There are over 115 million renters in the US. If you own Michigan real estate, you have a chance to generate income from your property! However, managing a rental property alone can steal time from your already busy schedule.
Instead of doing it alone, consider relying on full-service property management services. With help, you can generate income without wasting valuable time.
Not sure if management services suit your needs? Read on to discover how property managers can help you today!
Find and Screen Tenants
If you don't have a digital marketing strategy in place, there's a chance potential renters aren't finding your rental property. Using outdated photos or cookie-cutter descriptions won't appeal to potential renters, though. Instead, you need to consider what renters in Michigan are looking for.
Experienced property managers know how to find and appeal to renters.
For example, they can take beautiful photos of your stunning rental property. Using these photos, they can create virtual tours. Renters can explore the unit without scheduling an in-person tour.
Virtual tours will save you time and help you focus your attention on people with a real interest.
Your property managers can also screen tenants. They can complete a thorough background check to help you avoid problematic individuals. Tenant screening will help you avoid people who pay late.
Screening tenants ahead of time will give you peace of mind.
Maintain Your Property
If you own Michigan real estate, you'll want to maintain your property. A beautiful, cared-for property is more likely to attract renters. Your property managers can help by hiring the best vendors in Michigan.
When your renters have a maintenance request, it's important to respond quickly. Otherwise, frustrated renters might refuse to renew their leases. Your vacancy rate could increase if your property isn't well-maintained.
With property management services, you can prepare units for future tenants and protect your investment.
Avoid Legal Issues
The best property managers remain informed about federal and state laws. They can help you navigate new legislation to ensure you avoid fines. You can remain compliant to avoid legal issues down the road.
You can also gain a better understanding of eviction laws. When necessary, your property managers can help you evict unruly tenants.
Save Valuable Time
Over 70% of property managers perform inspections, prepare leases, and advertise. Allowing a property manager to handle these tasks will save you valuable time.
Whether you're building your investment portfolio or working a full-time job, your time is important. You shouldn't have to waste it juggling mundane administrative tasks. Outsourcing these responsibilities will allow you to spend time on what matters.
Your property managers can handle a range of tasks. These services include:
- Marketing
- Accounting
- Evictions
- Rent collection
- Tenant screening
- Maintenance
Choosing a full-service property management company will ensure efficiency. It can also save you money long-term.
Choose Full-Service Property Management
You don't have to manage your Michigan real estate property alone. Instead, consider requesting full-service property management services. With help, you can generate income from your investment property with ease.
Want to experience these benefits firsthand? We're here for you.
Contact the PMI Great Lakes property managers for help with your rental property!
