Making money is always a positive, but making passive income is 100% better.
Investors in Bothell, Washington aim to get a high return on their rental properties. This generally means between 5% and 10% of its original value.
Here, we're going to discuss how turnkey property management experts can help you get this return by:
- Generating predictable income
- Reducing stress
- Improving landlord compliance
Read on for some benefits of property management services.
Minimal Vacancy
A turnkey property is an investment that's already ready to rent out when you buy it. This means you won't need to perform initial maintenance or renovations.
Immediate rental means that you won't need to lose money while you wait for it to be in good condition. You can start turning a profit right away.
Property managers also reduce vacancy over time with pre-existing connections with cleaning and maintenance crews. You won't need to look for these services on your own between tenants.
In the end, this ensures that the property retains its long-term value and doesn't depreciate over time.
Predictable Profits With Turnkey Property Management
Less vacancy means that you'll get money more predictably. Turnkey properties are also already in marketable condition when you get them. This makes it easier to:
- Estimate rental income
- Determine probable appreciation
- Be consistent about marketing the property
But turnkey property management ensures that you'll also get predictable profits with:
- Automated rent collection
- Reminders of lease renewal
- Automatic sending of new leases for tenants to sign
- Fast and efficient screening for new tenants
You'll retain tenants who pay rent consistently and find new ones fast when needed.
A Hands-Free Approach
Hassle-free property management also saves time. Investment property solutions handle all aspects of a property, including:
- Leasing
- Drafting legal documents
- Screening tenants
- Dealing with maintenance requests
- Seasonal maintenance
- Sending out reminders for rental payments
- Collecting rent and getting it to you
This can reduce stress and make your passive income truly passive. You also won't need any special expertise to turn a profit as a landlord.
Better Long-Term Tenants
Turnkey property management teams also help find better tenants. Washington managers look into:
- Credit scores
- Past landlord references
- Income
- Eviction history
- Criminal records
This ensures that we get the right renters for your property every time.
Plus, comprehensive management services mean that tenants remain happier. Their requests are handled faster and they feel heard. This means they're likely to stay longer.
Compliance With Real Estate Laws
You can also remain compliant with Bothell regulations as you grow your real estate portfolio. This is because property management teams draft and negotiate leases with tenants.
We cross all the i's and dot all the t's to ensure that lease terms are legally binding. You won't need to worry about losing money because of an unforeseen technicality.
Manage Your Bothell, Washington Property the Right Way
Now that you know some reasons to invest in turnkey property management, it's time to start managing your real estate portfolio the right way.
PMI Equitas is committed to helping Bothell landlords make the most of their properties and generate a high ROI.
Get a free rental analysis to learn how much you could profit from your rental unit!
