Earning an annual average income of over $50,000 as a landlord in Huntsville, Alabama is a terrific way to earn a living. Unfortunately, this dream job can become less appealing if you handle all the day-to-day issues by yourself.
This is when hiring a property management firm can be invaluable. Rather than dealing with the stress that can come with renting out a property, you can leave the heavy lifting to experienced professionals.
Let's find out how a property manager can aid your rental business.
Marketing Your Rental Property
When advertising your rental home, it's important to know how to grab the attention of tenants who may be looking at hundreds of other properties. The key is to create an exceptional listing using high-quality photographs and an intriguing description of your home.
This can be challenging, and a property manager can prepare your listing and market it where it will be seen by potential tenants.
Tenant Screening
Your Huntsville property is an investment, and you'll want tenants to treat it with respect. You'll also want renters to pay on time. While tenant screening can't guarantee you'll have the perfect people occupying your property, it can help you find responsible and reliable renters.
A property manager will carry out a thorough tenant screening process before contracts are signed.
Dealing with Property Maintenance
Maintenance issues can occur at any time, and it's important you deal with them quickly. For example, there could be a broken window letting cold air into your home, which could affect your tenant's health. Or there could be a problem with the electrical system which leaves your renter sitting in the dark.
A property manager will have a network of tradespeople who can attend promptly to resolve these types of problems. By looking after your home, you're protecting your tenant and your property.
Collecting Rent
Your rental income should arrive in your bank account at the same time each month, but this may not always be the case. A tenant may forget to pay, be unable to find the funds, or even refuse to pay.
This may mean you need to contact your renter and ask for your money. A property manager is experienced in having these difficult conversations and can help resolve disputes in a firm but diplomatic manner.
Renewing Tenant Leases
One of the best ways to keep your home occupied is by renewing tenant leases rather than having to look for new renters. When a contract is due for renewal, you can charge the same amount of money if both parties are happy. Or if your property value has increased, you may be able to charge more for the coming year.
By allowing a property manager to negotiate on your behalf, you can maximize your income.
PMI North Alabama Provides Expert Property Management Services
Owning a rental home is only the first step towards making a generous passive income. Hiring a property management company can take you the rest of the way.
At PMI North Alabama, we have decades of property management experience to use to your advantage. We aim to maximize your rental profits, giving you the best possible return on your investment.
Let us help you increase your income from your rental property and get in touch with us today.
