While bad tenants are part of life as a landlord, contending with them can be extremely costly. You'll face property damage issues, lost rental income, and potential legal problems that can put a huge dent in your income.
Luckily, working with an expert can minimize the number of bad tenants you have to deal with!
Here, we're going to talk about whether property management vs tenant placement is the better option for your needs. Read on for a simple property management guide that can keep you lucrative.
The Benefits of Tenant Placement
Tenant placement is a single service. It aims to find high-quality renters for landlords to lease their properties out to.
Tenant placement primarily consists of tenant screening. You look into the rental history, eviction records, criminal background, financial information, and credit scores of potential renters.
This information helps you decide whether the renter is reliable enough to pay you properly. You'll also feel secure that they won't destroy the property or create legal issues for you.
Professional property managers do this with a plethora of professional data-scouring tools. They look into various online databases and provide detailed reports. Property management professionals in Bothell, Washington know how to interpret this information and find great renters.
What Sets Rental Management Services Apart?
Many people think that "rental management" and "tenant placement" are conflicting services. This isn't true at all!
Tenant screening and placement are one service performed by rental managers. The difference is that rental management also features other services. Some include:
- Rent collection
- Accounting
- Reporting
- Maintenance and cleaning
- Eviction management
- Marketing services
- Constant assistance from experts
- Professionals who communicate with clients for you
- Emergency assistance for tenants (so you can rest)
- An easy-to-use all-in-one tenant/landlord portal
Tenant placement takes a more focused approach to one thing while rental management services have several different functions.
When you work with a good property manager, though, you'll get the same attention to detail in tenant screening as you would with a screening-exclusive company.
The Benefits of Choosing Rental Services
Rental management means getting all tenant placement advantages as well as many others.
You don't need to worry about collecting rent or keeping tenants happy with timely maintenance. The management team does that for you.
They also help you implement the best rental management tips for portfolio diversification. They look into the local Bothell market and help you identify new opportunities. They determine competitive, fair, and lucrative rent that enhances the ROI for every property you own.
Plus, integrating all services means that you only work with one team of experts rather than one for every service. All-in-one management is far easier and more organized. Enforcing leases is also simple when experts know legal regulations and rights.
Boost Your Income as a Bothell, Washington Landlord
Now that you know why all-encompassing rental management services are better than simple tenant placement, it's time to begin implementing the best rental management tips out there.
PMI Equitas is committed to helping you find great tenants, manage your portfolio, and maintain great landlord-tenant relationships in the long term.
Get a free comprehensive rental analysis to learn more about how much you can profit from your rental unit!
