When needing your properties to be sold, finding the right real estate agent is very important. This will determine the success of the over-all transaction. You sure want to make the most out of the deal, right?
As a property manager, your goal is to maintain properties that draw renters. It’s also important to you to keep the cash flow coming in to bring in a profit on your property. Some of your property’s amenities work with you in this, and this is especially true with your property’s swimming pool.
California’s weather makes a pool a definite asset in your property’s list of amenities, as many renters are looking for a property with a pool to cool off and have some fun recreation right outside their door. Keeping your property’s units full year-round is an easier prospect when the pool is drawing renters who will pay more for the luxury.
Your property’s pool increases its value, but property management takes quite a bit of work, and pools require maintenance to keep them in good working order. And, residents expect your property’s pool to be in top shape. Keeping the pool in good condition is essential to maintain resident satisfaction.
With this in mind, a pool cleaning service is an ideal solution. Using a pool cleaning service keeps your property’s pool working correctly with a minimum of headaches. Instead of doing all of the work yourself or having your maintenance team spend valuable hours keeping the pool up, you can leave the work up to a professional company with employees who know the ins and outs of pool maintenance.
A professional pool cleaning service has technicians who know how to give your pool everything it needs. Tasks like maintaining the pool’s chemical levels, changing filters at the right time, balancing the pH so that the water is comfortable for swimmers, and cleaning the area around the pool and the pool itself, are all covered by your pool maintenance company.
In Redlands, California, there are professional companies that have the know-how to maintain your property’s pool. One can be found at http://redlands-poolservice.com/, and this outfit is one of the best choices for a Redlands pool company that delivers professional service.
Local pool cleaning services can maintain your property’s pool for as little as $109 per month. At this price, your pool will receive a total package of care on a monthly basis. Pool cleaning companies can also spot and address any problems like a failing pump or a pH spike, avoiding potentially costly complications with very little attention from you as the property manager.
With professionals keeping track of your property’s pool maintenance needs, you can focus on keeping up your property’s units, keeping them full of residents, addressing resident issues and needs, and doing everything else that a property manager needs to do to keep residents satisfied.
The cost of a professional pool service produces a profit in the long run, as having a well-maintained pool is a real draw for renters. You won’t have to mess around with chemicals, balancing the pH, or any similar maintenance, and you can rest assured that professionals are keeping tabs on your pool’s condition. Using the services of a pool maintenance company is money well spent.
Managing multiple rental properties can yield substantial financial rewards. In fact, the average annual return on investment for a single rental property is over 9%.
There is upside to this average, with ROI potential up to 19%. Despite the financial perks, managing rental properties is sometimes a struggle.
Rental property management can be time-consuming and stressful. Multiple properties only add to the workload.
The good news is that there are tips and tools to help you manage multiple properties. As a result, you will get more efficient and increase earnings potential.
Read on for a guide to managing multiple rental properties in the most efficient manner.
Select High-Quality Tenants
The key to securing the best return on investment is a steady stream of revenue. This means selecting tenants that are creditworthy and pay the rent on time.
There are a couple of ways to ensure that you select high-quality tenants. For starters, run the applicant’s credit history and check for timely payments. A trend of multiple missed payments raises a serious red flag.
Another tip is to ask the applicant for references. Do not settle for personal reference, but rather, ask to be referred to previous landlords. This way, you can get a detailed rental history for the applicant.
Lastly, verify that the applicant’s income is sufficient to pay the monthly rent. Ask the applicant to provide two recent pay stubs and a W-2 form.
Emphasize Preventative Maintenance on Your Multiple Properties
The best way to attract great tenants is to offer great properties. In order to do so, you must keep up with the maintenance on each property.
One good suggestion is to enter maintenance contracts with reputable service men. For instance, hire a plumber to service the hot water heater at all your properties.
Preventative maintenance improves your bottom line in the long run. In addition, it keeps your tenants happy as appliances are operational and in good condition.
Consider Hiring a Property Manager
If the workload to manage several properties becomes too burdensome, hire a property manager to help. A property manager keeps up with the maintenance and collects rental payments.
However, you must take into consideration the cost of hiring a property manager. This addition increases your operating costs and reduces your profit margin.
On the other hand, hiring a property manager may free you up to invest in more properties.
Use Mobile Tools to Optimize Management
There are great mobile apps available to make your life easier. Software tools provide a centralized point for accounting and tenant management.
These apps provide a means to communicate with tenants and schedule appointments. Some apps can pull applicant credit history and background checks.
Wrapping It Up
Managing rental properties is a tough but rewarding business. The key to achieving your ROI objectives is selecting reliable tenants. Placing an emphasis on property upkeep is also beneficial.
Opting to use software apps or a property manager reduces workload and stress. For more information on managing multiple properties, please contact us for assistance.
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