Whether you have been living in a condo and are interested in moving out or you bought a condo as an investment rental, you may be looking to rent out the property. While this is a responsibility that you can take on without help, you may not be too thrilled to take on the title of landlord.
If you are open to other options, you should hire a property management company because they can provide several valuable advantages that will lead to a better investment experience.
When you purchase a condo, you will be taking ownership of a unit with a homeowner's association, which you will likely need to communicate with at times. For instance, if the community does not allow dogs and a neighbor has one that barks loudly on a regular basis, the HOA will need to be contacted so that they can come up with a solution for the situation.
This kind of process is something that you will get to avoid when you hire a full-service property management company to take care of everything related to the condo. An experienced property manager will know exactly how to communicate effectively with HOA for the greatest results.
In addition to communicating with the HOA on occasion, you will need to follow all the condo rules when working on the unit while also making sure that your tenants follow them. At the same time, you may have your own restrictions regarding smoking and pets, which means you will need to inform a potential tenant early on about what is not allowed when renting the condo.
Fortunately, a property manager should excel in this area because many condo communities have similar rules, which means they will be used to talking about them and enforcing them.
When trying to rent out a single-family home, you can work on the landscape and exterior of the house to boost curb appeal and make it more appealing in listing photos. But, you may own a condo where the outside is not very attractive, which can make it more challenging to attract potential tenants. Fortunately, a property manager will know how to market well in other ways.
These professionals will know how to take excellent photos of the inside and even go around the condo community to capture good-looking photos of amenities to put into the listings.
Hiring a property manager is smart when you own a condo that you want to rent out full-time. Look for a property management company near you.