In this article, we have chosen 5 smart reasons you should let a property management company market your rental home. There is no right or wrong decision, however, time, money, response, and the quality of applicants should be additional factors in deciding whether you should just let a pro do it. Below are 5 smart reasons that make it worth every penny.
Good Ad copy is important in attracting quality applicants for the selection process. Creating effective copy for a property Ad is not as easy as it seems. Many owners will discuss what they personally like about the home, which is not necessarily what renters want to hear. It is a matter of pride, at times, when an owner speaks about their property. A Property Management company knows how to objectively write professional copy that will attract many quality applicants for the selection process.
Syndication and Access
It would take an owner a long time to manually enter their property information into the number of sites a property manager has access to. Many owners do not want to pay for the same tools property management companies have for marketing. Property Managers have many properties to market, therefore paying for a marketing syndication tool is not only worth it, but for effectiveness, it is imperative. A property management company uses a marketing syndication tool that allows them to input the property information once, which then gets posted simultaneously to over 50 plus different rental/real estate based websites, showcasing the property, with a click of a button. It syndicates the effort, and this allows the property manager to reach a wider audience of applicants. It makes finding many good applicants easy and quick so that the property doesn’t cost the owner money while it sits vacant.
Many owners try to take on everyone interested in the property, which can leave them wasting a lot of time on applicants who do not qualify. A property management company can field calls and help to weed out those who may not qualify, or are just looking. They know what questions to ask, and what to listen for, in making sure the tenant is serious and qualified. You can call this a prequalification process if you will. It can save time, and money on applicants who may not be qualified.
Once the property is marketed through syndication, and the applicants and calls start pouring in, a property manager can use their screening tools to narrow down qualified applicants. They have the tools, and staff to verify employment and income. They can see if the applicants have balances due to their previous landlords, or have ever missed payments or paid late. They can perform background checks for criminal, and Megan’s List. They can screen for credit and any previous housing issues such as an eviction. The hard job is to do this for all adults in a group over 18 that plan on living in the home. The applicants that make it through this, and have qualified income, become great long-term candidates for your property.
All in all, a property management company can take the hassle off of your plate. Why worry if you don’t have to. Forget about all the incoming calls, emails, applications and documents that you will need to verify. The lease fee, or monthly management fee, which is nominal, is worth every penny. The bigger picture is cashing in on a property that has been protected and well maintained over the years. The increased value that occurs when a property has been well managed is just plain awesome.
We look forward to working with you.