Did you know that an investment property is a great way to make passive income? Passive income can generate earnings without too much work. This is especially true if you hire a property management company.
Indiana investors looking to get involved in real estate should invest now.
A property manager can help you maximize investment property profits. From tenant screening to better communication, this is how these professionals can help:
Access to Quality Tenants
A property management company can help you find quality tenants. Through an efficient tenant screening process, owners can generate consistent rental income.
Outsourcing to a property manager is one of the best investment strategies for this reason alone. They will handle applications and submit them to tenant screening companies.
With the information from the screening report, you can ensure tenants meet your standards. Be sure to follow guidelines from the Fair Housing Act to avoid discrimination lawsuits.
The best tenants will pay rent on time, avoid damaging the property, and hopefully renew their lease. Bad tenants can cost you a lot of money.
Market Your Property
A real estate investor must market their property to avoid long vacancy rates. If you don't have experience with marketing, a property manager can help.
Property management companies partner with professional photographers to showcase your units on rental listings. Some will stage the property to help potential applicants feel at home in your investment property.
The right marketing efforts will help you close a deal and find new tenants faster.
Proactive Property Maintenance
The different types of properties have different maintenance needs. A property manager stays on top of maintenance through proactive and preventative measures.
Landlords in Indiana are legally responsible for keeping units habitable and in good condition. Maintenance can help you do that.
Unaddressed water, electrical, and HVAC system repairs may lead to tenants hiring lawyers or contacting local housing authorities.
A property manager can complete regular inspections and set up an efficient maintenance protocol. They might implement a tenant portal where tenants can make maintenance requests online.
PMI Midwest offers 24/7 maintenance support for tenants and owners. We also offer immediate service for emergencies.
Better Tenant Relations
Tenants are the key to making rental property income. Happy tenants contribute to the success of your investment.
Property management companies work with tenants to foster positive experiences. Communication can keep tenants happy and persuade them to renew their leases.
A tenant portal is another way to keep open lines of communication. Tenants can send messages directly to property managers if they have questions or concerns.
Protect Your Investment Property Today
Indianapolis property owners can protect their investments with the help of a property management company. PMI Midwest strives to make owning an investment property easy.
We are the leading commercial and residential property management company in the Midwest. Our goal is to provide management solutions that generate profits and lead to overall success.
We stand apart from other companies by understanding that different properties require different approaches to property management. Contact us today for a customized plan.
