While hiring a property management company is a significant investment for rental property owners, it is an essential one. In today’s competitive rental market, a seasoned property management company will help you derive the most out of your investment by determining rental value, increasing tenant retention, and coordinating maintenance.
Beyond this, a property management company helps you maintain a timely, personable, and positive tenant-to-landlord experience.
1. Determine Optimal Rental Value
If you are new to the rental market and looking to determine the optimal value, a property management company can help you. With direct access to the market, a property management company is going to know precisely what to charge to attract high-quality tenants to your building without overcharging or undercharging.
If the goal is to get the property leased out as quickly as possible, at the best and highest possible price to get money coming in, then a property management company is the way to go. You won’t have to worry about undercharging and creating cash flow problems or overcharging and losing out on excellent tenants.
2. Retaining & Obtaining High-Value Tenants
One of the best ways to ensure a consistent return on your investment is to secure high-quality, long-term tenants. By letting a property management company match your rental with the right tenants, sets you up for fewer long-term problems and fewer irregularities in cash flow.
With this said, here at Kanga Property Management, we understand how critical the last 120 days are in the leasing contract between you and your tenants. To boost retention rates, we draw up new lease agreements, discuss rent increases, and talk with the tenant about their experience. We coordinate with them to create a positive experience, so that if they do decide to move on, key retrieval, forwarding addresses, and move-out instructions are hassle-free.
If there is a need to bring in a new tenant, we inspect the property and take hundreds of photographs to prepare an itemized repair list. If repairs are needed, they are coordinated and finished in a timely fashion, and then all listings of your property online are updated. We field phone calls, schedule tenant showings, answer potential tenant questions, and aid in the rental application.
Once applications come in for a new tenant, we do a comprehensive background check and run them through a rigorous screening process. Once approved, the security deposit is collected, a lease is drawn up, and your new tenant is secured.
3. Providing Property Maintenance & Repairs
Before taking on any new tenants, we ensure that repairs are completed before move-in. All the heavy lifting needed to coordinate repairs is done by us, which means contractors are hired, recommendations are taken, and estimates are secured.
Beyond this, maintenance requests are taken on in a timely fashion with little to no disruption to you or your tenants.
Wrapping It Up
In today’s competitive rental market, a property management company is critical for helping you go above and beyond in the experience you offer your tenants.
Our rigorous screening process, high-quality tenants, and exceptional maintenance and repairs will help you maintain and protect your investment. After all, it takes more than just collecting rent and drawing up leases to foster a positive tenant-landlord relationship.