Are you managing multiple rental properties alone? As a real estate investor, you may feel stretched thin or experience landlord stress. Instead, outsource to a full-service property management company.
After all, fewer than half of all landlords manage their own properties. The rest rely on different types of services to operate more efficiently.
Not sure if you need to hire a property manager in Indianapolis? Read on to discover the benefits before making your choice!
Find Quality Tenants
Your investment properties will sit vacant if you don't develop a digital marketing strategy. The national rental vacancy rate is already over 6%. You'll lose thousands of dollars a month in revenue for every vacant unit.
Your property manager can develop an omnichannel marketing strategy. These strategies can enhance your property listing's online visibility:
- Property cleaning and staging
- Landscaping
- Professional real estate photography
- Virtual and video tours
- Search engine optimization
- Social media marketing
- Paid advertising
More people will discover your listing online. You can increase your tenant pool to start filling vacant units. As your occupancy rate increases, so will your ROI.
Screen Applicants
As you review different types of services as a real estate investor, consider tenant screening services. Screening applicants will help you avoid troublesome renters.
Otherwise, you may select renters who pay late or damage rental properties. You may have to worry about evictions or taking legal action.
Your property manager will screen applicants and gather comprehensive reports. They'll ensure you follow anti-discrimination laws when selecting tenants.
Simplify Rent Collection
The best property manager will provide you with access to state-of-the-art technology. Their resources can streamline processes and ensure efficiency. For example, they have tenants pay rent using an online portal.
You won't have to go door-to-door to collect rent payments. Instead, renters can automate payments online. The portal will even charge late fees on your behalf.
Moving tenants onto an online portal can consolidate communications. Responding quickly to tenant inquiries can increase tenant satisfaction rates. Happy tenants are more likely to renew their leases.
Generating more lease renewals can improve your occupancy rate and ROI. You won't have to worry about long-lasting vacancies.
Experience and Expertise
If you're new to Indianapolis' real estate industry, you may need help pinpointing effective investment properties. Rely on your property manager's local experience and expertise. They can help you make informed decisions to ensure your success.
With their help, you can discover investment opportunities. They'll protect your existing investments and bolster your ROI.
Ask your property manager to complete a rental analysis. They'll set competitive rates to ensure you aren't leaving money on the table.
Choose Full-Service Property Management Today
Don't continue managing your rental properties alone. Instead, request full-service property management. Working with an experienced property manager can save you time and ensure your success in today's market.
Our team at PMI has nearly 20 years of local real estate asset management experience. We use state-of-the-art technology and award-winning strategies to help clients succeed.
We can maximize your earning potential. Contact us today to meet your Indianapolis property manager.
