Owning real estate can provide a variety of revenue streams for an individual. Whether you are 35 or 75, your duplex, apartment complex or commercial building will create a steady revenue stream that can help you achieve financial security today and in the long-term. Managing a property in Anchorage, however, can be a complex endeavor. How can a property management company help you?
Don’t Worry About Administrative Tasks
A property management company can screen tenants before they move in and collect rent after they move in. When a lease expires, it can either be renewed or terminated without the need for you to take any action. Having a third-party looking after your property can help keep vacancies to a minimum while ensuring that tenants pay rent and adhere to the terms of their leases.
You Don’t Have to Live Close to the Property
Sometimes, your local housing market isn’t the one offering the best value for your money or best return on your investment. With a property management company watching over your home or commercial building, you don’t need to worry about calling a plumber if the toilet breaks or personally dealing with liability issues involving tenants hundreds or thousands of miles away.
Commercial Leases Can Be Extremely Complex
If a tenant has an issue with his or her lease, an Anchorage commercial real estate management professional can look further into the issue. Unlike residential leases, you may not be responsible for maintaining a building or paying property taxes. Your commercial property manager will understand your obligations and that of your tenant under the lease that was signed to occupy the property. In the event that you own a building that is both residential and commercial, you will have someone on your team who can deal with any problems or concerns either tenant may have.
When you buy a property, you want to make as much money with as little stress as possible. By hiring someone else to screen tenants, monitor leases and schedule service calls, you get the benefits of owning property without as many of the potential downfalls.
When Should a Landlord Hire a Property Management Company?, NOLO