How much time a day do you spend managing your investment properties alone? What if you could sit back, relax, and know they were taken care of instead? Over 50% of landlords don't manage their own properties.
Instead, they outsource to full-service property management companies. With tailored services, you can find peace of mind while avoiding landlord stress.
Not sure if you're ready to outsource? Read on to discover the benefits before making your choice.
Improve Your Vacancy Rate
Imagine your beautiful investment properties sitting vacant, collecting dust. How many thousands of dollars will you lose each month due to vacancies? The rental vacancy rate in America is nearly 6.5%.
The best property managers use digital marketing strategies to draw renters to your vacant properties. A multifaceted strategy will lead to more brand awareness and traffic. Attracting more people to your listings opens your tenant pool.
Your property manager can help by:
- Cleaning and staging the property
- Creating engaging content
- Optimizing your online listings
- Boosting the property value with upgrades
- Creating and managing digital campaigns
You'll have your pick of renters. Otherwise, you may feel pressed to choose the first renters who apply. You could end up with troublesome tenants who cause you stress.
Before that happens, invest in property management services. Improving your occupancy rate can maximize your earning potential.
Thorough Tenant Screening
Remember, you shouldn't select the first renters who apply. A property manager can develop a tenant screening process. They'll review each applicant's rental and eviction history.
You can find reliable renters who can afford to live in your rental property. A thorough assessment will ensure you make an informed choice.
Choosing the do-it-yourself route could leave you with inaccurate information. Outsourcing will give you access to accurate, detailed reports.
Keep Up With Property Maintenance
Neglecting your investment properties will cause them to crumble. Renters may move out or sue if you don't keep up with property maintenance.
A property manager can schedule routine inspections. They'll keep your property in good shape.
They can gather competitive bids from multiple contractors in Lynchburg. You can hire reliable vendors at the best possible prices.
Legal Compliance
Your property manager will ensure you keep up with local, state, and federal laws. Failing to remain compliant can lead to legal consequences. For example, tenants may sue you if you don't provide them with a habitable living space.
Relying on your property manager's expertise will give you peace of mind. You can avoid legal trouble or hefty fines.
Streamline Rent Collection
Choose a property management company that uses state-of-the-art technology. They can streamline operations, including rent collection.
Tenants can automate rent payments, leading to fewer late submissions. If payment is late, you can automate a late fee instead of demanding it in person.
Choose Full-Service Property Management
You don't have to waste time or energy managing your Lynchburg properties alone. Instead, choose full-service property management. An experienced property manager can help you thrive in today's competitive market.
Our team at PMI Lynchburg can offer the support you need. Leverage our 20 years of industry experience and state-of-the-art technology.
Our proven strategies will maximize your earning potential. Contact us today to meet your property manager.
