Why hire a professional property management company?

Ultimately it boils down to two factors: your lifestyle decisions and return on investment. Many owners determine that their time would be more productively and enjoyably spent doing something other than actively managing their rental properties.

Here are some of the ways a property manager can help:
·Research comparables to determine the optimal rental rate for your property.
·Market the property to minimize vacancies and maximize income.
·Screen tenants and protect you from bad prospects and scams
·Maintain the property and handle preventative maintenance to maintain the value of your investment.

For a more complete list of services read "Property Management Services - A Complete List" below.

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Property Management Services - A Complete List

The following is a list of the tasks our property managers commonly perform for owners/landlords.

Evaluate the property and determine an accurate rental rate
·Perform detailed documentation of the interior and exterior including photos
·Offer recommendations on repairs and cosmetic improvements that maximize monthly rent while providing good ROI.
·Gather data on rental rates in the area and work with owners to determine the optimal rental rate. Rent research will vary, but should include looking at the recently rented comparables according to size and type.
·Discuss with owners the pros and cons of different policies such as accepting pets, allowing smoking etc.
·Install a lock box

Market the property for rent
·Prepare home for rent
    oClean home and optimize interior appeal
    oManicure landscaping to increase curb appeal
·Create ads tailored to the property and advertising medium. Some of the mediums commonly used are:
    oPaid and free rental listing websites
    oPrint publications
·Work with other realtors and leasing agents to find a tenant
·Provide a 24-hour hot-line where prospective tenants can listen to detailed information about the property
·Field calls from prospects for questions and viewings
·Meet prospective tenants for showings throughout the week and weekend.
·Provide prospective tenants with rental applications that are legally compliant with fair housing laws
·Collection applications with application fee

Tenant Screening and Selection
·Perform a background check to verify identity, income, credit history, rental history, etc.
·Grade tenant according to pre-defined tenant criteria
·Inform tenants who were turned down

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A competent property manager can add significant value to your investment, which is why many seasoned real estate investors will tell you that a good management company is worth their weight in gold. Here are a few ways that a good property manager earns their keep:

Higher Quality Tenants
Think of tenant screening as the moat and draw bridge around your castle. It is certainly possible to get a bad tenant out of your home once they are in, but it’s a real hassle and you are so much better off never accepting them in the first place. A thorough screening process results in reliable tenants that:
·Pay on time
·Rent longer
·Put less wear and tear on the unit
·Generally cause less problems

An experienced property management company has seen thousands of applications and knows how to quickly dig for the real facts about candidates and analyze that information for warning signs. By allowing a management company to handle the screening, you will also be shielding yourself from rental scams directed at owners, and discrimination lawsuits resulting from an inconsistent screening process. This kind of experience takes time, and insomuch as it means avoiding bad tenants, scams and lawsuits it is arguably one of the most significant benefits a property management company will provide.

Fewer costly and time consuming legal problems
Veteran landlords know it only takes one troublesome tenant to cause significant legal and financial headaches. A good property manager is armed with the knowledge of the latest landlord-tenant laws and will ensure that you are not leaving yourself vulnerable to a potential law suit. Each state and municipality have their own laws, these plus federal law cover a number of areas including but not limited to:
·Tenant screening
·Safety and property conditions of the property
·Lease addendums
·Terminating leases
·Handling security deposits
·Rent collection
Avoiding a single law suit can more than pay for the property management fees, and spare you time and anguish.

Shorter vacancy cycles
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, to low and you’re losing money every month the tenant is in the unit. Determining the optimal price requires knowledge of the local market, data on recently sold comparables, and access to rental rate tools.
·Effectively market your property - An experienced property management company has written hundreds of ads and understands what to say and where advertise in order to get a larger pool of candidates in a shorter period of time. Additionally because of their volume they can usually negotiate cheaper advertising rates both online and offline. Lastly, they are familiar with sales and know how to close when they field calls from prospects and take them on showings.
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Why Hire?

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What Are The Benefits of Using a Property Management Company?

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Property Management Services - A Complete List

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