Increasing your Rental Returns & Upgrading Property
Having a good Property Management company on your side goes a long way in ensuring easy, profitable and stress-free investing. It can bring you hassle-free rentals and maintenance, while optimizing your cash flow and return on investment. Increasing your rental returns is every landlord wishes to achieve the most out of his investment.
- Manage Maintenance: Property Management companies help keep property maintained. They also keep them in good condition so that it conforms to local health regulations and safety codes. This includes responding to tenant requests for repairs and dealing with any emergencies. They schedule regular maintenance, such as cleaning common areas and keeping up the lawn and landscaping, service heating and air conditioning systems regularly, painting and electrical inspections. Managers may bring in plumbers, technicians and other service vendors when needed.
- You will be on your way to success right after having an Experienced Professional Property Manager who takes ownership of your properties Full-maintenance services like Electrical, Plumber, Landscaping, Painting & all other jobs.
- Manage Property Promotions: property management companies can advertise through newspapers, the Internet, and more, to find suitable tenants. This process includes showing the potential tenants around the property, receiving and processing applications, screening, and selecting qualified tenants. In addition, the property management company should research the area to ensure an appropriate rate is sought for rent. Getting an owner premium rentals for the least expenses is one way to really maximize their returns.
A property manager will help you perform three critical tasks that affect how long it takes to fill your vacancies:
- Improve and prepare the property for rent – A property manager will suggest and oversee cosmetic improvements that maximize revenue.
- Determine the best rent rate – Too high and you are stuck waiting. Too low and you’re losing money every month the tenant is in the property. Determining the optimal price requires knowledge of the local market, recent data and access to rental rate tools.
- Effectively market your property – An experienced property management company has written hundreds of ads. It understands what to say and where advertise in order to get a larger pool of candidates in a shorter period of time. Lastly, they are familiar with sales and know how to close the best deal for you.
Personal benefits for owners
- Less stress – Avoid having to deal with middle of the night emergencies, chasing down rent, evicting people from your property, tenants who wreck your property, rental scams, lousy vendors, piles of paperwork.
- More freedom – Live and invest wherever you want with the constraint of needing to be near your properties. Additionally you can live and travel without the requirement of always being available in the event that your tenants have a need you have to tend to. Some landlords live in other countries and simply collect their check every month without ever seeing the property.
- Free up more of your time – Time is money, and for many investors, their time can be more profitably spent in areas other than servicing their properties. When you focus on asset management you’re working ON your business, when you manage your own properties you work IN it. Additionally you have more time to spend with family or friends doing things you enjoy.