You're looking forward to generating more revenue from your real estate portfolio in 2024. Greenville, South Carolina, is on your radar for your next few rental income properties.
Smart thinking. Research shows that the rent price in Greenville skyrocketed over 7% from 2021 to 2022. The increase was over 26% over five years due to inflation and rising repair costs, with rent surpassing $1,200 per month.
Consider hiring a property manager to help you manage the new properties you purchase in Greenville. Let's explore the types of services these management companies provide, including handling owner disbursements, and how they can streamline your experience as a landlord.
Managing Owner Disbursements
Dependable property managers can collect your tenants' rent and disburse payments to you from the revenue you generate from your rental properties. They'll give you these payments after they've deducted expenses that must be covered first, such as maintenance and repair costs.
Your property manager may also handle other disbursements, like application and pet fees. Additional disbursements they can oversee include late fees and security deposits.
Analyzing Your Rent Price
A reputable property manager can thoroughly examine your home and compare it with other comparable homes in the neighborhood to determine a reasonable rental price for your property. They will consider factors like the property's size, features, and location in Greenville.
The property manager will also examine existing market trends as part of the rent price analysis. This can help maximize your rental income while guaranteeing that your rental price appeals to prospective tenants.
Screening Tenants
Finding dependable tenants depends heavily on your screening procedure. Property managers can perform criminal background checks on prospective tenants and confirm their job statuses, income levels, and credit histories. They might also look into references and past rental records to ensure your potential tenants are trustworthy and can uphold your lease terms.
Supporting Move-In
A qualified property manager can help make your move-in procedure seamless. This includes handling all the related paperwork and ensuring the lease abides by local regulations.
The manager can also perform a property inspection before the renter moves in. Another important duty of a property manager is to ensure all systems, like the heating and air conditioning system, operate as intended before the tenant's move-in date.
Marketing Your Property
A property manager can produce an eye-catching listing with quality images and a thorough description of your rental property to reach a large audience. They can share this listing on social media and on their own property website. This will improve your listing's visibility and facilitate a speedy search for suitable tenants.
How We Can Help
Property managers can make your landlord process easier in Greenville by handling owner disbursements and performing a rent analysis. They can also screen prospective tenants, support the tenant move-in process, and help you market your property to potential renters.
At PMI Upstate SC, we offer numerous services to help you maximize your time and profit. We can help with property maintenance, evictions, and financial reporting along with the above-listed services. Boost your rental portfolio profits by partnering with us today!
