Having a rental property is a great way to build equity or save money while paying off your mortgage, but — just like everything in life— it comes with its own headaches and stress points. Oh, the roof is leaking or the kid next door kicked a soccer ball into the window, or the water heater flooded the hallway, etc etc. If you have a rental property in a different city from where you live, the distance can complicate things even more. Here at Reliant Property Management, we provide a service for people that is designed to eliminate stress and complications in both directions. Whether someone is renting from one of our rental properties or someone owns a property we manage, we strive to make the living arrangement work for both parties.
If you are a property owner, you likely have two main worries running through your head on a constant basis: is my property safe? Is it being cared for? And do I have a good tenant living in my property? A good and reliable property manager will erase those constant worries from your mind. Here’s how a property manager will make your life easier.
- Conducting market assessments. Before your property goes up for rent, you want to ensure you know the market value of your property and set a proper and fair rent for your tenants. Markets are always changing and so are property values. These assessments are also good for planning future improvements or renovations. As the market value of your property fluctuates, you can plan on making necessary renovations or adding value to the property to keep it well-maintained and looking beautiful. It takes time and knowledge of the local market to do these assessments correctly and accurately.
- Preparing your rental. Before anyone moves in, there are plenty of things that should be done to make sure the property is ready, livable, and up to code on everything. This can range from small things like smoke alarms, working faucets, to fixing a broken window or repairing door locks. When it comes to repair, cosmetic fixes, and even cleaning, a good property manager will take care of it for you, so you don’t have to.
- Advertising and marketing. If you want to have your home leased constantly, advertising is a very important part of finding tenants and finding the right ones. As your property managers we know the best places and best ways to advertise.
- Tenant screening. This is a big one! Every property owner wants to ensure that their property is protected and is not being damaged by a careless tenant. This is probably one of the biggest issues that property owners face and the one that brings them the most grief. Finding the right person is key to ensuring the safety of your property and having some peace of mind that you will not be struggling to collect rent every month or worrying about some kind of damage done to your place.
- Lease preparation and signing. When you rent out your house, the lease agreement is the legal contract that lays out certain terms and conditions. The law can be pretty involved and complicated and there are plenty of legal considerations to keep in mind when renting out your house. The contract is important for a variety of legal and procedural purposes. Preparing a thorough and well structured lease statement with important rules and regulations, and laid out terms is also a big part of ensuring you and your property are protected.
- Renewing leases and managing move-outs. When it comes time for your tenants to move out, you want to make sure that the move out is handled properly. This includes checking and verifying no damage was done, returning deposits, overseeing the cleaning and maintenance of the place once they move out. If your tenant decides to renew their contract, there are also some important steps to take to ensure that there is a new contract drafted and that there is a property check to ensure the damage.
Handing out the responsibility of your rental property can be scary. Here at Reliant Property Managers, we understand just how important taking care of your property is to you and your family. Owning a property is a lot of responsibility and comes with a certain amount of work involved. We take over the difficult part of it. With us, you don’t have to worry about screening tenants, coordinating lease renewals or move-outs or ensuring the monthly collection of payment or rent.