Marketing your Vacancy
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 rental rate – Too high and you are stuck waiting for a tenant to apply; too 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 to advertise in order to get a larger pool of candidates in a shorter period of time. Lastly, they are familiar with sales and know how to close when they field calls from prospects and show them your home.
Better Tenant Retention
While it’s easy to see the effects of lost rent, there are other equally serious problems with a high tenant turnover rate. The turnover process involves a thorough cleaning, changing the locks, painting the walls and possibly new carpet or small repairs, not to mention all the effort associated with marketing, showing , screening and settling in a new tenant. This is a time-consuming and expensive process that can often be averted by keeping tenants happy and well cared for.
RentPros Property Management has a time-tested tenant retention policy that ensures happy tenants with lengthy stays in your properties. These kinds of programs require a consistent, systematic approach, which is where a Professional Property Management Services shines.
Tighter Rent Collection Process
The way you handle rent collection and late payments can be the difference between success and failure as a landlord. Collecting rent on time every month is the only way to maintain consistent cash-flow. Your tenants need to understand this is not negotiable. By hiring RentPros Property Management, you put a buffer between yourself and the tenant. This allows us to be the bad guy who has to listen to excuses, chase down rent and when necessary, evict the person living in your property.
If you let them, your tenants will walk all over you. They have to be trained to follow every part of the lease contract or deal with the consequences. RentPros Property Management has an advantage because tenants realize that we, unlike the owner, are only doing our job and are obligated to enforce the lease terms. Many property managers will tell you that it is considerably easier to manage other people’s units rather than their own for this reason.
Regarding evictions, there are strict laws concerning the eviction process, and doing it wrong or trying to evict a “professional tenant” can be a MAJOR fiasco. A good property management firm knows the law and has a good process for obtaining the best possible outcome given the circumstances. Never having to handle another eviction can be a compelling reason to consider hiring a property management company.
Assistance with Taxes
RentPros Property Management can help you understand which deductions you can claim, as well as organize the necessary forms and documentation to make those claims. Additionally, the property management fees themselves are also tax deductible. (See your accountant for details and verification)
Lower Maintenance and Repair Costs
Good maintenance and repairs keep tenants happy and preserve the value of your investment which make them a very important part of land-lording. By hiring RentPros Property Management, you gain access to both their in-house maintenance staff, as well as their network of licensed, bonded and insured contractors who have already been vetted for good pricing and quality work. This can translate into significant savings compared to going internet and hiring a handyman yourself. Not only are we able to get volume discounts on the work, we also know the contractors and understand maintenance issues such that they are capable of intelligently supervising the work.
Increase the Value of the Investment
Preventative maintenance is achieved through putting systems in place that catch and deal with maintenance and repair issues early on, before they grow into larger more costly problems. This requires a written maintenance-check program, detailed maintenance documentation and regular maintenance visits. RentPros Property Management can also offer you suggestions and feedback on upgrades and modifications, both how they will affect the rent you can charge, as well as their impact on maintenance and insurance.
Personal Benefits for Owners
• Less stress – Avoid having to deal with middle-of-the-night emergencies, chasing down rent, evicting people from your property, tenants who wreck your property, rental scams, lousy vendors, piles of paperwork.
• More freedom – Live and invest wherever you want without the constraint of needing to be near your properties. Additionally, you can live and travel without the requirement of always being available in the event that your tenants have a need you have to tend to. Once you have Rent Pros Property Management, it doesn’t matter if you live in the same state. Some landlords live in other countries and simply collect their check every month without ever seeing the property.
• Free up more of your time – Time is money and for many investors, their time can be more profitably spent in areas other than servicing their properties. When you focus on asset management, you’re working ON your business. When you manage your own properties, you work IN in your business. Additionally, you have more time to spend with family or friends doing things you enjoy.
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Call Us Today! (916) 789-3500
Hire An Experienced Property Manager
One of the most important aspects of being a successful landlord is to find and place the right tenant. When RentPros recommends a tenant for your home, you can be sure they have passed our rigorous but fair screening process.
We consider The Greater Sacramento Area an excellent place to own investment real estate. We pride ourselves on providing unparalleled service and look for- ward to developing a long-term relationship with you.