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While 10.6 million Americans earn income from rental properties, only 45% manage their own. The rest rely on property management services to maximize their profitability. Why aren't you?
Relying on a leasing only service in Council Bluffs, IA could prove key to your success in today's competitive market. Still on the fence about these real estate leasing solutions? Read on to discover five benefits of leasing services for landlords today!
1. Professional Tenant Screening
Most tenant screening reports are inaccurate. About 65% of the 26,700 complaints to the Consumer Financial Protection Bureau mentioned these errors. Choosing tenants based on these inaccurate reports could cost you later.
For example, you may choose tenants who never pay rent on time. Your tenant may cause damage to the property, leading to costly repairs.
Instead, rely on property management services like tenant screening. Their thorough reports consider:
- Rental histories
- Eviction histories
- Criminal background checks
- References
- Employment verification
You can feel confident knowing you're choosing a reliable tenant with a strong rental history. They'll cause you less landlord stress in the future.
Completing this process alone can be costly and time-consuming. Outsourcing will allow you to get accurate reports without wasting resources.
2. Optimized Rental Pricing
An experienced property manager can complete a rental analysis before listing your property. They'll research the local rental market to set competitive prices.
On your own, you may price the rental too high or low. Setting the rental rate too high can scare away potential renters. They'll consider similar rentals that are listed at lower prices.
If you set the price too high, you'll attract more renters. However, you won't maximize your earning potential. Relying on professional services can ensure you set optimal rates.
3. Save Time
Managing a rental property and responding to tenant inquiries is time-consuming. You'll stretch yourself thin if you do it all alone. Outsourcing will ensure you better manage your time.
Choose a full-service property management company that can streamline tasks. They'll handle:
- Inspections and maintenance
- Property marketing
- Tenant screening
- Showings
- Paperwork and lease agreements
- Evictions
You can sit back, relax, and generate passive income without stress.
4. Compliance With Local Regulations
Failing to track local, state, and federal laws could lead to legal trouble. A property manager will ensure you comply with these local regulations. You can rely on their knowledge of housing codes and standards to avoid legal trouble.
5. Streamline Property Management
Your property management company can use the best real estate leasing solutions to help you operate efficiently. For example, they can use an online tenant portal to:
- Track maintenance requests
- Request rent payments
- Charge late fees
- Respond to tenant inquiries
This ensures fast responses, which can increase tenant satisfaction rates. Keeping your tenants happy can increase renewals, improving your occupancy rate.
Choose a Leasing Only Service Today
You don't need to manage your Council Bluffs rental alone. Instead, rely on a leasing only service. Partnering with a property management company can ensure your success and profitability.
Trust our team at PMI of the Midlands with your rental property. We have 20 years of experience as part of a fast-growing property management franchise. Our state-of-the-art technology can streamline property management.
We'll maximize your earning potential using our award-winning strategies. Contact us today for a free rental analysis.
