Do you own a rental property in Houston Texas? If you answered yes to this question, you probably understand how important it is to be a reputable landlord.
Whether you own a single-family rental home, a multi-family property, or a handful of rental units, what your tenants think of you is important. If you're not keeping your tenants satisfied, they won't re-up their lease. Just as importantly, bad reviews will make it difficult to attract new tenants in the future.
We recommend working with a leasing management company to make sure you're providing the best landlord services to your tenants. But it's not just about keeping your tenants happy, it's also about improving your success with your property investments.
Keep reading for the top benefits of working with a least management company.
Draft a Legally Sound Leasing Contract
Having a written lease agreement for your property is non-negotiable. Legally, it will give you leverage to evict tenants or levy fines for any rule-breaking or breaches of contract.
A lease agreement is a legally binding contract between the landlord and the tenant. Here, you can lay down all of your policies and expectations. Leasing management companies can help you create a contract to ensure your best interests are taken care of.
Minimize Time Between Tenants
Vacant rental properties are a landlord's worst nightmare. If you don't have anyone in your rental unit, its costs are coming out of your pocket. This includes things like loan payments, utilities, property taxes, etc.
A leasing and management company has the experience, tools, and expertise, to ensure your properties sit vacant as little as possible. Through rental marketing and tenant screening, they'll put qualified renters in your properties quickly and efficiently.
Maintain and Improve Your Property
In most cases, property investments increase in value. The more valuable your property is, the higher you can charge tenants for rent. Of course, this depends on the way in which you care for and maintain your property.
A leasing management company will complete inspections, maintenance, and repairs to help you maintain and increase your property value. You want both maintenance and inspection services.
Maintenance and repair services are essential to the well-being and satisfaction of your tenants. Inspections are important because not all tenants will report damages immediately (or at all).
The longer some situations exist, the more damage they will cause to your property. Over time, unreported issues could lower the integrity and value of your rental property.
The Cons
In all fairness, we must discuss the obvious downside of working with leasing property management companies. Working with a leasing manager will reduce your total revenue. Each month, you'll be sharing a part of your rent checks with the company you hire to take care of your properties.
For most landlords, the benefits are well worth the costs. If you work a full-time job and/or have multiple rental properties, managing them yourself will be a challenge. In most cases, people are happy to part with some of their earnings because it means they don't have to lift a finger.
Looking for Leasing Management in Houston Texas?
As you can see, there are a lot of benefits to working with a lease management company. In our opinion, they are well worth the costs.
If you need help managing your rental properties in Houston Texas, we're here for you. Contact Precision Realty and Management today to talk to someone about leasing management.
