3 Property management myths everyone believes (and why they’re completely bogus!)
Let’s face it; fiction is often more fun than fact. But when it comes to choosing a reliable Tampa property management company, it definitely pays to know the difference the myth and the facts. Here are 3 property management myths everyone believes and why they’re completely bogus!
1.) Myth: Property managers are super expensive
Truth: You’d be surprised to learn that you can hire a good Tampa property manager for less than the cost of cable these days! And contrary to popular belief, using a property manager for your Tampa rental property can actually increase net rental income, because they charge market rent and have to ability to attract more qualified residents. Though you should always look through your property management contracts carefully for any hidden fees, you’ll find most costs are covered solely by the rental income with no additional out of pocket costs to you. Best of all property management fees, which on average are 10-15 percent of the rent, are tax deductible! Plus the time you save not having to manage your property directly is truly priceless.
2.) Myth: You have to find a tenant before hiring a property manager
Truth: If you’re choosing to manage your own rental property the task of locating a tenant falls squarely in your lap. For some, this is a time consuming and daunting task that frequently ends up with your Tampa property being vacant longer than it needs to be. Hiring an experienced Tampa property management team takes this task right off your plate, often for no additional cost. They’ll advertise your listings through their extensive advertising networks to get your property viewed by as many potential renters as possible requiring no work on your part. So you can say bye-bye to head hunting!
3.) Myth: They’ll let anyone rent your property
Truth: Once upon a time there were unscrupulous landlords that would take the first renter who walked through the door with cash in hand and give them the keys to your place. Thankfully, times have changed and qualified Tampa Bay property managers run potential renters through an extensive background checks. These background checks include credit, criminal, rental and employment history. The best property management companies in Tampa don’t cut corners on finding the right kind of tenant for your investment property.
So before you close the door on the idea of hiring a Tampa Bay property manager to take care of your real estate investment, do yourself a favor and look past the myths. If you need Tampa property management services for your rental property, please contact the Simply Property Management – Paielli Realty, Inc. Team today! We offer a wide range of property management services to fit your needs as a landlord or home owner and provide personal service to help you achieve your real estate goals!
Simply Property Management – Paielli Realty, Inc.
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