In light of the current housing shortage, rents are up by at least 8.23% in Ogden, Utah when compared to this time last year. That's good news for you if you're considering renting out an existing or recently acquired investment property.
Rental properties are an excellent way to earn passive income unless you attempt to manage everything yourself. Landlording can be a time-consuming, expensive, and stressful experience.
If you want to maximize your investment properties, hiring an Ogden property management company is a good move. Keep reading to discover why.
1. Best Rates and Tenants
When you hire the services of an Ogden property manager, you'll enjoy superior service from the outset.
For starters, they'll conduct a rental price analysis of your property to ensure you're charging the appropriate rent. Then, they'll market your property in all the right places to ensure you find tenants fast.
A property manager undertakes an extensive interview, background check, and screening process with every applicant. This helps ensure the security of your property as well as reliable rental payments.
2. Enjoy Fewer Vacancies
When your rental property stands empty, it costs you money. Thanks to optimized rent, industry contacts, and excellent marketing tactics, your Ogden property manager helps limit vacancies.
They can also guide you while preparing your home for renters by implementing the most cost-effective improvements to attract higher rentals and better tenants.
Hiring a property manager to deal promptly with queries and maintenance issues keeps your tenants happy. Thus, they're less likely to leave in the first place.
3. Ogden Property Management Includes Maintenance
Overseeing the maintenance and repair aspects of a rental property is a full-time job. When you hire a property manager, they take care of all these details, so you don't have to.
The best property managers have long-standing relationships with local handymen and tradespeople. This ensures you get the best rates when your rental home needs work done on it.
They arrange a routine maintenance schedule to ensure your home stays in great shape and take care of minor repairs before they escalate into serious issues.
4. Eliminate Legal Risks
Property managers have abundant experience dealing with unruly tenants, evictions, and rent collection. They're also knowledgeable about all the latest real estate laws to prevent you from inadvertently falling foul of the Fair Housing Act.
In these ways, an experienced property manager can help you avoid unnecessary and expensive legal costs.
5. Ogden Property Management Benefits Your Pocket
An efficient, hands-on property management company benefits you financially in several ways. These are:
- Maximizing rents
- Effective rent collection
- Budget-friendly repairs and maintenance
- Fewer vacancies
- Expert accounting and tax services
Don't forget the time savings you'll enjoy when you hire a property manager, either.
Hire the Best Ogden Property Management Service
If you want to make the most of your rental property, it's essential to choose an experienced Ogden property management company with a broker at the helm.
Wheeler and associates are proud members of NARPM, with two qualified brokers in charge and decades of experience under our belts.
Get in touch and let's chat about your Ogden property management needs.