1.Proven strategies for handling tenants. Responding to tenant requests is one of the most time-consuming parts of owning a rental property, and some may expect a lot from their landlords. It’s key to keep tenants happy if you want them to continue renting your property and provide positive word of mouth. A property management agency can take care of tenant requests and help ensure customer satisfaction.
2. More timely rent payments. Property management agencies like Coastal Shores Property Group use a variety of software solutions to make sure tenants pay on time. With online rent payment software, agencies can offer a range of direct payment methods, including credit card and EFT. With a software portal, agencies can also send out automatic rent reminders by SMS, email or phone. Tenants and landlords can even be provided with their own login portals for live up to date financial and rental information on the go.
3. Improved maintenance. Most property management agencies handle maintenance issues for you, from minor repairs to preventative maintenance. Not only will all tenant complaints be handled quickly, but future issues will be minimised or avoided altogether, protecting your long term investment.
4. Effective marketing and advertising. Property managers have been around the block more than a few times. They know where to market your property and they have the expertise to craft compelling advertising. Their experience offers a significant competitive advantage to quickly fill your property and reduce vacancies.
5. Better tenants. That same experience enables property managers to find the right tenants for your properties. They will make sure the entire process runs smoothly, from securing background checks, rental history to verifying employment and following up with references.
6. Decreased tenant turnover. With so much attention to attracting the right renters and meeting their needs, property management agencies can significantly decrease tenant turnover. It is their job to be responsive and available, so they can focus on taking care of problems as they arise and communicating with tenant and landlords to make sure they’re satisfied. Customer satisfaction is important in the property management industry. Happy tenants are more likely to become long term renters, and are more open to reasonable rent increases when the time comes.
Property management is not a place to cut corners and Property management agencies can save a property investors time and money. The key is to choose a company that ensures transparency, who uses the latest software and technology to meet and surpass resident expectations.