Landlords earn an average annual income of $97,000 (financial technology company Get Flex). Without the right rental property solutions, however, you may struggle to maximize your profitability. Your rentals could sit vacant, costing you potential revenue.
Before that happens, request turnkey property management in Brainerd, MN. With professional property management tips, you can remain competitive and boost your ROI.
Not convinced you need investment property management? Read on to discover the three benefits of property rental strategies today!
1. Find and Retain Renters
The national vacancy rate has increased over the past two years, reaching 6.6% (industry analytics company IBIS World). Your Brainerd rentals may remain empty if you don't utilize effective property marketing strategies. With property management services, you can reach renters online using:
- Virtual and video tours
- Content marketing
- Search engine optimization
- Social media marketing
- Email marketing
- Paid advertising
The best property manager will help you find reliable renters. They'll develop a tenant screening process to help you avoid problematic individuals.
Otherwise, you may choose renters who break your rules, damage the property, or fail to pay rent. They could cost you potential earnings and cause unnecessary landlord stress. Screening renters can help you find reliable tenants worthy of your trust.
You can retain these renters to improve your occupancy rate. Increasing your retention rate will save you money on tenant screening and vacancies. As your occupancy rate improves, your ROI will, too!
2. Effective Rental Property Solutions
Partnering with an investment property management company will give you access to industry experts. They'll ensure you track the latest real estate trends in Brainerd.
For example, they can help you recognize upgrades that are currently attracting renters. These can include smart home technology and online tenant portals. Tenants can use the portal to submit inquiries, rent payments, and maintenance requests.
Using these effective rental property solutions will help you operate more efficiently. You can use automation to reduce human error and costly mistakes.
You can also rely on your property manager's expertise to complete a rental analysis. Their analysis will ensure you set competitive rates that attract local renters.
3. Maintain Your Investment
Rely on real estate management services to maintain and protect your investment. Your property manager will schedule routine inspections and repairs. They'll ensure your property remains in good shape.
You can use their professional connections to choose reliable contractors at the best possible prices. Choosing the right vendors will save you time and money.
Maintaining your investment property can help you avoid the stress and cost of future repairs. It will also ensure your property attracts local renters. If the property looks neglected, it could deter potential tenants.
Request Turnkey Property Management
Instead of managing your Brainerd property alone, rely on turnkey property management. Their rental property solutions can improve your occupancy rate and profitability.
Trust our team of experts at PMI Minnesota. We use state-of-the-art property management software that allows owners to review their properties' performance in real time.
We provide prompt, friendly, and professional services to help owners maximize their earning potential. Contact us now for a free rental analysis.
