As a residential rental property owner, one of your biggest problems is vacancies. An unoccupied rental home hurts your bottom line, so you want to reduce vacancy rates as much as possible. How do you do that? By making your tenants happy. What makes tenants happy? Convenience and hassle-free living. Today's renters are different from those of past decades. They are used to doing everything online or on their mobile devices, and they expect the same convenience from their rental experience. A full-service professional property management company has the systems and software in place that keep your renters happy and your vacancies low.
Tenants want the convenience of paying their rent online. They don't want a landlord knocking on their door every month or the hassle of mailing a check every month. With an online payment system, tenants can pay their rent online, check past payments, receive a digital receipt automatically, and even set up automatic payments so they don't get charged a late fee or get threatened by eviction.
Ease of Communication
Renters enjoy being able to communicate with their property manager through various channels. A quality property manager will provide means for email and texting, in addition to phone, fax and voicemail. Many companies provide a web portal where residents can leave a message, request or complaint. Your property manager should have rules in place for how quick they respond and how quick they take the requested action.
Automatic Repair Requests
Your residents will appreciate the convenience of submitting their repair and maintenance requests online and know that it will be handled properly and promptly. A good property management company will likely have a network of reputable contractors to do the work quickly at a pre-negotiated, reasonable price. This service will save you money and keep your tenants happy.
When Eviction Is Necessary
Sometimes, despite efforts to find good tenants, they become problem tenants. Perhaps they're not paying their rent, creating neighborhood disturbances or causing damages to the property. Eviction is never a fun option, but when it's necessary, a professional management company has the legal resources to handle the often-difficult process quickly, with as few problems as possible.
Filling a Vacancy
When a person does move out of your property, you want to be able to cut your losses by renting the property as quickly as possible. A good property management company will have proven marketing methods and materials to find potential tenants. The company should also have a standard method of pre-screening applicants so you get responsible renters in your homes. They will do background checks, employment verification and rental history evaluation. Such diligence will reduce the likelihood of having to evict a poor tenant.
By partnering with a reputable property management company, you can ensure your residents are receiving the best possible customer service. The excellent service the company provides will keep tenants satisfied and eager to renew when the lease is up.