Owning a rental property might seem like an easy way to ensure a steady stream of income. However, once you realize how much work it takes to manage that property, you might think twice about calling it "easy!"
Whether you've just bought your first investment property, or you've inherited a rental and are looking for a way to make it profitable, one thing is for sure: you need a plan! Thankfully, you don't have to do this alone: a Plano property management company can make the process easier.
There's more to owning a successful rental property than simply finding a renter and collecting rent (although that's definitely part of it)! It also requires some marketing savvy, the tools and skills to properly maintain the property, and the management know-how to sustainably grow your business. Here's how the property management team at RentHub can help you grow.
Marketing Your Plano Rental Property Successfully
Plano is expanding! The city was ranked by Yahoo a few years back as one of the fourth hottest zip codes in America. Plano continues to grow, diversify, and expand, and even though it offers great potential to score high earnings on rental properties, it's also an extremely competitive market. That's why it's crucial to choose a Plano property management company that can effectively market your property.
Understanding the Market
Effectively marketing your rental property starts with understanding the real estate market in your area. Plano is booming right now, but markets vary from one neighborhood to another—and even from one block to the next. Effectively marketing your property requires an understanding of who you will be renting to—and your property's location and amenities.
The Price Must Be Right
Set the rent too high, and you'll scare renters away. Set it too low, and you're basically robbing yourself. Finding the right balance is a crucial part of marketing your Plano property!
Reach Your Target Audience
One of the hardest things about trying to fill a rental property is getting your listing out there. This is where having the resources of a great Plano property management company really helps.
Our experts know how to develop a marketing strategy and craft a listing that will reach your ideal residents and compete with similar rentals in the area. We also offer a marketing guarantee that covers the cost of a 3D virtual tour of your home!
- 21-day Guarantee: RentHub guarantees that we will lease your property within 21 days of publishing the listing, or you get one month of RentHub's expert property management services for free. Learn more about our 21-day guarantee!
- Rental Analysis: Setting the rent just right on your Plano rental property isn't easy, so working with a pricing expert like RentHub works in your favor! Our team will perform an in-depth rental analysis to determine the ideal rental rate for your property. It's as simple as that—and it's free!
Fast and Efficient Maintenance in Plano
When you own a rental property, you have to take care of that property. That includes regular preventative maintenance, seasonal maintenance, and responding to emergencies like a broken hot water tank or a leaky pipe. It's a lot of work, even if you own just one rental property!
If you own multiple properties or are thinking about expanding your business, then the amount of work jumps exponentially. When you work with a residential property manager in Plano, the job of maintaining your property becomes so much easier.
Take Good Care of Your Investment
Whether you've inherited a property or made the intentional choice to buy a rental property as an investment, it's a valuable asset that must be cared for. One of the most important steps to protecting your investment is by turning to the routine and seasonal maintenance that an experienced Plano property management company provides.
Save Time, Money and Resources
When you own a rental property, maintenance can take up a shocking amount of your time, to the point that being an investor starts to feel like a full-time job. When you hire the best property management company in Plano, you get that time back. You also save money by working with a company that understands the value of preventative maintenance, and that has the resources to handle maintenance and repairs efficiently.
- Quick emergency response: A great property management team will be ready 24/7 to handle repairs and maintenance emergencies so that you don't have to. When a pipe bursts in the middle of the night, or a toilet needs to be fixed on a weekend, you and your renters can rest assured knowing that it's taken care of.
- Keep renters happy: At the end of the day, well-maintained property is one that your renters will want to live in! That translates to happier, long-term residents who are more likely to stay and continue paying rent when renewal time rolls around.
- Free Maintenance Oversight Guarantee: At RentHub, we make it a point to oversee all repairs at no cost to you. That includes managing the bidding process for the necessary work, as well as overseeing the project from start to finish. Learn more about RentHub's free maintenance oversight guarantee.
Managing Resident Relationships
The success of your rental business completely depends upon your renters. Whether you're screening prospective renters, collecting rent, enforcing the lease agreement, or handling resident disputes, the importance of managing your working relationships with your renters cannot be overstated.
Our Plano property management team has years of experience in this arena, and we have systems in place to ensure smooth relations from the moment an applicant first shows interest in renting a unit under our care.
- Smart-Screen Tenant Guarantee: Great renters are hard to find, and not every resident is as respectful and reliable as their application might suggest. Our extensive screening process, along with our Smart-Screen Tenant Guarantee, helps you avoid problem residents—and protects you in the unlikely event that one gets through the door.
- Timely rent collection: Whether your livelihood depends on rent or you use it more as supplemental income, you should never have to suffer late rent payments. At RentHub, we implement timely rent collection—including providing an online rental payment system—and also offer a Rental Payment Timing Guaranteeto ensure that we process those funds and deposit them in your account quickly.
- Enforcing the lease agreement: Healthy working relationships with your renters rely on both parties to uphold their ends of the lease agreement. Our team is proactive about making sure your residents pay rent on time and respect their lease. We also do our best to avoid evictions as much as possible but offer an Eviction Guarantee to protect you and ease the process if it becomes necessary.
Learn More About What We Do for You!
Along with marketing, maintaining, and managing your property, Plano property management also helps you navigate complex rental laws that might impact your business. At RentHub, we are committed to making your rental business profitable—while freeing you from the day-to-day responsibilities it brings with it.
If you're ready to take advantage of the best property management services in Plano, it's time to get started with our free rental analysis to ensure you're earning what you should from your rental home!