Are you managing your investment properties in Greenville, SC alone? You're likely to feel drained within a few months (if you're not already). Instead, consider hiring a full service property management company.
About 44% of investors use property managers, while the rest manage their own properties. With help, you can operate more efficiently. You'll also avoid stress as a new landlord.
Not convinced you need property management services? Read on to discover the benefits today.
Attract Great Renters
Even one vacant property could cost you thousands of earnings each month. About 5.5 million homes in the nation's largest metro areas are vacant. The vacancy rate in these metros is over 7%.
Experienced property managers understand the local market and the renters of Greenville. They can develop a real estate marketing strategy. A comprehensive strategy will generate more visibility for your listings.
Select a company that offers tenant screening among their property management services. They'll check each applicant's:
- Credit score
- Rental history
- Eviction history
- Employment
- References
This information can help you recognize trustworthy individuals among a pool of applicants. You can select renters who won't damage your property or pay rent late. Choosing these renters will give you peace of mind.
Otherwise, unreliable renters can become a source of new landlord stress. They could cost you in terms of late payments and property maintenance.
Improve Efficiency
As a new landlord, you may be unaware of how to operate efficiently. Choose a company that uses property management software. They can:
- Automate rent payments
- Accept online maintenance requests
- Track projects
- Screen applicants
Their proven strategies and resources will save you time and money. For example, you won't have to go door-to-door to collect rent. Instead, renters can use a portal to submit payments.
Leverage Expertise
Are you aware of the latest local, state, and federal housing laws? If you don't remain compliant, you'll receive a fine or face legal consequences.
Leverage your property manager's industry experience and expertise. They'll ensure you avoid making costly mistakes.
Keep Up With Property Maintenance
Neglecting property maintenance will cause your properties to crumble. Greenville renters may decide to choose other properties instead.
Your property manager will schedule regular inspections. They'll spot issues before your property deteriorates. They can even suggest upgrades to help you gain a competitive advantage in today's market.
Avoid New Landlord Stress
Everything from maintenance requests to vacancies can cause you stress. Outsourcing will help you remain successful as a real estate investor. They can increase lease renewals, keep renters happy, and streamline operations.
Your property manager can use proven strategies to accomplish your goals. Leveraging their services will improve your profitability.
Benefit From Full Service Property Management
You may be inefficient or ineffective at managing your investment properties alone. Instead, consider outsourcing. Request full service property management from a team that understands Greenville's market.
Our team at PMI Upstate SC has 20 years of industry experience. We can maximize your earning potential using proven strategies and technology.
Ensure your success as a new landlord. Contact our team today to meet your Greenville property managers.
