Did you recently buy your first rental property?

This is one of the smartest steps you can take in the real estate industry. You're guaranteed consistent income but only if you make smart investment decisions.

Your first investment decision should be a property management company.

Handling the responsibilities of one property may seem manageable enough, but you'll eventually discover that time is money. Think about the total cost of marketing, tenant screening, maintenance, legal help, and more. It's adds up!

Property managers take on every responsibility so that you can focus on building your rental portfolio. A full-service company can even help you with that through its buying and selling services.

Here's a closer look at the role of a property manager

Get the Property Ready For Tenants

One of the first steps is to prepare a rental property for showings.

You could hire local services yourself. However, you'll likely pay separately for painting, flooring, window replacements, and more necessities.

Alternatively, you could hire a property management company to handle all the repairs and upgrades for you. Property managers build strong relationships with vendors, from plumbers to HVAC technicians. You don't have to worry about booking appointments with these services.

Property managers are self-starters who know what needs to be done to prepare a property for rent. When a rental is on the market, they'll check on the property regularly to ensure the curb appeal and interior are in top shape.

The Tenant Procurement Process

As a rental owner, expect an influx of tenant applications if you live in a high-demand area. You may also experience slow application periods. Both situations necessitate the need for an experienced property manager.

For starters, a property manager will apply rigorous tenant screening standards to filter applications. They use a suite of tools, including calling past landlords directly and national criminal databases. They don't rely on online services that yield inaccurate data like incorrect addresses.

Financial screening filters out tenants who are less likely to pay rent on time or have struggled to pay rent in the past. Screening tools include credit scores, income verification, and bank statements.

Marketing is also a part of this process. Property managers are skilled in writing listing content that appeals to the right tenants while emphasizing the standards expected by landlords. Listings also include high-quality photos, videos, and amenities lists.

Effective Management Leverages Digital Tools

Think of tenants as customers. Customers want convenience, and online tools are helping them save time and money on products and services. Top property management companies understand this need.

Thus, landlords like yourself don't have to hire web developers to build property websites. You just have to direct your tenants to your management company's website. There, they can pay rent online, submit maintenance requests, and view important documents.

There are also plenty of tenant resources to optimize their experience.

Discover the Necessity of Property Managers

Don't let your rental property go to waste. Start generating income now with pristine maintenance, marketing, tenant procurement, and digital tools.

Our property managers are standing by waiting to help. Evernest has a suite of tools for rental property investors like you!