Owning and renting out property is a smart money move. According to new 2024 data from Zillow, rent prices are up 3.4 percent compared to last year reaching $1,958 on average.
As a landlord, it's vital that you protect your investment property to protect your wealth.
Read on to learn how using property management services can protect your rental value, and how it can help you deal with maintenance, tenant issues, and more.
Excellent Record Keeping
One of the best ways to protect your investment property is to keep accurate, thorough records. A property management company can help you manage everything from new leases and deposits to legal documents.
With the right management company by your side, you'll be able to keep track of everything all in one place. Not only does this help you as a landlord, but it also frees up your valuable time to focus on other things, too.
Easier Maintenance for Your Investment Property
Regular, thorough maintenance is vital to protect your property's integrity. It's also helpful when it comes to improving things like tenant relations and tenant retention.
A property management service will handle maintenance requests and get any maintenance-related issues taken care of as quickly as possible. This ensures that issues are handled promptly, and most property management services use trained, skilled professionals to handle key maintenance tasks.
Improved Communication
Landlords can expect to field the occasional phone call from their tenants whenever something goes wrong or whenever they have a question. If you use a property management service, you can field those calls directly to them, allowing you to deal with other things.
Providing your tenants with access to the property management company also gives them peace of mind. Not only does it eliminate you as the middleman, but it gives them the ability to contact a team of professionals who can handle their issues or requests.
Happier Tenants Improve Rental Value
When your tenants are happy, your property's rental value will remain stable or even increase. The longer you keep tenants in your property, the more revenue you'll make. Having stable and long-term tenants means stable revenue for you as a property owner.
A quality property management service can also offer your renters access to a virtual tenant portal. These convenient portals allow tenants to pay their rent, check on new announcements, and submit maintenance requests all from a single location.
Protect Your Wealth with Property Management
A professional property management service is the best way to protect your investment property and keep your tenants happy. From managing documents and records to offering maintenance services and tenant portals, it's the best way to keep your rental value as high as possible for as long as possible.
At Axela Management, we offer property management, investment consultation, and bespoke client services to meet your needs. We're fully equipped to handle everything with unparalleled expertise and attention to detail, so contact us today to find out how we can help you.
