3 Ways a Property Management Company Helps Increase Rental Profits
Like any good investment, the benefits of hiring a property management company to help you manage your rental home may not develop instantly. You may see a return on your investment in the first month, or it may take a year.
But ultimately, hiring a property management company WILL allow you to make more money on your property investment.
How a Property Manager Helps You Make More Money
If you are still on the fence about hiring a property management company, consider these five ways that hiring a manager for your property could maximize your investment in the long run (and save your sanity in the short term).
1. Quality maintenance and repairs protect your investment.
When tenants call about a repair, a property management company can respond quickly with just the right expertise. If you are managing your property yourself, you may not have the contacts or expertise to fix the problem. But fixing repairs and keeping up with regular maintenance schedules will keep your property in tip-top shape and will protect your investment in the long run.
2. Offering a professional perspective.
Property management is all we do, so we are professionals at it. We can provide advice on how to update your rental house to attract great tenants. We can also help you stage your property to get the highest rent possible. We know where to advertise to attract the best tenants, and will show up to your property in professional attire.
3. Attract and keep quality tenants who will care for the property.
Attracting tenants who like your property, want to stay there long-term and care for it are all part of a successful renter/tenant relationship. This leads to less turnover, fewer expenses and a continued source of revenue.
Tenants who take pride in their space treat it as such, which means that repair and maintenance costs will be kept low. Quality tenants, plus a company’s ability to maintain the physical condition of the house combine to make an even bigger impact on the property – raising property rates. A property management company can help you be a good neighbor, which is felt throughout a neighborhood when property rates rise for everyone in the community.
Though you may not think of yourself as a business owner just because you have a rental house, you are indeed a business operator. You have to make property ownership a profitable arrangement to justify being in it at all. And in business, profits are made at the margins. Examine all of the methods for saving money and increasing profits on your rental property.
If you see opportunities here for savings, contact EZR Management so we can help you maximize your profit margins.
About Ryan Edwards
Ryan Edwards is the owner and property manager for EZR Management. He founded the company in 2006, building on his years of experience managing and renting properties.