If you are self-managing your investment properties, you are missing out on the many benefits of using a property management company. Professional management teams are highly trained to limit liability, reduce vacancy, and lower costs all without incurring deferred maintenance. The following benefits are how The Management Works can help you.
1. Increase Listing Visibility
Increasing visibility via powerful online tools means less time your unit remains vacant. The Management Works uses software that uploads your listing to dozens of websites to reach a greater number of applicants, which increases the chance of finding an excellent renter. This technology allows us to track inquiries and maximize efficiencies of your advertising budget. Gone are the days of manually uploading listings to sites like Craigslist. The process is now streamlined and automated.
2. Decrease Maintenance Costs
Our software allows residents to submit maintenance requests remotely from anywhere, 24-hours a day. This means no more late-night phone calls about backed-up toilets. It automatically logs maintenance requests and assigns the unit number, allowing you to track and prioritize your maintenance team efficiently. You may access all maintenance records including the dates they were completed. Finally, tracking costs per unit has never been easier because bills and invoices can be posted quickly. This is an important feature if you ever want to understand a certain maintenance job or cost.
3. Online Payments
Today 60% of people use a mobile device to search for apartments. A similar number of people use their devices for online bill pay. By using The Management Works software, we can encourage online payments. Tenants can conveniently pay via e-check and set up autopayments directly from their checking or credit card accounts. Rent payments are collected faster and with more reliability thanks to the built-in security measures. Your residents will love the ease and consistency of this system.
4. Economies of Scale
The Management Works uses project managers to save you money on capital expense projects. Their job is to get you the best vendor for the best price. They accomplish this through vendor management. Since The Management Works orders thousands of dollars’ worth of materials each month, we get large discounts from suppliers. In addition, each vendor is thoroughly vetted, and contracts are rebid each year to take advantage of competitive pricing.
5. Fast Property Reports
Ever wonder how your property is performing? Unless you have accounting experience, it is difficult for owner-managers to prepare their own financial statements. The Management Works provides current financial reports via an owner portal. These are accessible anytime, anywhere and give you a complete picture of, your income and expenses. We strive to be completely transparent. With these reports, you can see how your property is performing.
By using The Management Works team, you will benefit from increased access to technology both for advertising and reporting purposes. You also benefit from the economies of scale and vendor connections of a professional project manager. If you have not considered hiring a property management company to handle your investments, contact The Management Works today to find out how we can help you maximize your investment’s potential.