Why A Property Management Company Can Help You Make Money On Investment Properties
One of the best ways to avoid rental property disasters is to partner with a property management company that can not only help protect your property, but can also help you make money on your investment.
High turn-over rates, tenants that don’t pay rent, and damage to apartment units can all be lessened when you have an on-site management team that can help take much of the workload off your hands.
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Keep Good Tenants Longer
Don’t allow your property to start going downhill by signing on the wrong tenants. This is when good tenants move out and property owners are left with vacant units that become harder to fill.
Property managers are skilled at the following tasks which all work together to keep good tenants happy:
- Implement cosmetic improvements to empty units for faster occupancy
- Help you in determining the optimal market rate for your rental properties
- Launch an effective marketing strategy to attract the tenants that pay well, and on time
Proper Tenant Screening
Property management professionals know the right mix of amenities, price, and marketing that are all essential to fill units quicker and keep tenants longer! But, once you’ve made these investments in your rental property, you want tenants that have a good history of paying rent, will not participate in illegal activities on your property, and will respect the condition of both interior and exterior areas.
A large part of making money on investment properties is in screening tenants to find the best fit for your apartment community. Screening tenants goes beyond verifying they have the right employment requirements.
Property managers are experts at verifying rental history, income, criminal records, and credit worthiness. Checking references from past landlords is a large part of a property manager’s job and is one of the best ways to fill your units with tenants that help you make money on your investment properties.
Are you looking for a property management company? Contact Berkshire Hathaway to discuss your options.