Hiring a professional property management company in Mobile comes with a lot of benefits, and you should make sure the services you receive align with your expectations.
If you’re new to professional management, you may not know what to expect. A good property manager will ensure you earn consistent rental income and increased ROI over the life of your investment. Most landlords and investors hire property managers to protect their investment and keep their costs down.
A full-service property management company should provide the following services, as well as all the expertise, resources, and advice that you’d want from experienced professionals.
Tenant Placement: Professional Marketing and Screening
To have a successful and satisfying investment experience, you’ll need to place a high-quality tenant. You can expect your property manager to employ a sound marketing strategy which depends on an excellent ability to communicate and an awareness of the local market. You can expect your property manager to understand rental values and competing properties. A management company should take great marketing photos and put your listing on all the popular rental websites that tenants are using. Expect your leasing team to respond to questions and messages and schedule showings.
You’ll need a thorough application and screening process that follows all fair housing laws and checks the entirety of your potential tenant’s background. Expect your property manager to contact former landlords, verify employment and income, and analyze credit and financial information.
Mobile Rental Property Maintenance and Repairs
Property managers will respond to routine and emergency maintenance situations, and they should also make preventative maintenance a priority. Cost-effective maintenance is one of the advantages to working with a property manager. You should expect relationships with preferred vendors who offer discounts and provide outstanding workmanship.
Lease Enforcement, Rent Collection, and Inspections
Enforcing the lease is an important part of property management, and you should expect your property manager to collect rent on time and make sure your tenants are following the terms of the lease agreement that they signed.
A responsive property manager will visit the property at least once while the tenant is in place to ensure there aren’t any unreported maintenance issues or clear problems. You want to know there’s a good relationship in place between your tenant and your management company because tenant retention is important in saving you money.
If rent is late or there are problems with unauthorized pets or other lease violations, you can expect your property manager to address the situation with the tenants and stay on top of things until it’s resolved.
Reporting, Accounting, and Limiting Liability
Full-service property management includes staying up to date on all the laws pertaining to your rental property and your tenants. These include local, state, and federal laws. Landlords can easily make expensive legal mistakes, so you’ll want a property manager who can protect you from disputes, claims, and lawsuits. Regular accounting statements should also arrive, usually when your rent is paid. Good property managers show you the income and expenses associated with your property, and provide all the information you need in a way that’s accurate, detailed, and transparent.
These are only a handful of the things you should expect from a Mobile property management company. If you’d like to talk about the specific things we can do for you, please contact us at IRBY Property Management.