5 Reasons You Need A Property Manager
Investing in real estate can be highly profitable. In Miami, there are plenty of commercial and multifamily properties available for investment. Often, investors have an extensive portfolio of properties across various cities and states. It can be challenging and time-consuming for the investor to be involved with the day-to-day maintenance and overseeing of all their properties. Fortunately, there is an easy solution to this problem. The answer is hiring a property manager in Miami, like JMK Property Investment. A property management company does everything from managing tenants and leases to creating monthly and annual financial reports. If you are a property owner and feeling overwhelmed with the daily upkeep of your properties, it’s time to partner with a local property management company.
First, a property manager will help manage the tenants at your building. At JMK Property Investment, our goal is to keep your building as close to 100% occupied as possible. Whether you are renting out commercial space or apartments in a multifamily building, we can help with the tenant acquisition process. We work to bring in new tenants to fill the empty spaces in your building through targeted marketing strategies. We do thorough background checks on all tenants to make sure they will be high-quality renters.
As for your current tenants, we make sure that they are happy so that they want to stay and renew their leases. For example, at our multifamily properties, we provide tenants with an emergency help number they can call 24 hours a day. If their apartment floods in the middle of the night, we are there to answer their call and send someone out right away to make the repair.
A property manager is also available to take tenant requests and complaints of any nature. Whether a tenant makes a maintenance request or has a complaint about a noisy neighbor, we are there to help.
As a property owner, taking tenant management off of your plate can be a huge relief! Instead of worrying about acquiring new tenants and managing current tenant relationships, leave those tasks to us! You can spend more time focusing on your investments and turning a profit.
Oversee Maintenance & Repairs
A property management company also oversees maintenance and repairs. Your management company will have a detailed annual maintenance schedule for the property, including HVAC checks, gutter cleanings, etc. The management company will ensure that all the proper maintenance is done, which helps save money in the long run by preventing more extensive repairs. JMK Property Investment has relationships with many different contractors and can get you the best prices for maintenance and repair work. Through an annual bidding process, we make sure prices stay low and competitive amongst the contractors we work with. By working with a property management company, investors save a lot of money on repairs and maintenance.
Property managers can help with lease administration and rent collection at both commercial and multifamily properties. We work with you to create standard leases for tenants with all the necessary legal language and addendums. Once the leases are signed, we make sure the tenants are keeping up with their rent payments. Collecting rent on time is one of the highest priorities for JMK Property Investment. As rent comes in, we manage cash receipts, invoices, and payment processing to ensure the earnings are distributed efficiently. We also handle tenants who are late on their rent payment via follow-up phone calls or visits. If the tenants still refuse to pay rent, we can take legal action with the property owner’s permission.
Financial Reporting Services
When it comes to property investments, financial reporting is essential; it shows how profitable a property is and can guide future investment decisions. Instead of figuring out financial statements on your own or hiring an outside accountant, leave it to your property management company. At JMK Property Investment, we use state-of-the-art property management software to provide investors with valuable financial information. Each month we create an operating report containing a narrative, income and expense statement, balance sheet, tenant information, and more! The reports are well organized and easy to read so that investors can see the financially strong and weak spots and make appropriate decisions and changes. We can further customize our reporting to meet your unique needs as a property owner.
Shift Your Focus
Perhaps the best reason to hire a property manager is to allow you as the property owner/investor to shift your focus from the mundane, day-to-day tasks to the bigger picture goals. No more worrying about a flooded bathroom, HVAC repair, late rent, or marketing to acquire new tenants. Instead, you can focus on making your investment property even more profitable. You can even spend time seeking out new investment properties to add to your portfolio. In the long run, this helps investors to be more profitable and to stress less about their properties!
Trust JMK Property Investment as Your Property Manager in Miami
If you are considering working with a property manager in Miami, JMK Property Investor is the perfect option. We have experience managing many different types of properties. Client satisfaction is our primary goal, and it guides us in everything we do. This client testimonial says it all: “JMK exceeds all expectations in both customer service and results.” Another client states: “Their work allowed me to focus on the other aspects of investing.” Let us help you shift your focus from daily property management to higher-level investing. For more information about our property management services and how we can help you, contact JMK Property Investment today for a free consultation.