Mon – Fri 9-6 EST
Sat-Sun Closed
9465 Counselors Way Suite #200, Indianapolis, IN 46240
Wednesday, 09 September 2015 05:00

Maximize Income For Single-Family Investment Rentals

Importance of Hiring a Property Manager For Your Single-Family Rentals

rental single family homes need property managersHiring a property manager for your single-family rentals is important for protecting your investment and maximizing income. The single-family investment climate is a well-known financial strategy in the U.S.

Say you have purchased or inherited a home, or perhaps you were transferred but don’t want to sell your home yet. From a management point of view, you have two options, either manage the property yourself or hire a property manager to look after it.If you hire a property manager they deal with many issues involved with property management on your behalf.

Property managers handle:

Rent collection

They know how to collect rents from tenants that won’t pay/ can’t pay – something most landlords are not familiar or experienced with.

Tenant selection

Most property managers also screen the tenants before they move in, evaluate their rental history and determine their ability to pay.

Dealing with uncooperative tenants

Sometimes a tenant goes through a loss of job, or a divorce, or some other crisis that turns them into an uncooperative tenant. Property managers are adept at handling those situations and addressing issues related to problem tenants.

Maintenance

Most property management companies offer services of handling property management emergencies 24 hours a day, 7 days a week. They either employ their own maintenance department to look after your property or they have wide access to vendors that are pre-qualified to look after your property issues. These vendors take care of many property issues such as basic carpentry, plumbing, electrical, and roofing.

Vendor selection

Property management companies have a huge list of vendors they have had positive experiences with in the past. Property managers need to obtain good results for their clients and therefore, they take time in choosing the right vendors to work with. In addition, property managers want to keep your property maintenance costs as low as possible and therefore, look hard to find pocket-friendly vendors.

Bill paying – financial reporting

Property managers are required by licensing laws to give monthly financial reports to their clients, it helps the owners to know how their property is performing on a monthly basis.

Tenant discrimination

Property managers focus more on equal housing opportunities. These professionals do not discriminate on the basis of race, color, sex, religion, national origin, familial status, handicap, sexual orientation or source of income. This helps in protecting the landlord from federal, state, county and city fair housing investigations.

Looking After Your Property

Property managers have offices based locally so they can look after your property and your interests when you are not present.

Compliance with laws

Property managers make sure to comply with various federal and state laws. In that attempt they have many forms that meet current regulations that are used in everyday operations of managing properties.

Value

Property managers deliver a great value for the small fee they charge.

Choosing the right property manager

Managing a single-family rental is not easy. If you don’t have the necessary skills, consider hiring a property manager. If you have any questions regarding your single-family rentals, feel free to speak with our mortgage lender.

We, at Rental Home Financing, deliver truly unique solutions that suit contemporary rental property owner. From amazing rates and terms to personalized rental property solutions, we have the right blend of profits and long term sustenance. Call us today at 888-375-7977.

Read 3140 times

Rental Home Financing
9465 Counselors Way
Suite #200,
Indianapolis, IN 46240

 

Fast Online Loan Application
Apply Now!

CALL TODAY: 888-375-7977

About Rental Home Financing:

Rental Home Financing, as the best mortgage lenders we originate rental home loan products and cash out refinance investment property loans as the best investment property refinance lenders. Commercial blanket loans are available with a commercial purpose to suit your needs.

Also, as DSCR loan specialists, we are currently authorized to make such loans in most all areas of the United States. Specific circumstances will determine whether we have the ability approve/close portfolio rental home loans in your state(s). When you are ready to get a mortgage for rental property, we are ready to serve you.

© Copyright 2022 Rental Home Financing. All Rights Reserved.