When you rent without professional property management, you could face costly legal issues, difficult tenants and long vacancy periods. You'll likely also spend a significant amount of time on paperwork and deal with delayed property maintenance. These issues can reduce your cash flow, increase stress and create compliance problems.

1. Tenant Screening Mistakes

When you screen tenants yourself, you may overlook details that put you at risk of late rent, property damage and high turnover. Unreliable renters can also lead to costly evictions. 

Professional property managers implement meticulous screening and have the resources to run thorough background checks, assessing applicants:

• Credit scores
• Income
• Rental history
• References

This helps you find quality tenants who pay on time and take care of your property, while saving you time and effort. 

2. Legal Missteps and Noncompliance

You must abide by your state's landlord-tenant laws. For example, landlords in Pennsylvania are required to follow the Fair Housing Act and provide a 10-day eviction notice for non-payment of rent. Noncompliance risks fines, disputes and legal delays.

Professional property managers understand these regulations. They help you avoid violations and ensure proper documentation, protecting you from costly legal missteps and keeping your rental business compliant.

3. Delayed or Improper Maintenance

When repairs are delayed or done incorrectly, you could face greater damage and unhappy tenants. Partnering with a property management company provides access to vetted contractors who perform preventive maintenance and repairs while staying within your budget. This ensures your property meets habitability standards, protects your return and maintains your reputation. Plus, they handle 24/7 tenant emergencies, so you don't have to.

4. Vacancy and Pricing Errors

Undercharging means that you're losing out on income, whereas charging too much can lead to extended vacancies. Poor marketing and subpar listing photos can also negatively impact your rental's profitability.

A property manager helps you set competitive rent using market data. They also use effective online and offline advertising to attract new tenants quickly, helping you reduce vacancy rates and increase rental income.

5. Time-Consuming Administrative Tasks 

Dealing with tenants, inspections, bookkeeping, and vendors can consume your time and increase the risk of errors. With property management, you can outsource tasks such as bill payment, rent collection and tax filings. Their expert systems protect cash flow, reduce stress and provide tax-ready records. This frees your time to focus on other things while enjoying your rental returns.

Reduce Risk With Harrisburg Property Management Group

For over a decade, Harrisburg Property Management Group has managed more than 2,000 rentals in Central Pennsylvania. We'll help you reduce risk with our marketing and leasing, tenant relations, property maintenance, and accounting and financial services. 

Contact us today to save your time and stress, while maximizing your rental's profitability.