Property Management is Back to Normal


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Property Management is Back to Normal

2014 was a good year from many points of view. Many industries have seen a real surge in profits which was complemented by a growth in capital and in total number of investments. The property management industry is no exception from the rule. This industry has seen an astounding growth of over 2.1 percent all year round, with an increase of up to 3.5 percent in the last trimester.

“Innovation distinguishes between a leader and a follower.” ~Steve Jobs

Hence, 2015 promises to be a strong year, especially for property management firms who have been struggling to survive since 2007 when the crisis hit the economy.

Property Management Comes to the Fore

All economic real estate property management agents are slowly coming to realize that we live in a society where jobs are chasing people, not vice versa. Not surprisingly, three of the top cities when it comes to the real estate market are Houston, Dallas and Austin, all three of them located in the state of Texas, the most “crowded” state in the US.

The truth is that when everything goes smooth with an investment property, it is extremely easy to forget about your property management needs. However, when things go wrong, you slowly realize the need for hiring an experienced property manager. If you study a list with the top 10 real estate property management companies you realize that there are many options available for you. Property management firms have extensive knowledge of tenants’ and landlords’ right, so they know how to deal with each unexpected situation.

The good news is that the monthly cost of property management services has decreased in 2014 thanks to the huge number of property management companies that have gone mainstream. You can now choose the right property management company for your needs without breaking your budget.

Monthly Cost of Property Management

If you are thinking of hiring a property management company, there are a few questions you should ask yourself:

– How much can I get for rent? – A good property management firm can help you get up to 20% from your tenants by making your property look more livable and appealing.

How much can I expect to pay for a property manager? – it all depends on the quality of the services offered, experience, expertise and additional services. Expect to pay up to $300 on a monthly basis for maintenance, decluttering, restoration and promotion.

The Bottom Line

If you want to rent your property, choosing a professional and experienced property management firm is one of the best decisions you can make. Choose well and you will certainly be rewarded.

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