For Detroit rental property owners, having to work alongside professional property managers, is the best option to protect yourself, your investment, and your time & money. Working with someone or a seasoned company who has knowledge and experience to make sure your investment is earning in its maximum capacity. You can leave everything from leasing your home to handling maintenance with the property managers – this is their job, which makes things easier for the landlord.
Property managers’ responsibilities are the following:
· Finding a Tenant – During the Leasing Process
o Evaluate the property before advertising
o Recommend improvements or updates to help find good tenants fast and earn more in rent
o Recommend the right price for the property – they already have a deep understanding and be able to compare different properties
o Be able to take high quality photos and share the listing to several mediums
o Your property will be advertised to their website
o Be able to answer questions and schedule showings
Now, when potential renters express their interest to rent the property, the property manager will be collecting and screening applications rigorously.
o The property manager will also be able to check credit, do background checks, and criminal history.
o Also, they can do employment and income verification on your behalf from former landlords and call up references.
o Be able to protect you from legal liabilities.
· Maintenance and Lease Enforcement During the Management Process
o Once a tenant is approved, the property manager will go over the lease and then conduct a move-in inspection to document the condition of the property and be able to collect the security deposit.
o If in case something goes wrong, the property manager will be able to respond immediately.
o They will be the point of contact on the tenant’s concerns.
o Collect rent and will be taking care of any maintenance issues – property inspections, accounting, bookkeeping, and monthly dues.
o Be able to communicate to the landlord on a regular basis.
o Takes care of unexpected situations like evictions, tenants who wants to break their lease, and etc.
o Prepare lease renewals and discuss the possibility of rental increase.
o They will take care of the condition of the home and do their best to keep their best tenants to be retained – saves the landlord money on vacancy and turn-over costs.
So, if you would like some assistance from us, we will be able to help you especially in helping you earn more on your investment property. Call us today!