Huntsville is located in the Appalachian region of northern Alabama. It is the state's most populous city. Contrary to other populous U.S. cities, however, it has the least competitive rental market in Alabama.
According to the New York Times, Huntsville has seen one of the largest increases in new apartments, giving renters a better chance of finding a place to live.
As a landlord, you have to change up some of your rental income strategies when you're in a less competitive market. You might consider leasing-only service vs. full-service property management.
What is a leasing-only service? Keep reading to learn how it boosts rental income and start maximizing your Huntsville property investment!
What is a Leasing-Only Service?
Some property management companies offer a leasing-only service option. It is a good choice for landlords who want to handle the day-to-day management of their investment property.
These tasks include:
- Rent collection
- Maintenance and repairs
- Emergency calls
With leasing-only services, the management company handles everything from tenant placement services to lease signing. Once the tenant signs the lease and moves into the property, the job of the management company is complete.
Benefits for Huntsville Property Owners
Real estate leasing-only service can have many benefits for Huntsville property owners. Learn the benefits of selecting this landlord resource.
Cost-Effective Solution
It is less expensive compared to full-service property management. Landlords can pay only for specific services needed and can handle the other aspects of investment property ownership.
Professional Tenant Placement Services
The tenant screening process can make or break your investment strategy. Getting quality tenants through comprehensive background checks helps to ensure that you fill your property with reliable and responsible tenants.
Efficient Property Marketing
Leasing-only services include marketing the property. The management company will utilize both digital and traditional channels to market your rental.
You'll enjoy faster tenant placement and a reduction in vacancy periods.
Expert Lease Management
You'll get professional lease drafting and execution with leasing-only service.
The lease agreement must comply with local, state, and federal regulations. The property management company will guarantee legal compliance and protection.
Time-Saving for Property Owners
The property management company will handle showings and inquiries from potential tenants.
The leasing process has been streamlined to make it much more efficient.
Ideal Scenarios for Leasing-Only Services
When are leasing-only services appropriate? This type of service is geared toward hands-on landlords who prefer to manage day-to-day operations rather than subbing them out.
It's a good place to start for new investors who are looking for property management tips. It's appropriate for owners who are exploring different rental income strategies.
Is Leasing-Only Service Right for You?
Now that you know the ins and outs of leasing-only service, does it seem like an option that's right for your rental property business? The benefits of marketing, tenant screening, lease management, and cost-effectiveness are invaluable for your investment business.
We at PMI North Alabama are dedicated to providing our clients with excellent professional real estate services and landlord resources. Contact us today through our website or by calling 256.701.8282 to set up a consultation.
