Are you wasting time and money managing your Lafayette investment properties alone? Only 45% of property owners choose the do-it-yourself route. The rest outsource by hiring experienced property managers.
Not sure if you want to hire a property management company? Read on to discover how their experience and expertise will save you time and money!
1. Marketing Help
Imagine your beautiful investment properties sitting vacant for months at a time. How much money will you lose? The rental vacancy rate in the country is already over 6%.
Without renters, you could lose thousands of dollars within a few months. You'll waste time and money marketing the listing or screening applicants.
Call a property management company for marketing help. They can:
- Clean and stage the property
- Update your property listings
- Use digital marketing strategies
Look for a property management company that screens applicants. Tenant screening will ensure you avoid renters who may damage the property or pay late. The best property managers gather comprehensive reports.
They'll review each renter's credit score, criminal background check, and employment. You can choose renters worthy of your trust.
Many property owners rush through the process of vetting renters. Some only focus on financial reports. A thorough screening saves time and saves money long-term.
Otherwise, you'll have to worry about late rent payments, property damage, and other expenses.
2. Legal Help
As a real estate investor, it's your responsibility to keep up with federal, state, and local laws. If you aren't keeping track of updates, you could struggle to remain compliant. You may receive a fine or face legal trouble.
Request legal help from your property management team. Relying on their expertise saves money and helps you avoid stressful situations.
Ask them to draft house rules and termination documents. You'll have an easier time dealing with evictions in the future. Ensure your tenants understand the rules they need to follow to avoid getting evicted.
3. Saves Time
Managing an investment property alone will steal hours from your day. You'll need to worry about:
- Marketing
- Tenant screening
- Inspections
- Maintenance
- Evictions
- Rent collection
Relying on an experienced property manager will save you valuable time. Choose a company that uses state-of-the-art technology to improve efficiency. For example, perhaps they use an online tenant portal to streamline communication and rent collection.
4. Saves Money
Your property managers can schedule maintenance and repairs on your behalf. Neglecting repairs can cause your investment property to lose value.
As a new real estate investor, even the smallest mistakes can cost you thousands of dollars over time. Rely on your property manager's years of industry experience. They'll ensure you use proven strategies to maximize your earning potential.
Hire Your Property Management Company
Stop taking on landlord stress when you can depend on a property manager instead. If these situations sound familiar, hire a property management company immediately. With help, you can maximize your profitability without costly delays.
At PMI Integrity Properties, we use the latest technology and award-winning strategies to support our clients. We can maximize your earning potential by making property management more manageable.
You don't have to juggle these responsibilities alone. Instead, contact us today to discover our property management services.
