In Tacoma, WA landlords earn an average annual income of over $57,000. This is an excellent salary, especially as you can hire property management companies to relieve stress and perform many important landlord duties on your behalf.
But should you choose rental management or tenant placement services? Before you commit to either option, you'll want to know how they can help you become a more efficient and profitable landlord.
Keep reading to learn all you need to know before making a decision.
Rental Management Services
Rental property management services cover a wide range of activities, all of which offer invaluable assistance to landlords. Here are a few of the most important benefits.
Rental Property Marketing
Marketing isn't as simple as placing a listing online and hoping tenants will get in touch. There is so much competition online that you need to use the most successful techniques. These include using high-quality photos, effective copywriting with targeted keywords, and advertising on the right platforms.
Tenant Screening Services
Tenant screening is vital when choosing the best renter for your property. This will help you confirm that applicants have positive references and enough income to pay rent each month.
By being diligent before you sign a contract, you can avoid problems with potentially troublesome tenants in the future.
Rental Property Maintenance
Dealing with maintenance issues is one of the most common causes of headaches for landlords. At any moment, a tap could start to leak, an AC system could break, or a window could start to let in a draft.
But if you've hired a rental management service, they'll fix these problems so you don't have to become involved.
Rental Property Accounting
Accounting is a key part of lease management, but it can be time-consuming and complex. If you lose track of income and expenditure, this will mean you don't know how much money you're making, or how much you owe in taxes.
A professional property rental manager will ensure your finances are always up to date, and that you can view straightforward owner statements so you know where you stand.
Tenant Placement Services
Tenant placement is much less complicated than rental management. However, it also has its advantages.
Cost Efficiency
As there isn't as much work involved in tenant placement, you can expect a reduced cost. You'll still benefit from expert marketing and tenant screening, but you won't pay for additional services.
More Landlord Control
Handling all your landlord duties yourself offers more control. This may be appealing, but you might find this strategy takes too much time and effort. You'll also not have the benefit of property management experts working each day to help you earn more money.
Contact PMI South Sound
A rental management company can make your life easier by handling every aspect of being a landlord, including tenant placement.
At PMI South Sound, we understand how to take the pressure off your shoulders. We're locally owned and operated, and specialize in helping our clients maximize their property investment profits.
To discuss how our full-service real estate asset management services can help you, contact our team today.
