Rental Property Management
Having invested a lot of time and money into purchasing one or more rental property, you are going to want a highly trained and experienced rental property management service to protect the condition of your property and help you get the highest possible return for the investment. If you live in the same area as your rental property or live a thousand miles away, managing your rental property yourself can be a time consuming and difficult task. Managing your rental homes require you to maintain your property in the best possible condition to make it attractive and desirable to potential tenants. Also, you need to find the right tenants to rent your home and take on the task of negotiating the lease to ensure that they understand their responsibilities under that lease.
Then, of course, you need to collect the rent from tenants and deal with late or delinquent payments and possibly go through an eviction procedure if your tenants don’t pay. All of these tasks must be done by local, state and federal laws governing the rental of homes in the area where your property is located. You need to keep accurate financial records for everything concerning your investment property and pay taxes on your profits. According to the RTI Properties Los Angeles Real Estate Market Report 2020, the number of renters is increasing at a very fast pace and rental rates on Los Angeles rental properties are going up 7% a year. Keep on reading this guide to help you manage rental properties you already own or plan on purchasing, so you can get the maximum ROI of your real estate investment.
Our Rental Management Services Include:
Here at RTI Properties, our rental management services include:
Marketing, Advertising, and Tenant Acquisition
For you to make an income from the rental property, you need to keep paying tenants to occupy your home. We use innovative as well as traditional advertising and marketing techniques to create a real buzz regarding your rental property and create a long list of interested potential tenants so that we can find the right long-term tenants for your rental properties to keep that cash flow coming in. We market your rental homes both locally and online to reach as many high-quality potential tenants as possible.
Filling Your Vacancy
When one of your rental property has a vacancy, you want that vacancy filled as quickly as possible with tenants who take care of the property and pay their rent on time. We not only market your apartment rentals using the most advanced marketing techniques, but we also qualify all tenants based on their credit score, income and employment, and a thorough background check. Also, we provide guaranteed rent and eviction coverage for any tenant we qualify to rent your property.
Rent and Fee Collection
One of the most difficult chores that owners of rental properties face is collecting the rent from their tenants. It can be a time-consuming process chasing tenants down to collect your rent and then have to deal with numerous excuses as to why they need to pay the rent late or can only pay a portion of the rent. Our skilled rental property management team can devote the time to chasing down those rent payments, and since we work for you, we take great pride in collecting the full rent you are entitled to as well as any additional fees you are owed.
Tenant Service Request
No matter how good your tenants may be at taking proper care of your rentals, appliances can break, repairs may need to be done, and emergencies can happen that require instant repairs to keep your tenants from being inconvenienced and happy in their rental property. We have a representative on call 24/7 to answer those tenant service requests either by phone or by email so that we can take care of those repairs effectively and swiftly. Years of experience have taught us that handling tenant service requests promptly results in higher tenant satisfaction and longer-term rentals for your property. We deal with repairers and contractors who make the necessary repairs, so you don’t have to worry about anything.
Bookkeeping and Financial Accounting
As part of our rental property management services, we have skilled accountants in our management team. These expert accountants are scrupulous at keeping the books for each of your rentals by recording all income and expenses for your property along with keeping all receipts for collecting rent, maintenance, and repairs for your rental property. As part of our financial accounting service, our accountants prepare monthly reports for you so you can easily track the financial health of each rental home you own. At the end of each year, we send you an end of the year report, so you know exactly how much that investment property has earned for you over the course of a year.
Legal Rights and Responsibilities
Once our rental property managers find an applicant for your unit who meets your qualifications, you will have them sign a lease agreement and get run the lease by a legal advisor. We get to review the lease with your tenant and provide your tenant with a copy of the lease and store your own copy securely. We take care to understand and protect the rights that apply to your tenant once they sign a lease agreement. Our property managers make ensure to comply with all applicable fair housing laws or State-specific tenant laws and obligations.
Rental Property Maintenance Obligations
Our rental property management services make it possible for you to be able to set aside all of your property maintenance worries since we maintain your property for you. Our maintenance services include making frequent inspections of your property and making a note of any needed repairs. During these inspections, we also make sure that your tenants are performing their property upkeep duties according to the terms of their lease. We also handle all of those tenant complaints so you won’t have to suffer any more late-night calls from tenants requesting repairs. Of course, we will deal with any contractors needed to make the repairs and negotiating the best possible price for every repair.
Those are the basics of RTI Properties rental management. If you own one or more rentals and want to make the most out of your investment, then hiring our company for your rental property management needs will help you start making income from your investment property.