deal with emotionally charged tenants, legal difficulties, or various tradespeople on a regular basis is overwhelming. 

But one easy way to make the experience much simpler and much less stressful is to hire a property management company like Association Management & Services to handle many of these unwanted interactions. In what sort of situations can a property manager serve as the go-between you need? Here are just five common situations.

1. Tenant Issues 

Some tenants are easy to work with, but many can be stressful. If you're afraid of having to manage demanding or unhappy tenants, as well as threats or nagging by renters, a property manager can take your place. Professional managers are used to handling such situations and can defuse things when possible.

2. Unpaid Rent 

What if a renter doesn't pay what they owe each month? If confrontation is something you avoid, a shy landlord could end up with a real financial problem on their hands. Experienced managers, though, have dealt with this many times before. They know the rules, how to approach unpaid rent issues, and when to take firmer action.

3. Arranging Vendors 

The contact list of a property management service is already stocked full of quality vendors that they have vetted. No matter what repair, maintenance, or upgrading issue your unit has, the service is likely already familiar with a good vendor to handle it for you. This saves a lot of time and effort to screen your own new vendors.

4. Screening Tenants 

Want to avoid problem tenants? Then let a professional handle the screening and application process. You don't have to disappoint anyone or risk angry applicants. And you get the benefit of not only an established screening process but also the experience of someone who has been working with renters for a long time. 

5. Legal Matters 

One of the most complicated parts of being a landlord is navigating the legal system when you need to evict a tenant or get reimbursed for damages. But does the thought of taking on legal matters yourself scare you? If so, rest assured that the property manager knows how this all works. They will know the steps you must take, when to take things to the next level, and how to move forward after a judgment.

Having a go-between in which of these situations would help you the most? No matter what stresses you out about becoming a landlord, a good property management company will help you overcome it and build your profit year after year.