Independent landlords own over 24 million rental units in the United States. Owning rental properties is a great way to create a long-term source of income. However, you have to keep your properties well-maintained if you want them to make money. Inexperienced rental property owners fail to realize just how much work is involved in maintaining one of these properties.
In most cases, attempting to manage your rental homes/apartments without professional assistance leads to lots of mistakes being made. These mistakes can reduce the amount of income you generate from these investments. Here are some signs you might notice when it is time to hire an experienced property management company.
You Are Having Problems Collecting Rent On Time
One of the most important jobs you have as a landlord is collecting rent from your tenants. Being unable to get this rent on time can result in financial distress and a host of other issues. If you are constantly going back and forth with tenants about late rent payments, then you need to find a way to address these issues. Instead of putting all of your free time into collecting late rent, you need to work with a reputable property management service like RentFix.
With our help, you can collect your rent on time. Most landlords are surprised to learn that RentFix guarantees rent payments every month, even when the property isn’t being rented out. In fact, we are so sure of our ability to collect rent for our clients that we have nearly removed eviction clauses from our contracts.
Finding Quality Tenants Is a Struggle
The only way to keep your rental property investments lucrative is by finding trustworthy tenants and keeping them loyal. The average person has tons of options when it comes to properties for rent in their area. If you fail to set your rental property apart from the competition, it will be extremely difficult to attract the right tenants. Are you having limited to no success finding tenants to rent one of your properties? If you answered yes, then it is time to think about hiring a property management company to help you out.
A property management company will usually run a background check and call the references provided by a potential tenant before approving them. This vetting process allows you to find great tenants to rent your property.
Keep Your Prices Competitive
If you want to make money with your rental property investments, you have to keep your prices competitive. Trying to ask too much for your rental can scare potential tenants away. Rather than dealing with the financial problems, this can cause, you need to think about working with a property management company. Investing in property management services now will allow you to unlock financial rewards in the future.
Now that you know about the benefits of working with a property management service, it’s time to take action. RentFix is here to help you adequately manage your rental properties.