Did you know that Denver, Colorado is one of the top rental markets in the United States? With many professionals flocking to the city, it's no wonder that real estate is a lucrative investment.
If you're a landlord in Denver, you may feel overwhelmed or simply want to expand your portfolio while the market is hot.
This is where full service property management comes in. Read on to learn more about how using a property management company can elevate your rental business.
Outsource Your Maintenance Tasks
Doing maintenance can be annoying or even a downright pain. With a property management company, maintenance coordination is a breeze.
Your property manager will inspect your rental regularly to ensure all of your systems work. They can also connect with contractors to perform the necessary maintenance on your building, so you will not have to do anything.
Gone are the days of climbing up onto the roof or scooting under the sink to make sure everything is in good working order.
Find the Best Tenants
One of the biggest risks of renting out a property is finding good tenants. Their application may look great, but how do you know they will not destroy your property?
A property management company can conduct thorough tenant screening when you have a vacancy. These screenings check eviction records, criminal records, and credit scores.
Good tenants are also more likely to stay in your rental property longer. This will help you save money, as bringing in a new tenant every year has certain expenses that add up.
Expertise in Property Marketing
Next time you need to list your property, leave it up to your property management company.
They will know how to take the best photos to showcase your rental property. They can also craft a listing that uses the right language to attract prospective tenants.
Less Worry About Finances
To operate a successful rental business, you need to be in the black as much as possible. Property managers specialize in knowing how to cut costs and expand your business, so you can bring in more income.
In addition, they can generate owner statements regularly for you to examine your finances. These will show things like net income, cash flow, and what you're spending money on. You will also know if your property is in legal compliance.
Keeping accurate accounting records is essential if you want to know where you stand financially. You can determine if you have enough liquid capital to expand your portfolio, or if you need to sell one of your properties.
Consider Full Service Property Management Today
If you want to take some of the stress off of your shoulders, you should think about full service property management. With its many benefits, it is hard to find a downside.
Are you looking for property management help in the Denver, CO area? Consider PMI Foothills to assist you with all of your needs.
Our experienced team is dedicated to providing seamless service for our customers. Contact us today to get started or receive a free rental analysis.
