Property Management companies are hired to manage commercial and residential real estate investment properties. Their services are highly desirable when the property owner either lives in a different geographical region or does not have the time, skills, or equipment to manage their properties personally.
Property management companies can handle all aspects of the daily operations of managing properties, or they can be hired just for specific responsibilities. Typical areas of expertise by property management companies includes advertising; screening and leasing to qualified tenants; providing owners with comprehensive financial reporting, which can include the vacancy rate, occupancy rate, lease expirations, and upcoming major expenses; routine services such as grounds maintenance, janitorial services, and customer service for tenant issues; emergency response; maintenance and replacement of infrastructure needs, including major equipment; rent collection and eviction; loss and theft prevention; and property preparation for move-ins. They execute the best practices for the highest ROI.
Property management firms specialize in a particular market. They know the rental situation, code regulations, landlord/tenant laws, and the best sub-contractors. Professional property management teams have had extensive training and the experience to execute their responsibilities. They have developed relationships with service providers and enjoy better prices for quality work. Property management professionals are involved in their communities and have fostered positive relationships with city officials, the police and fire departments, and other members of the community.
If you are contemplating using a property management firm to protect your real estate investment and ultimately improve your bottom line, call Triumph Property Management. We are leaders in the greater Las Vegas area. Let us tell you about our services. We can set up a plan that will suit your budget and satisfy your real estate management needs. Let us protect your investment and improve your cash flow.