If you want to be a profitable landlord, it requires more than just pocketing a rent check every month. You must understand the rental market to know how to best increase your bottom line. You can encounter costly mistakes and legal pitfalls if not careful. Learning to maneuver the complexities of the rental industry takes time and experience.
Owning a rental home is a business investment that requires business decisions. If you want a steady cash flow, you must utilize the proper resources that help you succeed. At PropertyWize, our number one goal is for our owners to see investment gains.
We offer great tips that make landlords profitable.
- Quality Tenant Screening – Placing qualified tenants in your home makes a big difference. When you find quality tenants, the likelihood of payment delays, property damage, and even eviction decreases. Keep in mind that where you purchase your investment can determine the type of tenant you will attract. We highly recommend C+ through A markets in order to guarantee a good quality tenant. The solution is simple, quality tenants want to live in quality neighborhoods!
- Strong Collections Process – Consistent rent collection helps you be profitable. On occasion, however, tenants may run into financial difficulties. Make sure you have a firm-but-fair collections system in place. At PropertyWize we place a lot of time and resources into developing a vigorous policy on collecting rent that makes it easier for our owners to keep consistent cash flow month after month.
- Accurate Rent Rates – The rental market constantly fluctuates. Property management companies like PropertyWize can help you decide the best price for your rental based on their extensive experience in the market.
- Proactive Maintenance – No matter your tenants, maintenance is inevitable. Don’t let this discourage you. You should expect to put money back into your rental for home repairs. But you can drastically reduce your overall costs by fixing small problems before they become big problems.
- Regular Inspections – Be preventative. Protect yourself and your property by conducting property inspections. This helps your property stay in compliance with legal regulations as well. We offer a detailed inspection annually included in your Management fee. We pride ourselves on being proactive, prompt and professional as well as being transparent for our owners to be as hands on or as hands off as they like!
Researching Property Management Companies?
PropertyWize is the best in the industry!
We are committed to making you a successful investor. Our team wants to see you get a better return on your rental property. We know how to increase your profits all while decreasing your stress and frustrations. Being a landlord is hard work. Put our experienced team to work for you.
Don’t Delay Let PropertyWize End Your Headache Today!
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