Owning a rental property on Maui can be a lucrative investment, but it also may require more time and energy than you originally anticipated. However, property management professionals can take care of the day-to-day tasks of being a landlord. Below are a few reasons every landlord should work with a property management company.

The Advantages of Working With a Property Management Company

1. Finding Reliable Tenants

Screening tenants is one of the most important tasks of any landlord, but it can be time-consuming. Not only do you have to advertise the property, you’ll also need to review rental applications and check the backgrounds of prospective tenants.

Property management companies have years of experience and may process hundreds of applications per year. They also know what and who to look for, increasing your chances of finding long-term tenants who will take care of your property.

2. Decreased Vacancy Rates

Every month your property remains vacant is a month you lose money, so it’s essential to find new tenants as quickly as possible. In addition to screening applications, property managers will also know how to advertise your property as quickly as possible.

The best property managers maintain relationships with photographers and have accounts with popular real estate listing sites. With their streamlined processes, they can have your property advertised on all the most popular sites in a matter of days.

3. Satisfied Tenants

If your tenant’s AC goes out in the middle of the night, getting it running again is your responsibility. Unfortunately, finding the right contractor can take several days, during which your tenants will be understandably unhappy.

Most property managers have repair technicians on staff who can handle most basic repairs. They also maintain relationships with a variety of contractors, including roofers, plumbers, and HVAC technicians, often at lower rates than you would get yourself.

For over 40 years, Classic Maui Properties in Pukalani has helped property owners across the island get the most out of their investments. Whether you own a portfolio of properties or just closed on your first rental home, their team will help maximize your profits and minimize headaches. Visit their website for more on their property management services, get tips and advice on Facebook, or call (808) 878-1001 to find out how they can help you succeed.