How many of your beautiful investment properties are sitting vacant? Good news: the rental vacancy rate could decrease from 6% to below 4% by 2025.
Unfortunately, that means other landlords will grab renters before you get the chance. With full-service property management, you can gain a competitive advantage. After all, most landlords don't manage their own properties.
Not sure if you need to hire a property manager? Read on for reasons you should use their services!
Property Marketing
There are now over 48.2 million individual rental properties in the US. Without a property marketing strategy, your properties won't attract renters.
The best property management company will help you develop a multifaceted marketing strategy. They'll use both digital and traditional to expand each rental property's visibility. These tactics can include:
- Print advertising
- Digital advertising
- Search engine optimization
- Social media marketing
- Video marketing
- Email marketing
Your property manager can offer recommendations to help you improve the property. You can invest in upgrades that will boost the property value. These upgrades can make the property more enticing to renters.
You can clean and stage the property before hiring a professional photographer. Beautiful, detailed images will ensure the listing generates more traffic.
Your property manager can make informed improvements to the listing to make it more enticing. Otherwise, you'll miss the chance to generate applications.
Tenant Screening
After receiving a tenant's application, you should run a thorough background check. Unfortunately, many reports include inaccurate information. Some landlords rush through this process and miss red flags.
Your property manager's tenant screening services will save you valuable time. They'll help you find ideal renters you can trust. Choosing trustworthy renters can help you avoid landlord stress in the future.
Lease Renewals
Generating more lease renewals will improve your rental occupancy rate. Otherwise, a high vacancy rate will affect your earning potential.
A property manager can boost tenant satisfaction rates by remaining available to offer help as needed. Your current renters will want to stay long-term. They may even recommend your rental properties to friends or family members.
Rent Collection
Choose a property management company that uses state-of-the-art technology to streamline processes. They can simplify rent collection using an online tenant portal.
Tenants can pay online. You won't have to worry about stressful interactions in person. You can even charge late fees.
Rental Property Maintenance
Neglecting property maintenance could cost you renters. They may leave or take legal action. Your property manager can schedule routine rental property inspections.
Regular property maintenance will allow you to protect your investment. Maintaining a beautiful property can make finding new tenants easier.
Invest in Full-Service Property Management
You don't have to handle the stresses of owning and managing property alone. Instead, hire a full-service property management company. Their range of professional services will save you time, money, and future stress.
PMI Empire Solutions utilizes state-of-the-art technology to benefit property owners and tenants. We have 20 years of industry experience helping owners maximize their profitability.
Leverage our experience and expertise. Contact us today to request our property management services.
