Despite the COVID-19 pandemic, 64% of renters looking for apartments in early March are still on the hunt. Perhaps that’s why the rental market is not seeing the slowdown that some thought it might.
On top of that, 45% report having no concerns at all about how COVID-19 may affect them getting a new place. Listings are flying off the market here in Plano—but if your units aren’t moving, don’t worry! You may just need professional Plano property management to grease the wheels.
Here are a few ways professional property management can make a significant difference in your experience as a rental property owner!
Please note: This article is not legal counsel! When you need real-time assistance, reach out to RentHub Property Management or a skilled attorney.
One advantage a professional property manager has is an in-depth knowledge of the local rental market. With their finger on the pulse of the people—and various other market factors—a property manager can help you gain a significant edge.
Filling an empty unit is easier when you have a property manager help you:
- Get your property ready: By first ascertaining what your renters want in a rental and then checking to make sure your property fits the bill, a property manager can help make sure your units stay at the top of renters’ wishlists.
- Use virtual tours to attract the best tenants: A 3D virtual tour designed by an expert company like RentHub can grab the eyes and imaginations of your potential residents. This helps renters visualize themselves inside the home, and takes them one step closer to signing on the dotted line.
- Double-check your rental rate: If your units aren’t moving, it may be because you need to adjust your rates! A Plano professional can use cutting-edge research and data collection to figure out the rental price “sweet spot” for your area.
Craft the Best Listings
Your listing can be a powerful tool for creating a great first impression. With the right elements, your listing can make renters fall in love at first sight. A Plano property manager can help make sure your listing has:
- Effective photos: You can use a strong image to shape how a tenant views your property. A property manager can help you figure out which element of your property should be emphasized to give it the most traction. They can also help make sure your photos have the kind of quality that pulls in renters’ eyes.
- Create an effective narrative in your listing’s description: A listings expert like RentHub knows what renters are looking for—and can help you choose which details to showcase in the description. They can help you highlight:
- Things that make your listing stand out
- New or updated features of the property
- Places to grab a good bite to eat in the neighborhood.
These are all details your potential renters will be eyeing about your rental property—and your Plano property management professional can help make sure they stand out!
Secure Screening Services
Sometimes, the reason why units are empty is that they didn’t have the right renters in the first place. A property manager can help make sure you get the kind of resident that both pays and stays. Here are some things a property manager can do to help ensure you get renters that will help keep your units occupied:
- Ask the right questions: Simple yes or no questions may provide potential residents with an “easy out.” On the other hand, specific questions that require more detailed answers can get them to reveal the kinds of traits you’re looking for—or want to avoid. However, you have to know how to ask these questions in a way that complies with fair housing law!
- Perform a background check: You can’t be too careful when inviting a renter to live inside your investment. A property manager can help you screen for people with a criminal background, sex offenders, and other people you may want to think twice about before agreeing to rent to them.
- Check renters’ credit history: Payment habits, like all habits, can be hard to break. If a renter has a history of delinquent or absent payments, a credit check can reveal that before you make a decision. On the other hand, renters with excellent credit are more likely to continue that positive trend, making it less likely you end up looking for a new resident in the near future.
Maintaining Renter Relationships to Keep Units Filled Long-Term
Attracting renters and screening them are only two steps on the staircase of investor success. Once they’re in the unit, you need to do whatever you can to keep them happy, so they stay. When it comes to maintaining productive renter relationships, hiring a Plano property manager can help turn that staircase into an escalator.
- Renters tend to warm up to an investor or property manager when they show the right kind of interest and respond to situations in an organized, considerate fashion.
- A property manager has experience with keeping renters smiling—and paying on time. They know how to best handle maintenance and rental concerns, as well as the little extras your renters tend to appreciate!
If your rentals aren’t moving as quickly as you’d like in a hot rental market like Plano, no problem. You might just need the right Plano property manager to help get things moving!
Reach out today to see how RentHub can help you get—and keep—your units occupied. Of course, finding renters for your property is just one of the many services we provide to protect your Plano rental income! If you want to learn more about how property management is one part of your property protection, then you need to download our free resource, Protecting Your Investment Property: A Guide!