Are you undecided about hiring a company that offers property management services?
Going by the fact that the number of landlords who self-manage vs outsource is split almost evenly, it's understandable that you're not sure what to do. What's not in doubt though is that you've made a sound decision to buy a rental property in Glenview, IL.
The purpose of this article is to show you why hiring a property management service is the way to go. In addition to getting detailed owner statements, you can expect your manager to help you maximize your rental income.
To do that, here's what they'll tackle on your behalf:
Rental Property Marketing
You haven't yet experienced how brutally competitive the Glenview rental market can be. A rental property can stay vacant for months on end. This isn't what you want.
However, if you're self-managing the property, don't be surprised if you struggle to find tenants. That's because, in a tough market, you need to stay on top of your property marketing game.
When was the last time you ran a digital marketing campaign? If you've never, you'll be thankful that you have hired a property management service.
These companies have experienced marketing on staff. They'll launch a marketing campaign that gives your property the exposure it needs to find new tenants.
Tenant Screening
With an effective marketing campaign, rental applications will start streaming in. Out of nowhere, you might have a heap of applications to review. However, that's not even the hardest task. Tenant screening is where you'll break a sweat if you're a DIY landlord.
With a property management service on your side, though, tenant screening is a breeze. The company has the tools and expertise to scrutinize every rental applicant, keeping a keen eye on details such as credit history, employment record, and criminal background.
As a result, you stand a better chance of getting high-quality tenants; reliable people who will pay rent on time, take care of your property, and follow your rental rules.
Property Inspection and Maintenance
Buildings undergo wear and tear, even when nobody is occupying them. As a landlord, you have a legal responsibility to maintain a reasonably safe and healthy living environment for your tenants. This means conducting regular inspections, maintenance, and repairs as needed.
Unfortunately, you might not have the time to perform these inspections, especially if you're an out-of-town landlord. You may also not know what to look for when inspecting a rental building.
A property management service has you covered on that front as well. They have agreements with maintenance contractors who'll keep an eye on your property and catch repair issues before your tenants can notice.
Get More Value Beyond Owner Statements
Every month, quarter, or year, your property manager will prepare owner statements that have a breakdown of the property's revenues and expenses, thus keeping you informed about its financial performance. Beyond that, these professionals will cover every base as far as property management is concerned.
In Glenview, PMI Metro and Suburban is ready to serve you. We're a full-service property management company that's dedicated to maximizing owner profitability.
Contact us to enjoy the benefits of outsourcing.
