The impact COVID-19 is having on various industries is already profound and, according to some experts, is likely to worsen. At a time like this, financial security and peace of mind are worth paying for, especially when it comes to investment properties.
That’s where Bigham & Associates comes in! With more than 30 years of property management experience, our goal is to help you realize your investment goals, even in this uncertain time.
From finding quality tenants to maintaining your property to handling tenant issues, you can count on us to help maximize your rental income.
In this blog, we are going to look at various ways that we can become a valuable resource for you, even as the world grapples with the Coronavirus pandemic.
Benefits of Having A Property Manager During the Coronavirus Pandemic
1. Knowledge of Rental Laws
There’s an overwhelming amount of federal, state and local laws that govern the landlord-tenant relationship.
It goes without saying that understanding these laws is paramount to running a successful investment. That’s because these laws will help protect you, your property and your tenants.
The following are a couple of laws that professional property managers are well-acquainted with:
- Landlord-Tenant Laws: Every U.S. state has specific landlord-tenant rights. These dictate the basic governing relationship, rights and responsibilities of both parties to the lease.
- The Lead-Disclosure Rule: Lead dust, paint and soil can be toxic. That’s why the law requires that landlords disclose known information about it on all housing units built before 1978.
- Fair Credit Reporting Act: Applicant screening is an effective way of ensuring that you only rent to high-quality tenants. The Fair Credit Reporting Act requires landlords that reject a tenant based on their credit rating to notify those tenants that they have been rejected because of it. Landlords are also required to provide the address of the reporting agency.
- Fair Housing Act: This is perhaps one of the most important laws that landlords need to be aware of. This law makes it illegal for landlords to discriminate against prospective tenants based on 7 basic classes. Overall, it prohibits discrimination against sex, religion, national origin, color, race, familial status or disability.
- Eviction Rules: Every professional property manager knows that they can’t simply kick a tenant out of their property. They are aware of the Texas laws rules and procedures they must follow to evict problematic tenants.
Our team has more than 30 years of experience managing properties in Austin, TX and the surrounding areas. We are not only fully versed in these laws, but we also keep updating ourselves on any changes that are made, as laws are changed frequently.
2. Team of Professionals
As professional property managers, we’ll be able to responsibly manage your property even during the COVID-19 pandemic.
That’s because Bigham & Associates has a team of professionals who are specialists in each area of management. Their goal is to make sure that every aspect of your investment is taken care of constantly.
These specialists typically include the following:
- Professional administrators
- Certified support specialists
- Legal counsellors
- Asset managers
- Office managers
- Real estate agents
- Facilities managers
- Operational expert
Many of these positions require professional designations or additional training and are integral to the success of any investment.
3. Team of Contractors
Hiring us as your property manager also means hiring our team of professional maintenance experts. You’ll have access to both our in-house maintenance staff, as well as our network of insured, bonded and licensed contractors.
For a property owner, this can translate into significant savings compared to hiring a contractor yourself.
At a time like this, you don’t want to worry about going in to fix minor repairs at a tenant’s home. That’s where Bigham & Associates comes in.
4. Peace of Mind
If you have managed a property before, then you likely know that being a landlord isn’t as simple as collecting rent at the start of every month.
You have to know how to advertise your property, screen prospective tenants, solve tenant disputes, respond to late-night maintenance calls, and even evict renters when necessary.
As a self-managing property owner, you’ll have to sacrifice a lot of time to ensure your investment succeeds. If you don’t have the time to sacrifice, or simply value your free time, hiring a property manager is the best solution for you.
Hiring Bigham & Associates means less stress, more freedom, and more time to do things that are more important to you, such as seeking further investment opportunities.
5. Reliable Rent Collection Process
The way rent collection and late payments are handled can mean the difference between success and failure as a landlord. For you to guarantee consistent cash flow, you need your tenants to understand that paying rent is anything but negotiable.
By hiring a property management expert, you help put a buffer between yourself and your tenant. In other words, you allow the property managers to deal with the rent collection issues and, in rare cases, evictions.
At Bigham & Associates, we understand what needs to be done to ensure you get paid on time, every time. When worse come to worst, you can rest assured knowing we are knowledgeable about the Texas eviction laws.
6. Lower Tenant Turnovers
Being a professional property manager, we can help you lower your vacancy cycles significantly. We usually do this in three ways.
Firstly, we improve and prepare the property for rent. Essentially, we’ll fix any issues and improve the appearance of your unit to ensure it’s rent-ready.
Secondly, we’ll help you charge the right rate. We have knowledge of the local market and have access to rental rate tools to help us do this.
Thirdly, we can effectively market your property. We’ll use proven methods to ensure your rental gets as much exposure as possible.
Bigham & Associates has exceptional services and solutions to allow you to rest easy knowing your property is in good hands. Stay home, and let a professional property management company handle the hard work for you.
So, what are you still waiting for? Give us a call at (512)339-8112 and let us do all the heavy lifting.