Why Should an Owner Hire a Rental Property Manager?
Holding property in the Indianapolis, Carmel, and Fishers area can be a great real estate investment, but planning before the lease, locating trustworthy tenants, and maintaining the building can eat into your bottom line in no time. RENU Management is an experienced rental property management company trusted by thousands across the nation. We make it our business to only save you a lot of hassle, but to put you in control of your property through our affordable prices.
If you are debating whether it is a smart choice to hire a rental property management company in Indianapolis, Carmel, or Fishers is a good move, consider the following:
Preparing the Home or Commercial Property for Rent
One of the trickiest parts of being a landlord comes at the beginning. You may need renovations to floor and wall coverings, plumbing and light fixtures and more. It’s necessary to make sure everything is functional and attractive. Depending on the local area, you might also choose to replace appliances and add new amenities to see the highest possible returns.
You will also need to decide on rental fees, whether to include utility payments in your fees and more. And don’t forget to abide by all the rules of your local homeowner’s association or zoning authority. Our property managers have the dedication and expertise it takes to guide you toward profitable strategies.
Showing the Property & Finding Tenants
Once your property is on the market, you need to locate good tenants as quickly as possible. This requires getting the news out that the home, commercial property or unit is available. We use only the most professional yard signage and the best online marketing, including searchable online listings featuring professional photos and compelling written descriptions of your space. Every day your property goes unrented represents profit loss.
You will need to show the property several times, and should plan on no-shows. When a tenant is interested in renting, you need to conduct due diligence to make sure they will care for the property and pay consistently. We suggest comprehensive background checks, including rental history, proof of income, criminal history and credit history. These reports get expensive, even when you ask for application fees, but we have negotiated premium rates with providers.
You also need to make sure you follow the law throughout the process. Most property owners who manage properties themselves aren’t up on legal issues like fair housing laws. Even small problems can become big problems.
Inspections, Maintenance & Repairs
Making money from real estate holdings in Indianapolis requires good maintenance. We recommend complete inspections inside and out while you have tenants, and also follow a regular maintenance schedule. When issues arise, you ought to make repairs ASAP. Our dedicated property managers know how to spot small problems before they become big ones, and we have a network of local contractors available. We are here for tenants 24/7.
Careful tenant screening reduces your risk for running into financial problems, but issues may still arise. The first and best prevention method is to make payments simple for renters. We offer online tools that allow for scheduled online payments and that disburse your funds to you with monthly statements. If we don’t get paid, we know what’s necessary. From getting a hold of renters to filing the correct paperwork in case you need to evict, we get it done. Once the renter is out, we can find new renters.
At RENU Management in Indianapolis, Indiana we aim to help you make money in real estate. Our trained staff has the experience and dedication it takes to help you maximize profit without the stress. Contact us today to discover how our property management services can help you find long-term success.