When choosing a management company for your rental, you with have the option of choosing a local property management company, or a large nationwide realtor. Which is best for you? Here are 10 things a local manager can do that a large nationwide chain cannot.
First things first, bigger is not always better. Read that again – bigger is not always better. All too often, we find ourselves getting excited over the latest release or idea of a major corporation and tend to overlook the little guy. Truth is, that little guy is hungry. He is working to make something big. He has the drive to work hard for his success. And his results show it.
There is no hiding the fact that Zillow is trying to enter the field of property management with its new Zillow Rent Manager program. Truth is, Zillow has been successful at listing properties for sale around the country – but there are some things that major players in the game just can’t do as well as the little guy.
In fact, here are 10 things that local property management will do that a nationwide realtor can’t.
1. Local Property Managers Know Their Market Personally
Local property management companies often have extensive knowledge of their home area. They know the trends and the communities which give them the best guidance for setting rental rates and marketing to the right future tenants.
Nationwide realtors may be well-versed in the process from a larger scale, they aren’t going to have an in-depth knowledge of an area like the locals do.
2. Local Managers Bring a Human Connection
Human connection is important. Would you rent your property without ever talking to a tenant? Nationwide realtors will not be there to interview potential tenants.
You can learn a lot about someone just by having a conversation face-to-face. When it comes to screening tenants, sometimes engaging can help you make your decision. Of course, should you choose to rent your property to someone, you want them to feel like they have a good understanding of who they are renting from, as well.
It doesn’t matter how technologically advanced we get in this world; human connection is vital.
3. Local Property Management Thoroughly Screens Applicants
Nationwide realtors, like Zillow, have a lot of fancy software programs that can do some savvy things – including tenant screening. But do you know what a local property manager can do?
Local property management companies have access to major tenant screening platforms. Instead of relying solely upon the computer-based outcome, they also have an expertly trained eye to look for scams and deceit. You will find that these managers are better equipped with experience and technology to find high-quality tenants for your property.
4. Local Property Managers Handle Rent Collection – Especially from Renters Who Don’t Pay
When your renters aren’t paying their rent, will a nationwide realtor make phone calls or knock on the door of your rental property? Not at all. This would be left up to you to handle. As a landlord looking for help, you won’t find it.
Local property managers have a detailed process down for rent collection and dealing with renters who are late or not paying at all. And, as the landlord, you won’t have to worry about it.
5. Local Managers Will Follow Through with the Eviction Process When Necessary
When those renters reach a point when they are facing eviction, local property managers will follow through with the eviction process and see it through all the necessary legal actions without you having to lift a finger.
Eviction services are not something that is generally handled by nationwide realtors.
6. Local Property Management Know the Laws of their State and Community
When you are dealing with rental properties and housing, there are many laws that you have to abide by, such as Federal Fair Housing laws as well as state and local landlord-tenant laws and the like. Because of what could happen if you don’t, you always want to make sure you are following the law 100% of the time.
Local property management is well-versed in federal, state, and local laws. You can rest easy knowing that you won’t find yourself in any legal hot water. And, if you ever have any questions, you always have a go-to source for information.
7. Local Property Managers Offer Landlords Clear, Affordable Rates
Nationwide realtors often have hidden fees or unclear terms. With a local property manager, such as Real Property Management Evolve, the fees are very transparent. You always know what you are to pay and the services you are paying for.
8. Local Managers Handle Showings and Walk-Throughs
Zillow Property Management is not going to show up at your rental property and handle your showings or walk-throughs. It just doesn’t work that way with nationwide realtors. If you don’t mind doing them yourself, then that’s fine. But, if you are looking for a manager to handle your rental property – and everything that comes with it – that means handling showings, walk-throughs, and inspections.
This is where a local property manager comes in.
9. Local Management Companies Handle Repairs and Routine Maintenance
Your rental property is sure to need routine maintenance and even emergency repairs. Getting these things taken care of in a timely manner can help in tenant retention – and lower vacancy rates. Local property managers have trusted relationships with local vendors and service techs in the area to handle any need that arises in an efficient, proper manner.
The best property managers in Phoenix often get significant discounts with maintenance vendors based on the relationships built over time. This simply doesn’t exist as an opportunity with nationwide property management companies.
10. Local Property Managers Don’t Require the Landlord to Do Anything
Nationwide realtors may offer a service for landlords, but they don’t take over the job of a landlord. If you are looking for someone to thoroughly manage your properties so you can focus on other things, then you need a local property manager.
You won’t have to do anything because your property manager will handle everything from marketing the property to tenant screening, leasing, rent collection, and so much more.
It is easy to get swayed by big companies – with the thought that they are so big because they do things better. At Real Property Management Evolve, we know that Zillow is a great platform, but we also know that for detailed service and effective property management, you need a local property management company. Experience the difference. Give our team a call today!