Collecting rent is one of the biggest challenges when owning investment properties. While most tenants pay their rent on time every month, you'll always have a tenant who can never seem to get the rent check to you when it's due. This dynamic has shifted even more dramatically in the wake of COVID-19.
If you have more than one investment property, that problem multiplies! Chasing down late rent payments is time-consuming, frustrating, and in some situations, downright impossible when travel restrictions are in effect. You probably got into real estate investing because it's supposed to be a passive form of long-term income, right? Is it worth the headache of managing rent collection when you have renters who were dodging payments before a crisis?
We believe real estate investing is absolutely worth it—despite the headaches! We also know that late rent payments aren't the only things that cause frustrations for property owners. Still, there's no reason to let small setbacks keep you from providing an excellent rental property for your residents to call home!
The right management services handle the headaches of investing for our property owners. With the right provider, you'll soon find that you agree with us: real estate income is worth it! Here's how an El Paso property manager can take on the frustrations while you watch your long-term wealth grow.
The Rent Is On Time
If you're still collecting paper checks or running credit cards manually every month, it's no wonder your rent collection process is frustrating and time-consuming. Today's renters prefer not to write checks, so how can property owners collect the rent?
Our online rent collection system makes it easier for tenants and property owners to manage the monthly rent process. Tenants don't have to struggle to pay your rent on time; property owners don't have to wonder when the rent will arrive!
Applying an online payment system:
- Helps tenants manage their rent payments: Renters can pay your rent manually each month or by setting an automatic payment. Property owners no longer have to run a credit or debit card manually. They can check their accounts and make sure payments are up-to-date. If they're out of town when the rent is due, they can schedule a payment.
- Makes you a 'green' property owner: An online payment system eliminates paper checks and receipts.
- Means owners get paid quicker: Online transactions mean we can pay our owners quicker. As soon as the bank processes rental payments, we can deposit your income right away.
Did you catch that? Our property owners get an automatic deposit after we collect the rent each month. That relieves a significant headache for many real estate investors who struggle to collect the rent and benefit from the income every month! In the event that you can't leave your home to collect rent, this means you still get paid regardless.
Rent collection isn't the only headache we can relieve. Your tenants pay rent to live in a safe, comfortable home. Making sure that happens requires a commitment to maintenance excellence.
Property Maintenance Happens Year-Round
Full-service property management includes year-round maintenance that keeps your properties in excellent condition and your tenants happy.
Poor maintenance services are one of the top reasons why tenants don't renew a lease. We know property owners deal with plenty of headaches when it comes to keeping properties in good condition. It's also frustrating for tenants to deal with ongoing issues or feel like their maintenance requests are never heard or resolved. Even during a crisis situation, certain maintenance needs must be met for your renters.
- An El Paso property manager makes property maintenance a priority.
- When tenants are happy in a well-cared-for home, they pay the rent on time and follow the rules of their lease agreement.
- When your property is in excellent condition and current with the features tenants want in a rental home, you make more money!
You Don't Have to Answer the Calls
If you've managed your own rentals, you probably dread those middle-of-the-night tenant phone calls to report a maintenance issue. When you don't have the help of property management services, you're the only one available to take those calls and finding a solution—day or night.
A professional property manager takes those calls away! Plus, our maintenance services make it easier for tenants to make a maintenance request—any time—and receive a prompt response.
- 24/7 availability to receive maintenance requests
- Vetted contractors who are safe to work in a tenant's home
- Emergency repairs using our vetted contractors
- Preventative maintenance year-round
- A thorough Make-Ready Process to prepare for new tenants.
Being proactive about the care of your property is the key to reducing costs and avoiding significant repairs that could have been caught earlier. Prompt repairs are important; preventing significant repairs is even better.
Property Inspections Protect Your Assets
We can't be there every day—but that doesn't mean we aren't actively keeping an eye on your rental properties. Tenants have a responsibility to report maintenance issues right away, but sometimes they don't notice a problem before it becomes a significant issue.
Your property manager conducts property inspections to help catch problems early. We know what to look for during each type of property inspection.
- Move-In: After we complete the make-ready and before a new tenant moves in, we walk through your property. This inspection documents the condition of your property, inside and out—before your tenant moves in.
- Move-Out: When a tenant moves out of your property, we conduct another walk-through inspection. We compare the condition of the property at move-in to the documented condition from the move-in inspection. Your property manager can recognize any damage that doesn't qualify as normal wear-and-tear—then work with your tenant to recover the costs for those repairs.
- Mid-Lease: It's a good idea to check on your properties between move-in and move-out. We schedule mid-lease inspections to check for potential problems and make sure your tenants are taking care of your property according to the lease agreements.
No news isn't always good news! Just because your tenant hasn't called with a problem doesn't mean your property is okay. Even when times are good, we don't recommend property owners wait for bad news! Proactively following a scheduled process for property maintenance helps make sure our owners aren't dealing with ongoing maintenance headaches.
Your Tenants Are Ideal
There are no perfect tenants, but an El Paso property manager can help you find the ideal tenants for your properties.
Choosing tenants can be another source of stress for rental property owners. Every new tenant search can feel like a guessing game where one wrong move can spell financial disaster for your portfolio. Finding a good tenant shouldn't depend on a twenty-questions strategy—but that's tough to do without a thorough tenant screening process.
Analyzing rental applications and calling references is only a small part of how to identify an ideal tenant. A property manager also does a credit check, verifies income and employment, looks at criminal history, and confirms an applicant's rental history. These critical details can reveal red flags about a potential tenant and help point us to the best tenant to place in your property.
A bad tenant can be an expensive mistake! Property managers can avoid the risk when you work with a property manager to screen for your ideal tenants.
An El Paso Property Manager Makes Real Estate Investing Worth It!
Passive income isn't "passive" if you're always dealing with headaches. From late rent to property maintenance and bad tenants, being a real estate investor comes with plenty of headaches—until you let an El Paso property manager offer relief!
Reliant Property Management can ease your real estate investment suffering. We have the processes and technology in place to make sure you never have to worry about rent collection, property maintenance, and tenant screening. We start with a Free Rental Analysis to learn more about your property, your goals, and how we can help! Let's get in touch.