Should You Use a Property Management Company for Your Rental Properties?

Rental property is a big investment, and you want your investment to be profitable. That’s why during certain situations it may be in your best interest to hire a Property Management Company (PMC) to manage your rental property. A PMC might be helpful in the following scenarios: if you live a significant distance from your rental, if you have several properties, or if you’d simply like to enjoy the rewards of owning investment property without the headaches of managing it.

Property Management Companies can act as a liaison between you and your tenant. They generally stay current with rental laws and requirements, minimizing the chances you’ll be liable for an unexpected situation.

Specifically, property managers handle duties including:

  • Advertising
  • Leasing
  • Tenant screening and background checks
  • Rent collection
  • Legal proceedings and eviction coordination
  • Maintenance
  • Round-the-clock emergency service
  • Preventive maintenance programs

Does your insurance carrier support your decision to use a Property Management Company? Some carriers offer a discount for landlords who use a Property Management Company.

Not sure what your policy provides? Call us to discuss your coverage and find out more about insurance policies for landlords.

The information in this article does not constitute legal advice. For a complete list of the specific landlord and tenant laws in Ohio, visit http://codes.ohio.gov/orc/5321, or for legal advice, speak with a real estate attorney.

At Hubbard Insurance Agency, we consider ourselves the friendliest insurance agents on the planet. Whether you need a quote for a rental property, homeowners, auto, business or life insurance, we can help! You can contact us by email, phone or by filling out our online form. We will make the process easy for you, and we care!

May 9th, 2016 by Hubbard Insurance Agency