Property owners and landlords understand and appreciate the importance of property value. Value is a function of how something is perceived by others, and tenants are willing to pay higher rent when they perceive property as valuable. Sure, it’s easy to cut corners and ignore certain aspects of property management, but there is a hefty price to pay when the perceived value—and hence the actual value—of the property value declines. Moreover, reliable and respectful tenant become more difficult to find and retain. Eventually, you end up with lower-quality tenants, less rental income, and reduced market value for the property. For these reasons, retaining your property’s value should be a top priority.
Perhaps you have an abundance of free time and expertise in all aspects of property management; if so, then you may be well positioned to handle the complex task of managing your property. However, chances are that you don’t have the time and the years of in-field experience needed to address the wide variety of tasks, which include screening tenants, handling complaints, internal and external property maintenance, and collection of rent (including late payments and nonpayment), just to give you a partial list. Putting these responsibilities in the hands of a capable property management company is not only a time saver, but it can have an enormously positive impact on the value of your property.
Something as seemingly basic as lawn maintenance can have a profound effect on property value. Consider the fact that visitors, including prospective tenants, will see a property’s front lawn prior to stepping inside the premises. If a lawn is brown or overgrown, this can cast a negative light on the property as well as the reputation of the owner. These factors weigh heavily upon the perceived value of the property.
Retaining a property’s value depends on a very large number of factors. Unless you have expertise in all of these factors, you’ll need a team on your side to make sure that your property can maintain—or better yet, enhance—its value. You get the full range of services from our team at Access Property Management, so why not give us a call today at (705) 773-3029?