Why Should an Owner Hire a Property Manager?
Owning property in the Nashville area can be a wise decision, but preparing to rent, selecting good tenants and maintaining the property can eat into your profits quickly. Regardless of whether you invest in one single-family home, multiple properties or a large multi-unit complex, managing the property can be time-consuming.
When you are trying to determine whether hiring a Nashville property management company in Nashville is wise, remember the following:
Preparing the Home or Commercial Property for Rent
One of the most difficult things about being a property manager comes before you list the property. You may need renovations to floor and wall coverings, lights, plumbing and more. It's necessary to make sure everything is functional and attractive. Depending on other rental properties nearby, you might also need to upgrade appliances and add new amenities to see the highest possible returns.
You will also need to decide on rental fees, whether to include utilities and more. In addition, you need to follow all the rules of your local zoning authority or HOA. Our property management company has the dedication and experience it takes to help you make good decisions.
Showing the Property & Finding Renters
Once your property is on the market, you need to locate trustworthy renters quickly. This requires getting word out that your property is available. We use only the most professional outdoor signage and premier internet marketing, including searchable online listings featuring photography and compelling written descriptions of your real estate. Every day your property goes unrented represents profit loss.
You will probably need to give prospective renters tours, and will have to set aside time for appointments even when prospective renters no show. When a tenant is interested in the property, you need to check their background carefully. We complete thorough background checks, including proof of income, rental and criminal history and credit history. These reports get expensive, even when you ask for application fees, but we have agreements that save our property owners money.
You also need to make sure you follow the law during applications. Most owners who don't hire management companies aren't familiar with federal, state and local guidelines. Even small problems can become expensive.
Repairs, Maintenance & Inspections
Making your property investment grow in Nashville requires good maintenance. We perform regular internal and external inspections while you have tenants, plus follow a regular maintenance schedule. When issues arise, you need to make repairs as quickly as possible. Our skilled property managers know how to see big problems ahead of time, and we have a network of local repair technicians available in case of problems. We are reachable for tenants 24/7, including nights and weekends.
Careful tenant screening lessens your probability of running into problems down the road, but problems may still occur. The first thing you should do is to make payments simple for tenants. We use full-service online tools that allow for scheduled online payments and that put money in your account monthly. If we see missed payments, we know the steps to take. From getting a hold of tenants to filing the correct paperwork in case an eviction is necessary, we handle everything. Following an eviction, we can make repairs and do remodeling so you can find new renters.
At Real Property Management in Nashville, Tennessee, we aim to build communities and help you make money in real estate. Our highly trained staff has the know how it takes to help you maximize profit while reducing stress. Call us today to learn about we can help you achieve long-term success.
Ready to find out more?
Drop us a line today for a free quote!