If you're reading this, you're probably a property investor in the Plano area. You've likely learned by now that there's always more to learn about managing the properties that you own—even with multiple properties under your belt.
Finding and screening prospective tenants (and their pets!)
Handling interpersonal issues and maintenance emergencies
Facilitating tenant move-outs—and, in the worst-case scenario, evictions.
Depending on how many properties you manage or how much time you have to dedicate, your portfolio can easily slide into a state that makes it more trouble than it's worth!
So, what's the answer?
Where can you turn for the help that you need?
How can you address the everyday issues that suck up all of your spare time?
How can you be sure that your Plano investment properties perform their best?
Fortunately, the answer is pretty straightforward: A Plano property management company can help you maximize your return on investment—and keep your evenings and weekends open on your calendar. However, not just any property manager will do—you have to find the right one for your portfolio. Let us show you why by diving into what a Plano property management company can do for you!
How Can a Property Manager Help?
Property owners hire property managers for any number of reasons.
Some investors got into real estate investing because they were interested in the potential for reliable passive income—and they aren't interested in being a landlord and a contractor.
Some landlords find that they have taken on one property too many, and they can't handle it all anymore.
Others invest in real estate in Dallas suburbs like Plano but live too far away to handle things personally.
Finally, many landlords elect to participate in special programs (like affordable housing programs) and decide that they don't have the specialized knowledge that such programs require.
For these reasons and more, a Plano property management company can support you as a property owner. Here are a few common ways that professional help can make your life easier and your investment more successful—and examples of why you need to choose carefully.
Reduce Vacancy and Find Great Tenants
When your rental properties sit empty, they aren't a success. Ideally, you'd have a tenant selected for your Plano property before the current lease expires—but it's not uncommon for a property to be empty for a few days or weeks. If you're finding that your properties are vacant for long stretches, there might be a few reasons why.
Maybe your marketing is ineffective
Perhaps you've missed the mark on your market analysis
Check your rental rates: have you priced your units correctly?
There are many ways that a property manager can help you tackle these issues concerning your occupancy rate.
An expert property management company will excel at marketing your property.
They'll bring the latest innovations in online marketing to work for you—and help you find leads and tenants quickly.
They'll also handle the screening and placement of tenants; you can be sure that you'll always have excellent residents keeping your portfolio profitable.
Provide a Professional Face for Your Business
When your business is a one-person show, you may have had the experience of tenants taking a lax view of your authority or position.
Tenants may feel like they can slip on rent payments or disregard inconvenient portions of the lease.
They may feel a little less secure—even unconsciously—and this can affect your ability to retain them.
You may also find yourself on the wrong side of the nightmarish "Professional Tenant."
A Plano property management company can give you the formal business facade that can help your image with your tenants. Official letterhead and full-time staff can go a long way towards formalizing your landlord-tenant relationships—and getting ahead of problems.
The landlord-tenant relationship is a complex one, and the legal environment surrounding real-estate and rental properties can trip you up quickly. An experienced property manager will have years of experience and top-notch policies and procedures. Rely on their knowledge, and stay clear of costly evictions.
On-Call Maintenance—Even After Hours
Maintenance problems are a fact of life when it comes to managing properties: even the best made and maintained equipment and appliances have a lifecycle—and will need attention eventually.
Maintaining your propertymeans looking out for the welfare of your investment—and a professional Plano property management company can help you do this. Whether they have their own maintenance crew on staff or the best local contractors on call, either way, you can be confident that your property will be well in hand.
Just as your property management partner provides a professional face for your business, they also provide a professional face for your maintenance services. Working with a property management company in Plano as a long-distance investor is crucial in this regard: the last thing you want to have to do is desperately find a plumber in a different time zone!
Find the Right Fit for Your Portfolio—and Profits!
If you're a property investor in Plano, how can you find a property manager that can provide the support that you need? Thankfully, it's easier than ever to find the right partner for your portfolio! When you download RentHub's FREE guide to finding the best property manager in the Dallas area, you'll gain insider access to the traits you should be looking for in a property management company.
Get started with our guide, then reach out to us! We're here to guide you through the ins and outs of owning successful rental properties.