Individual investors now own almost 14.3 million rental properties across the US. However, many of these investors don't manage their real estate investment properties alone. Instead, they rely on professional property management services.
Outsourcing can save you time and money. You'll also avoid stressful situations while navigating today's competitive market.
Not sure if turnkey property management suits your needs? Read on to discover the benefits of professional rental property solutions today!
Attract Applicants
The longer your real estate investment property sits empty, the more money you'll lose. The US rental vacancy rate is already 6.4%. People are moving away from rental properties as homes become easier to buy.
Your investment property management company can improve and market the listing. This process can include:
- Repairs
- Staging the property
- Taking professional photos
- Creating virtual or video tours
- Optimizing the online listing
- Content creation
- Paid advertising
- Email marketing
- Social media marketing
- In-person tours
Developing an effective property marketing strategy can take time and money. You could waste resources if you lack experience. Instead, outsource to apply effective rental property solutions.
With help from an experienced property manager, you can get your property off the market. You'll earn money from your investments instead of losing more.
Thorough Tenant Screening
Some landlords rush to fill vacant units without thoroughly screening applicants. This can leave you with renters who damage the property or pay late. Instead, rely on professional tenant screening services.
A thorough report should include:
- Criminal background checks
- Employment verification
- References
- Eviction histories
- Rental histories
Relying on professional rental property solutions will save you time and money. Screening multiple applicants alone can drain resources. You may not receive accurate reports using online tools.
Reduce Turnover
The best property management company can retain your best renters. They can use incentives to reduce your turnover rate. These can include:
- Gift cards
- Rental property upgrades
- Referral programs
- Discounts
Retaining renters can save you money on marketing and screening services. Instead, you can keep great renters you already know and trust.
Simplified Rental Property Solutions
The best property management companies use state-of-the-art rental property solutions. For example, they can give renters access to an online portal. Renters can pay rent, review lease documents, and submit maintenance requests online.
Gaining access to this software can help you operate more efficiently.
Maintain Your Real Estate Investment
Your property manager will schedule routine inspections to protect your real estate investment. They'll hire reliable contractors at competitive prices. With their help, you can maintain and improve the property to attract future renters.
Hands-Off Investing
Relying on these property management services will save you time and reduce landlord stress. Instead, you can sit back and relax with peace of mind that your property manager is on the job.
Choose Turnkey Property Management in Akron
Managing an investment property alone can become draining. Instead, rely on professional turnkey property management. With help from an experienced team, you can maximize your profitability with hands-off investing.
Our experts at PMI Cuyahoga Valley RAL are part of a fast-growing property management franchise. We've been perfecting the industry for over 20 years.
Trust our award-winning strategies and state-of-the-art resources. Contact us now for a free rental analysis.
