According to ManpowerGroup, the current U.S. labor shortage is around 75%.
Landlords should treat their investments like businesses. They need to step back and ask if they need help. Recognizing this is the first step towards more profit and a smoother investment experience.
Read on to learn the key signs you need landlord rescue services in Salt Lake City.
You're Overwhelmed by Landlord Challenges
Being a landlord comes with a long to-do list, including:
- Marketing
- Property maintenance
- Tenant complaints
Handling it all can start to feel like juggling knives. Disaster's around the bend if you drop even one. Do daily landlord challenges overwhelm you? Are they not getting solved as well as they could? That's when they serve as signs you need property management.
Having a property manager saves you time and effort. They know how to handle all landlord challenges effectively and efficiently.
This will also reduce your stress. The time and effort you would have spent managing the property can be used for other passions. You'll be free to focus more on your family, a hobby, or another source of income.
Your Vacancy Rates Are High
A LendingTree survey found that Salt Lake City has historically low vacancy rates at 4.88%. It's one of the only cities with a rate under 5%.
Fighting against vacancies remains challenging for any landlord, even in the best locations. High vacancy rates are one of the clearest signs you need property management. They're an easy problem to fall into but not an inevitable one with the right help.
A property manager knows how to attract tenants in the local market. They'll price your property effectively and use effective marketing strategies.
They'll also help you keep your properties occupied for longer. Proper screening ensures you only get tenants who are in it for the long haul. A manager can also help encourage high-value tenants to renew their leases.
You're Not Familiar with Property Laws
Legal help is an underrated but essential part of landlord rescue services. Managing rental properties comes with a long list of laws to obey. They surround areas such as:
- Fair housing
- Habitability standards
- Security deposits
- Privacy
- Repairs
- Leases
- Evictions
- Taxes
It's too risky to try running your business alone unless you know all these regulations by heart. Fortunately, you don't have to.
When you hire a property manager, you also get a legal expert. They'll keep you compliant to avoid penalties that hurt your reputation and bottom line.
Secure Your Peace of Mind with Landlord Rescue
Signs that you should consider hiring landlord rescue services include daily overwhelm, high vacancy rates, and unfamiliarity with local laws.
Wheelers & Associates has over 50 years of experience in the industry. We only use professional local vendors, many of whom have worked with us for decades. This saves you time and money on repairs. We take our time and use the latest technology to showcase your property as often as possible and find the best tenants.
Let us make your investment experience more manageable and profitable. Contact us for property management in Salt Lake City today.
