One of the biggest keys to success in SFR (single-family residential) real estate investing is ensuring that your rental property is well managed by an experienced and reputable property manager. That’s why savvy rental property owners turn to an experienced and reputable Austin property manager to handle the day-to-day operations of their asset.
If you’re new to real estate investing, or are ready to stop self-managing your rental property, look for a partner that has your best interests in mind. But, what should you look for in an Austin property management company?
Below, we’ll dive into some of the most important things a property management company should do for their clients.
Market Expertise
A good partner should be able to provide market expertise to all their clients. This means that your Austin property management company should have in-depth knowledge about the local market, especially how it applies to the market in which your rental property lies.
This knowledge will help them guide you on setting the right rental rate, based on comps for similar properties. It’s important that you properly price your rental property so that you can attract the right tenants, and so that you aren’t leaving any money on the table.
Once the property is priced correctly, your Austin property management company should handle listing your property for rent and marketing it so you can attract the best potential tenants.
Resident Relations
Your Austin property manager should also handle all resident relations.
This includes attracting and fully vetting applicants, collecting rent and dealing with ongoing communications. In other words, the property management company should be the intermediary between you — the rental property owner — and your tenants.
Their role also includes ensuring that all tenants are abiding by the lease requirements, and taking proper action if they are not. They might have to handle negotiations if a tenant wants to add a pet, make changes to their roommates or have any other questions about their lease.
Maintenance and Repairs
If you want to have the highest returns in SFR real estate investing, you’re going to have to dedicate some funds to ongoing preventative maintenance. In addition, there will likely come times when you have to make repairs at your rental property.
One of the main benefits of hiring an experienced Austin property management company is they will have contacts and relationships with reputable maintenance professionals. If the air conditioner at your rental property breaks, for instance, they’ll have HVAC professionals on call ready to spring into action quickly.
This will help to protect your valuable asset, so that no further damage happens. In addition, it will keep your residents happy with you, as you respond to maintenance and repair needs quickly and appropriately.
Overall Guidance
There are a lot of nuances in SFR real estate investing. If you make one mistake here or miss one small detail there, you could cost yourself loads of time, effort and, most importantly, money.
An experienced Austin property manager can give you insight into local landlord-tenant laws so that you’re always in compliance. They can help you identify opportunities for improvements to your rental property or about potentially purchasing another unit.
Good property management companies will help investors create a strategy and long-term plan for their investment, and help them reach their financial goals with that rental property.
Partner with 1836 Property Management
A property manager is not just someone you hire to handle a specific one-time job. They should be a true partner helping you succeed in SFR real estate investing.
That’s exactly what 1836 Property Management brings to each and every one of our clients. Our team of professionals have expertise in every facet of real estate investing so that our clients can get the biggest returns from their rental property.
To learn more about how we can help you, please contact us today.
