Are you still wasting time reviewing owner statements, collecting rent, and marketing listings alone? You don't have to! Instead, consider hiring a property management company.
Nearly 45% of real estate investors hire property managers. About 80% of property managers coordinate maintenance, collect rent, and advertise. Relying on a full-service company can save you time and money.
Not convinced? Read on for the reasons you should hire a property manager today!
Tenant Screening
The best property management company can market your vacant listings. Otherwise, you'll lose thousands in earnings each month. A detailed strategy can include:
- Cleaning and staging the property
- Hire a real estate photographer
- Optimizing the real estate listing
- Virtual and video tours
- Content creation
- Search engine optimization
- Paid advertising
- Social media marketing
These digital strategies will ensure more Bedford, Texas renters find the property online. You'll generate more applications, opening your tenant pool.
You shouldn't rush to fill vacant units, though. Instead, choose a company that offers tenant screening services. Screening applicants will ensure you select reliable, trustworthy renters.
Completing this process alone can take days or even weeks. The longer it takes, the longer the unit will sit vacant.
Experienced property managers have processes in place for efficiency. They'll ensure accuracy (many reports are inaccurate). They can gather comprehensive reports that include:
- Eviction histories
- Rental histories
- References
- Employment verification
- Credit checks
Your property manager will follow local laws and regulations when selecting renters. Otherwise, bias could lead to legal consequences.
Streamline Collecting Rent
Going door to door to collect rent can become time-consuming. If renters are late, requesting late fees can become stressful. Choose a property management company that offers access to online tenant portals.
Renters can use the tenant portal to automate their rent payments. You can automatically charge late fees without contacting them directly. This will save you time and minimize stressful interactions.
Tenants can use the portal to submit maintenance requests and other inquiries. Your property manager can keep up with these requests on your behalf.
This could improve tenant satisfaction rates. Keeping renters happy can encourage lease renewals.
Eviction Planning
Unfortunately, some tenancies end in eviction. Choose a company that offers an Eviction Guarantee. Their eviction planning services can give you peace of mind.
You won't have to worry about the costs of eviction. Your property manager will handle this process and cover the legal costs. They'll ensure you remain compliant with Texas' eviction rules.
Help With Owner Statements
Owner statements are detailed summaries of the financial activity generated by each property. This includes:
- Rental income paid by tenants
- Maintenance expenses
- Admin costs
- Compliance-related expenses
Your property manager can prepare these statements for you. They'll help you make informed decisions regarding future investments and strategic pricing.
Use a Property Management Service Today
Hiring a property management company can save you time and help you avoid stressful situations. With their help, you can experience success as a property investor. They'll cover everything from owner statements to rent collection.
Trust our team at PMI Metroplex Properties. We have 20 years of industry experience assisting property owners like you.
Leverage our local expertise and state-of-the-art technology. Contact us today to request our services.
