If you want to manage more than one property, hiring the best property management company can take a lot off your plate. Keeping up with the maintenance and repairs of a property is a lot of work. Inspections, servicing appointments, cleaning, and occasional repairs happen throughout the year, which require your time, money, and attention. It’s no wonder many residents enjoy the convenience of renting from a reputable property management company!

Now imagine having to keep up with several rental properties at a time. Plus, you have landlord responsibilities on top of regular HVAC maintenance, dryer vent cleanings, and annual roof inspections. Not only do you need to move residents in and out, you must be responsive to maintenance requests, collect rent, screen rental applicants fairly, do all the lease paperwork, and conduct proper move-in and move-out inspections for each lease period. 

How does a real estate investor of multiple properties do all that work if they also have a full-time job or live out of state? The key to making it work is to hire the best property management company to handle all the big and small details. But how do you find a good one that will maximize your profits and minimize risk? Here are the signs of a good property management company like Marketplace Homes.

What Makes The Best Property Management Company?

When you want to keep your property profitable and in the best condition, you need a property manager that stays on top of routine tasks and knows the best practices to decrease turnover and risk. You’ll know it’s the right one when you don’t have to worry about your residents having access to what they need. You’ll also have peace of mind because the lion’s share of the work is off your plate. 

So go ahead; travel, enjoy life, spend time the way you want, and collect rent checks from anywhere. You worked hard for your investments, and now it’s time to reap the rewards. Look for these signs of a great property management company to experience time freedom.

They Know the Best Practices to Keep Low Vacancy Rates

An experienced property management company knows that landlords save money when vacancy is low. Therefore, it will proactively retain residents instead of finding someone new. After all, even a month of vacancy can mean the landlord paying out of pocket for a potential mortgage payment or utilities.

This is why Marketplace Homes has dedicated rental and customer service teams that reach out to residents at the end of lease periods. By proactively communicating, we maximize lease renewal rates to reduce turnover or vacancy. This efficient process ensures that someone is always on top of keeping your rentals occupied. 

They Will Stick to the Rules

A professional property management company will know real estate law and regulations from A to Z. They will understand how to screen each applicant fairly to adhere to local and national laws about rental applications. This keeps you out of any legal tangles because everything will be handled correctly. 

You don’t have to worry about accidentally skipping an application, doing paperwork incorrectly, or choosing the wrong templates. You also don’t have to wonder what criteria you can use to approve or deny an application. Our real estate professionals will examine objective factors like credit scores, debt-to-income ratio, and any other aspects that predict financial fitness. Also, a professional property management company like Marketplace Homes knows what is required to screen applicants in each state and will ensure that everything is done fairly for the sake of you and your applicants.

You Will Feel Free to Enjoy Life

Whether you are an owner of one property, five, or a large portfolio of investments, having the right property management company on your side will free you significantly from responsibilities that used to burden you. You can go to sleep at night knowing that you don’t have to keep your phone on for a potential late-night maintenance request. Instead, you can rest assured that your property management company has implemented efficient, professional communication methods so residents can make maintenance requests day or night. 

For example, Marketplace Homes makes it easy for residents to submit urgent and non-urgent maintenance requests through online portals and via phone. They also have access to weekend emergency phone numbers for serious issues like a broken heater. This is much better than only relying on one landlord’s phone number! Our teams are dedicated to responding promptly to requests and being as efficient as possible in resolving them. 

You (and Your Residents) Will Feel Connected

When a landlord is pulled in too many directions, response times can be too long for the resident’s liking. However, a full-service property management company has the bandwidth to stay in close communication with landlords and residents. For instance, our property management company invests in customer service and training for responsive pick up times and friendly service. Marketplace Homes has an excellent customer service team that is passionate about reaching residents and responding to their needs. We also make it a priority to keep in touch with landlords and respond to their questions promptly. 

There’s All-Around Professionalism

A good property management company just feels like it’s got its act together. You get an all-around professional feeling when you speak to anyone in the company – from the listing team, property manager, to customer service. Everybody is on the same page, operations are organized, and you feel confident that everybody knows what they’re doing. This happens from experience after a company understands what works the best. 

For example, Marketplace Homes understands that when you have people who are really good at what they do, they can focus on that task very well and do it to satisfaction. This is better than having one person who’s a jack of all trades and a master of none. If you work with a solo property manager who tries to do everything, you may find your wait times to be longer or you might find that one aspect of their service is not to your liking. Marketplace Homes understands this and ensures that everybody on staff works according to their strengths to benefit clients. 

They Offer Something Special

Unlike small-time property management companies, we are a nationwide full-service brokerage with property managers that can assist you in creative ways that solo agents cannot. For instance, Marketplace Homes offers excellent alternatives and solutions like Guaranteed Buyout to help landlords cash out on properties and acquire new builds in emerging markets. We partner with most of the nation’s top 20 Builders so we can offer our landlords and large investors convenient access to new construction homes in emerging markets. 

We also have a list of off-market properties that investors can explore to grow their portfolio without all the competition or bidding wars. This isn’t easily possible when you work with a single agent. We are also a nationwide brokerage, meaning we can manage properties across state lines. Specifically, we are active in over 35 states and counting. 

Working with a nationwide property management company gives you an incredible edge. It allows you to diversify your portfolio to participate in national markets, a known practice to reduce the impact of downturns. Even if one market is slowing down, you don’t have to worry because other investments in another state or city are doing well. If you have a market in mind in which you want to invest, contact us, and we will get to work for you. 

The Best Property Management Company Nationwide

If you need to take a break from managing your investment portfolio, then Marketplace Homes invites you to explore our Property Management Solutions. Come meet our teams and talk about the process of handing over the lion’s share of work to our real estate professionals. To find out more about property management and our other Real Estate Solutions, contact us today. 

Local Broker Information: https://www.marketplacehomes.com/real-estate-license-information/