A property management company helps you make profits out of the property, which you have. They are market players and know the movements of the market deeply. The property owners get overwhelmed with the property pricing. They are not aware of the fact that the pricing may get fluctuate from time to time. They may not know when to buy or sell the property. It is a smart decision to hire the best property management in Dublin so that you can focus on other important tasks. Let’s discuss the pros and cons of hiring these companies.
Pros of hiring a property management company
- Finding tenants and buyers- The major reason why people hire these companies is that it is easier to find tenants for the property, which is listed under ‘To let’. Apart from that, the company also finds the buyer if you want to sell your property. They handle all the marketing efforts and place the ads on various websites, newspapers and magazines. They also respond to all these ads and short-list of the tenants and buyers who meet your requirements.
- Establish good relations- The companies canassist the clients to establishgood relations with buyers and tenants. If you are busy with your business or in your professional life, they can speak to them on your behalf and answer all their queries. They can also listen to their complaints and forward them to you. The company also looks after the property and handles repair and maintenance work.
- Compliance with laws- A property management company is well-informed about the laws that are laid down for the real estate industry. Every buying, selling, leasing and renting your property will be compliant as per these laws and regulations.
- Networking- It should be noted thatthese companies are connected with other similar companies. This way, it becomes easy for you to find the right kind of buyer for your property. Moreover, they also know experts from other fields such as electricians, carpenters, contractors and plumbers. If you need to get any repair work done, they can refer you to them making things much simpler for you.
Demerits of hiring a property management company
- Cost to hire a company- The prime demerit of hiring a property management company is the cost. Some of them work on a commission basis while others may ask for a fixed amount as fees. Sometimes, you may feel that you are paying more money than your expectations. Many people don’t hire a company because they feel that it will cut off from the profits which they will make either selling or renting.
- Level of services are unpredictable- In the worst-case scenario, the property management company may not give you after-sale support as mentioned in the agreement. What can you do? You might have to sue the company for not delivering the desired results. It can be an additional burden on you mentally and financially.
- Not reachable- You might find out that the company, which you have hired, is not reachable through the phone most of the time. The buyers and tenants do not get responses on time and they move to another property management company. This way, you may lose prospects if you trust the company completely. It is highly recommended to stay in touch with them and get regular updates.
Before hiring any company, it is strongly recommended to carefully watch the services. The internet is the best place to go through the reviews of the company. Likewise, you can also read the ratings on various review sites and choose the most suitable one.