16 Key Services Rental Owners Need
Are you looking to hire a property management services firm near you soon in 2023?
Have you been been in the rental property business for a while, yet haven’t enjoyed the profit performance you expected?
A key reason might be that your property management and maintenance services providers may not be focusing on the essential services, automating, and delivering a great tenant experience.
In 2023, you might be experiencing some cost pressures. A modern property management software and firm that uses that software is going to be central to reducing costs, lifting profitability, and maximizing staff productivity.
More Properties, More Work
Working with a property management services provider is like handing your kids over to a babysitter you hardly know. Make sure they’ve got a system to help you keep them accountable and on track, so they’re treating your tenants and properties well.
The Big 3 Services Provided
The key services for property management companies (post pandemic era) will be: 1) tenant services, 2) accounting, and 3) professional and efficient maintenance services.
At whatever degree of involvement with your properties, pro property managers can be a key asset for landlords.
If you’re still managing your properties in a do it yourself, part time manner, it’s not going to work when you have to scale up.
16 Key Property Management Services
16 services create the demand for property management companies:
- efficient property maintenance process at a lower cost (an efficient process for maintaining properties which is basically proactive time management)
- professional, responsive tenant communications and lease management process (making being leased as comfortable as possible, ensuring no gaps that would result in tenants deciding to leave)
- super accounting services to ensure they’re handling deposits and rent income properly, and documenting expenses, staying on top of accounts receivables and payables, creating informative reports, and preparing great documents for your tax accountant.
- better landscaping services to improve tenant comfort and build curb appeal (the tenant experience is also visual and landscaping and other aesthetics builds comfort and impression of value received)
- insight into the rental market and how to price your units better (as part of marketing or leasing services, the provider builds your awareness of renter demands, advertising and negotiating strategies, and tenant retention)
- professional approach to rent collection and rent-related issue management with your valued tenants (arranging online rent payment, and having smooth issue-resolution protocols help the tenant meet their obligations)
- professional, detailed inspections of your rental units and advice on hazards and risks (inspections help to identify mechanical, structural, and other issues that could soon be a big cost)
- improved tenant screening (a multi-pronged strategy using software services and interviewing techniques to avoid bad tenant decisions, which could create a drain on your profitability)
- offer recommendations on improving ROI (expertise helps guide your decisions on improvements, investments, properties, and business models)
- tenant application processing, rental suite showing and move in (the complete tenancy process made smooth and efficient, using virtual tools and online communications to increase engagement with prospects until they sign the lease)
- writing better leases and better adherence to legal guidelines (ensuring your complete communications with tenants respects tenant and rental regulations to avoid fines and embarrassing fines)
- conducting better marketing and vacancy ad writing services to draw better tenants (composing effective rentals ads and placing them with the top rental listing websites to attract the best tenants)
- excellent property maintenance (ensuring mechanical, plumbing, roofing and other features are inspected and regularly services to avoid substantial losses and tenant inconvenience).
- experience and professional advice for all issues you face (experience and lessons learned on someone else’s properties means fewer costs for you, better decisions, and trouble avoided)
- automation of document management, accounting, maintenance scheduling, and tenant communications (smart automation reduces manual data input, reduces errors, and provides more reliable financial reports for your specific business)
- reaching licensed contractors and vetting all contractors (bonded too) (knowing who can do professional quality work and being responsible for their output takes worry away)
Essential Services for Landlords/Property Owners
You’ll need a mix of services, likely served via a good property management software platform to ensure there are no gaps and liabilities in the mix. One service supports the others, so you may need to ensure all are provided as you decide on which property management service provider to hire.
After prioritizing the most valuable, essential services to ensure your rental properties are being managed effectively, you only need to monitor them via your ManageCasa owner portal dashboard.
Take a Product Demo to see ManageCasa‘s features first hand.
Property Management Services Firms
Start with a few companies in your state:
More info for lanldords:
Getting Started: How to Correctly Choose Software | Property Management Companies | Best Software Ratings | Software Evaluation | Software Recommendations | Ask Questions about Software | Software Product Demo | Buy Software Guide | Software Pricing and Affordability | Software Options | ManageCasa Alternatives | Landlord Software | Set up ManageCasa Account | Property Management Cost | Find High Quality Software | Best Software for 2023