How many of your beautiful Phoenix investment properties are currently sitting vacant? How many of your tenants are behind on rent? Without help, these issues could cause your landlord stress to boil over.
After all, the vacancy rate in the US is already over 6%. Instead of continuously losing money, hire a property management company.
Not sure if you need help? Here are three signs it's time to request landlord rescue services immediately!
1. Multiple Properties Are Vacant
If you have multiple properties in Phoenix sitting vacant, you're losing thousands of dollars each month. Hire a property management company that offers marketing services. They'll ensure your property listings appear in front of more local renters.
They can use a multi-channel marketing strategy to help your listings generate more visibility and traffic. Ask your property managers if they offer tenant screening services. They'll review each applicant's:
- Credit score
- Criminal background
- Eviction history
- Employment verification
- References
This information will help you make an informed choice before selecting renters. You can avoid individuals who may cause future landlord stress.
2. Property Maintenance Delays
If you're neglecting property maintenance projects, tenants will grow frustrated. They may decide not to renew their lease later. Some renters may move out or take legal action.
Hire a property management company that can handle maintenance for you. Determine if they have professional connections with local vendors. They'll choose reliable contractors to ensure you avoid delays.
Their professional connections can help you save money. You can gather multiple bids to find competitive prices.
Determine if your property management company uses technology to streamline and track requests. You can keep up-to-date about the progress of each project.
Completing maintenance projects will allow you to protect your investments. You can even make informed upgrades to the property. A few upgrades can maximize your earning potential.
3. Rent Collection Issues
Late rent payments will only lead to more financial issues. Unfortunately, renters in the US owe nearly $11 billion in debt. The average arrears is over $2,000.
Simplify rent collection by providing tenants with access to an online tenant portal. Your tenants can pay online, which could reduce late payments.
Use the portal to charge renters a late fee automatically. You won't have to go door to door to collect payments or experience the stress of charging late fees.
If you need help setting up your tenant portal, hire a property management company. Rely on their state-of-the-art technology and proven rent collection strategies. With their help, you can avoid future issues.
Request Landlord Rescue Services in Phoenix
You don't have to take on the stress of managing multiple properties alone. Instead, hire a property management company in Phoenix. Their landlord rescue services will allow you to thrive as an investor.
LHM Realty is Phoenix's premier property manager. Your property is our passion.
We're a family-owned and operated company with years of experience in the industry. Our property management services can help you avoid landlord stress.
We can maximize your rental's potential by offering flexible services that meet your needs. Contact our team today to request our property management services.
