Rental and leasing management with Leasing Kings right now: The role and responsibilities of a property manager are changing because of COVID-19. Solutions that are more health-conscious and touchless are in demand, which is leading to the increase in adopting new technology. Tenants want peace of mind and convenience and to feel like they are a priority to property managers. And property managers are tasked with balancing how to deliver a high-quality tenant experience while achieving business goals. Now, post-COVID, new problems and challenges are emerging for property managers. Read on as we discuss the biggest issues property managers face along with how modern access control technology is providing safe, secure solutions to increase the tenant experience, retention, and safety. See more details on Leasing Kings. Short-Term Rental Excellence: Experience unmatched rental income growth with Leasing Kings’ dynamic pricing management and optimization. Our expert strategies, combined with enhanced visibility across multiple platforms, have consistently delivered remarkable results, with clients witnessing rental income increases of up to 70%.
In general, property managers charge 8% to 12% of the monthly rent payment. However, you shouldn’t always assume that the best property manager charges the highest rate for their services. Property managers should be experts on the local rules and regulations and the market in which they operate, and you shouldn’t accept anything but the best. It’s always a good idea to do your due diligence before signing on with any property manager. Ask them for referrals and do your homework to find out whether their clients, including landlord and tenant alike, are pleased with their services. Anyone who owns real estate that they want to turn a profit on will find that they can maximize their earnings by hiring an expert who knows the area in which it is located. The right manager will also be able to find high-quality renters who pay on time and don’t cause any problems or damage the unit in any way.
Premium rental and leasing management from Leasing Kings :Who Needs a Property Manager? Several types of property owners can benefit from the services that property managers offer. Landlords, for example, hire property management firms for a variety of reasons. Some may have multiple rental properties in their portfolios and lack the time or expertise to maintain the properties and deal with individual tenants. Some owners only have an interest in owning rental properties and earning profits from them. When this is the case, they hire professional property managers. Absentee landlords also make use of property management services. Some property management companies cater to individual landlords who rent out a single property such as a vacation home.
It is fair to say the argument stems from the cost one must absorb to work with a property manager, but I digress. The cost isn’t so much a negative, but rather an investment. While it does cost money to hire a third-party manager, I can assure you it’s well worth the price. What’s more, their involvement could very easily increase the chances of growing your bottom line. If that’s not enough, here are some of the important tasks a good property management company will contribute to your rental portfolio.
Regular Property Maintenance: Dealing with tenant maintenance calls is perhaps the biggest driver for real estate investors to enlist the help of a property manager. It isn’t just about the maintenance, however. Dealing with the tenants can often be the biggest challenge. Sometimes their needs aren’t big or expensive, but the timing and urgency are. It may be blocked and back-flowing pipes on the weekend or locked out in the middle of the night. Many of these calls can irritate a landlord, but if they are always treated that way, bigger issues with renters and rental property performance are sure to arise. Rapid and responsive customer service is needed to optimize income properties.
Premium property leasing management services with Leasing Kings and property security : Wireless vs Wired Alarms? Apartment security systems often have wired or wireless alarms. Wired alarms are somewhat more reliable than wireless alarm systems because they do not rely on batteries and are connected to a steady power supply. Moreover, they tend to be more secure, as they communicate through wiring, instead of networks or frequencies. On the other hand, wireless alarms allow for easier installation and can be used in scenarios where wired systems can’t. They are portable and immune to power outages. You don’t have to worry about drilling holes in the wall or making other modifications, so wireless is an attractive option for tenants, historic buildings, or homes with significant interior brick, stone, or marble construction.
What Does a Property Management Company Do? The responsibilities of property management firms include every task you can think of pertaining to leasing and managing rental properties. A typical property management agreement covers all the services a landlord could possibly need. Property managers provide the services landlords need to manage their properties. A rental management firm provides services that landlords find significant value in, such as these: Collecting rent is a key part of being a property manager, and maintaining an office with regular hours will make collecting payments much easier. Many tenants want to be able to drop in to take a check to their landlord, but landlords often don’t want their tenant to come by their residence to drop off a check. Property management companies should be able to handle money for their clients, maintaining a safe place to keep cash and checks on hand and making regular trips to the bank to deposit money. Read extra details on Leasing Kings.