Owning rental property can be very profitable. However, it can also be an extremely risky investment for those without professional management assistance. On-call maintenance can be inconvenient and time-consuming. It can be a full-time job just staying on top of the latest Landlord-Tenant and Fair Housing laws. Without satisfied tenants, vacancies can erode profit margins in a mere matter of months.
An excellent property management company offerS:
- Fair and competitive management rates
- A team of qualified professionals dedicated to your investment property needs
- Extensive knowledge of area rents so that they can help you determine a rental rate that will return you top dollar on your investment, while still remaining competitive
- Extensive marketing exposure that a property requires to quickly secure a qualified tenant.
Effective online marketing will give your property possible exposure to millions of people! Good Property Management company also has off-line marketing methods that target those who may not regularly use the Internet or who are not searching online for their next rental. Available properties can be featured on their website Rental Listings. Rental Properties advertisement can be placed on Craigs List, Philly Inquirer, Daily News, Northeast Times, Spanish Yellow Pages, and Rent.com, which receives thousands of unique visitors each month. The majority of visitors to their Website are actively looking for a new home to rent.
Performing as many showings as necessary to prospective tenants in order to lease your property
Tenant verification, including credit and criminal checks. Look for these important characteristics:
- Extensive knowledge and adherence to Fair Housing laws, lead paint laws, local and state regulations, etc.
- Lease and contract negotiation favorable to the property owner
- Access to professionals that handle every need for the home -- at favorable prices.
- In-house maintenance team is experienced in most of the needs of a rental property
- We perform property inspections before, during and after a tenancy. Routine property inspections are scheduled at least every 180 days.
- Comprehensive monthly financial reports, a year-end income and expense statement, and 1099 form.
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