Tenant screening is one area that many owners who manage their own residential rental properties struggle with. If you own a single property or only a couple of properties, you may find it cost-prohibitive to run full background checks on every applicant, and certain services like rental history verification may not be available at all to you as an individual. You know that it’s important to gather all the information you can to make informed decisions about tenants, and yet, getting that information is expensive and time-consuming, if you can get it at all.
Better Marketing Strategies Bring Better Prospects
Another area that presents significant challenges for owners is marketing. There are lots of places to advertise rental properties free, but they’re often riddled with irrelevant ads and they’re not where the responsible tenants you want to attract naturally go looking. Finding good tenants starts as early in the process as choosing where to market your property, and the best outlets usually cost money for individuals to place a listing or ad. Property management companies that run many listings each month typically get a reduced rate, making it more affordable to place their listings in the most desirable outlets.
Professional Property Managers Have Better Screening Tools
Professional property managers like the team at Belmont Management Group run a high volume of tenant screenings, so makes sense for them to pay for more powerful tools to help them do more effective screenings, faster. When your property is managed through a professional management service, you get the benefit of better information at a lower cost, which ultimately means you’re likely to have longer-term tenancies with fewer problems, and less chance of needing to evict tenants. We’ll not only pull a credit report on each prospective tenant, but also run a background check, verify their employment and income, and review their rental history and rent payment history. Vacancies are filled faster, and turnover rates are significantly lower, which ultimately saves you money.
Better Returns On You Investment, Less Hassle
Owning investment property is never going to bring completely passive income, but working with a professional property management company will definitely help shift the balance toward “less time, better income” for you, the owner. The Belmont Management Group delivers better results for their clients, throughout the leasing and property management process. Call or contact us online for a consultation and we’ll tell you more about how professional property management brings you a better return.