Managing properties isn't as easy as everyone hopes it will be! While generating passive income through Rent Estate™ is one of the best ways to build long-term wealth, without the right help, it's a lot of work! If you've gotten your feet wet as an investor with one or two properties, you know that to be true.
You probably also enjoy the additional income that comes from monthly rental checks! So, how can investors grow their "side money" into a more significant source of revenue? If one or two properties is a lot of work, adding more properties will only increase your workload.
The most successful investors choose professional Franklin property management provided by Renters Warehouse! Even if you don't plan to grow your portfolio, expert property management takes the work for your current property off of your hands—while you continue to enjoy the financial benefits! Here's what a property manager can do for rental owners in Franklin, VA.
Rent Collection Made Easy
Collecting the rent every month could be one of your most time-consuming jobs as an investment property owner. If you have more than one property, you know the challenges of processing rental checks, then paying the bills. When you have a late payment from a tenant, it can take a while to send reminders and finally get that late check.
Franklin property management takes on the burden of collecting rent every month! Your real estate investment income isn't passive if you have to go get it. Stay home and relax while your Professional Landlord makes it easy for tenants to pay the rent!
No Matter the Circumstances, You Get Paid
Late payment happens—even when there are no good reasons for the rent to be late. Tenants forget to send the check, the check gets lost in the mail, or a credit card payment doesn't go through. During a crisis or social distancing, property owners can find it more challenging to collect the rent on time.
A professional property manager has the solution to most common causes of delayed rental payments—in good times and in bad—including:
- Secure online tenant portals for rental payments
- Automatic reminders for late payments
- Payment processing within a few days of rent collection.
We prioritize your bottom line when it comes to collecting the rent and making sure our property owners get paid! Setting expectations, enforcing rental payments, and providing the easiest (and most secure) ways for tenants to pay the rent means you never have to worry about receiving your income—passively—every month!
Maintenance Is Professional
Are you ready to put down your hammer? If it's time to hang up your DIY property maintenance hat, the experts in Franklin property management can take it over for you!
One of the best ways to keep tenants longer is to provide professional maintenance services. You've done your best to piece together DIY repairs and work with contractors for tasks you can't (and shouldn't) handle on your own. However, to make more money on your investment properties and impress your tenants, using professional maintenance services is a good business decision.
Never Worry About Emergency Repairs or Seasonal Maintenance
Keeping up with the maintenance on one or two Franklin, VA properties is almost a full-time job. Adding another property can boost your income—but you also add more maintenance work to your plate. If you're managing rental properties on top of a full-time job, it's nearly impossible to keep up with tenant maintenance requests and seasonal maintenance tasks to protect your investments.
Hiring an expert property manager means you have a team of maintenance professionals to take care of everything—24/7. That means you no longer have to deal with:
- Vetting or scheduling vendors
- Answering late-night emergency maintenance calls
- Managing repair or renovation projects and budgets
- Planning routine maintenance to prepare your properties before each new season.
We prioritize the maintenance of every property in your portfolio. Whether you have one property that you inherited or you've decided to build a more significant investment portfolio, excellent rental maintenance can be either a liability to your income or one of your biggest selling points to tenants!
Choosing Franklin property management tells tenants you priority the quality of care for your property—and you offer professional maintenance services to help them feel safe and secure in your rental.
Quality Tenants Are Guaranteed!
Not every property manager guarantees quality tenant placement, but the Franklin property management experts at Renters Warehouse do! The wrong tenants can be expensive problems for investment property owners. Choose a property manager that won't risk your property or your income by sacrificing quality when it's time to choose your next tenants.
Screening Is Essential
If you've experienced a bad tenant, you were probably more careful about selecting the tenant that came next. Bad tenants refuse to pay the rent and often cause property damage. They also neglect to follow the rules of the lease and sometimes abandon a property without notice.
Dealing with an unexpected vacancy, repairing tenant damage, and suffering the loss of rental income from a bad tenant can make any investor want to get out of the investment property business—but there's no need to deal with any of those issues! The right Franklin, VA property manager applies a thorough screening process to avoid those issues before they have a chance to take place in your rental properties!
When choosing your expert property manager, make sure they:
- Work with you to set the criteria for tenants living in your properties
- Run a thorough background screening on every applicant
- Follow all fair housing laws to avoid discriminatory practices
- Certify their tenant selections.
A property manager that stands by their process and will make it right if a bad tenant becomes a problem in one of your rentals. Property owners should never suffer the consequences of bad tenant behavior or nonpayment of rent! Ask your property manager about their tenant warranty policy.
Never Handle an Eviction
Trusting expert property managers—and their screening process—leads to better tenants, but it's not a completely foolproof process. Sometimes bad tenants happen despite meeting your criteria with flying colors after a thorough screening process.
However, with professional Franklin property management, property owners never have to deal with bad tenants! From enforcing the lease rules to handling an eviction (if necessary), your property manager handles everything. Never dealing with tenants is one of the best perks of hiring property management!
The Price Is Always Right
How do you know if you're making enough money from your rental property? Finding the right monthly bullseye price is one of the most challenging—and critical—aspects of being a successful investment property owner.
The price is wrong if:
- You're not seeing a profit after paying expenses: There's a good chance the rental rate is too low.
- Your property sits empty for too long: The rent might be higher than the competitive market rate—and tenants know better than to pay that much.
Stay competitive and generate a profit without having to guess or "pick" a rent price that sounds "about right." The Professional Landlords at Renters Warehouse use rental market analysis to make sure your property has the right rental price!
Choose Worry-Free Franklin Property Management
How do you choose the right property management partner? You need professionals who expertly handle all of the things we just mentioned—and more! That's why Renters Warehouse Hampton Roads is the best choice for property owners in Franklin, VA. Our pricing, service excellence, and tenant warranty make us the best choice to help investors worry less while making more money! Let's get started with a Free Rental Analysis!