Did you just purchase an investment property in Hooper, Utah? Or have you had the property for a while but it's not performing according to your expectations?
A property management company holds the keys to your success as a rental property investor. While Hooper has a thriving rental market, it takes effective management of an investment property to transform it into a source of steady rental income.
In this article, we're delving into the specifics of how a property management company will protect your assets and maximize your income.
Finding Reliable Tenants
The quality of tenants can make or break your rental property investing experience. Bad tenants who don't pay rent on time or damage your property will make you incur big financial losses. On the other hand, good tenants will make your life as a landlord enjoyable and stress-free.
This begs the question: where do you find reliable tenants in Hooper?
The truth is good and bad tenants are all over. You just need to know how to differentiate them. Many landlords use tenant screening to find the best tenants, but they're often not well-equipped to do a comprehensive screening.
A property management company knows how to dig into a rental applicant's history and find information it'll use to determine whether a renter deserves to occupy your property.
High Occupancy Rate
A rental property isn't productive if it's not occupied. Your dream is to see it occupied throughout the year, but that's not always achievable. Sometimes a rental can stay vacant for a couple of months, especially when the demand for rental units is low.
However, it's possible to maintain a high (over 90%) occupancy rate. A property management service can help you achieve it.
Even in a tough market, property managers know how to find tenants. Through effective property marketing, they're able to give the unit good exposure to prospective renters.
A high occupancy rate means you'll be in a good position to exploit the property's maximum revenue generation potential.
Rental Evictions
In Utah, hundreds of tenants are evicted every month. A rental eviction isn't a nightmare for just the tenant. Landlords also have to go through a lengthy legal process that costs money.
Unfortunately, evictions are part of the job. Having an eviction protection plan is a smart way to protect your investment from undue losses. A property management firm will draw a plan that suits your property and is compliant with state and local laws.
Plus, if you need to evict a tenant, you can count on the manager to act swiftly and legally and ensure a quick and successful eviction.
Ensure Maximum Investment Property Protection
Your investment property in Hooper needs protection. You have spent a fortune acquiring it, and you want it to pay off. All you need is an experienced property management firm to help protect your assets.
PMI Northern Utah stands ready to offer all the property management services you might need. As part of a national real estate franchise that manages over 100,000 units, we have the experience and technology to ensure your rental ROI blows through the roof.
Schedule a consultation to learn more about our services.
