If you've owned rental property for any length of time, you know that managing a rental can be financially rewarding. At the same time, you've also likely discovered that property management requires a large commitment of time and effort.
Here are some critical tasks a Smart Choice Realty can help you with:
Setting the right rental rates: While looking through the classifieds to see what other landlords are charging for similar properties is a fine way to ballpark your rent price, Smart Choice Realty has tools to see more properties than what is listed on the internet. This will allow then to conduct a thorough market study in order to set a rental price for your property, ensuring that you achieve the perfect balance between maximizing monthly income and maintaining a low vacancy rate.
Collecting and depositing monthly rent payments on time: If you've ever worked in a billing department, you know that securing payment from customers can be difficult, not to mention awkward. Smart Choice Realty has efficient, tried-and-true systems in place to effectively collect rent and maintain on-time payments.
Marketing and advertising your property: Through long experience, Smart Choice Realty will know exactly where to market your property and how to craft compelling advertising materials---a significant advantage when it comes to filling your properties quickly and avoiding long vacancies.
Finding the right tenants: Smart Choice Realty are experts at finding good tenants, and will take care of all the details, including criminal and civil background checks, running credit reports, verifying employment, and collecting previous landlord references.
Managing tenants: In addition to finding good tenants, Smart Choice Realty will manage all aspects of the tenant-landlord relationship. We will handle both routine and emergency maintenance, take care of routine inspections, and manage any situations where conflict resolution is required.
Managing vendor relationships: Smart Choice Realty has relationships with maintenance workers, tradesmen, contractors, suppliers, and vendors that it's almost impossible for an independent landlord to duplicate. Not only will Smart Choice Realty get you the best work for the best price, they'll oversee any necessary maintenance projects.
Ensuring that you're in compliance with housing regulations and property laws: There is a multitude of applicable laws and regulations to abide by when renting and maintaining your rental property. These include local, state and federal regulations, as well as fair housing regulations (such as the ADA). Smart Choice Realty understands these laws and can help keep your property up-to-date.
Enabling you to invest in geographically distant properties: If you manage your own properties, you're pretty much limited to investment opportunities within a tight radius of your own home. By hiring Smart Choice Realty, you can take advantage of investment deals in any location you wish.
Maximizing the profitability of your time: By having Smart Choice Realty take care of the day-to-day aspects of running your income property, your free to spend your time identifying further investment opportunities or otherwise furthering your career.
Maximizing the profitability of your money: Between keeping your property at market rent, providing quality vendors at a fair rate and the time it takes to manage rental property the cost of property management is minimal. Property management fees are generally less than the money you spend doing it yourself.