Are you thinking of becoming a rental property investor? If you’re moving and want to rent out your spare home in Logan, Utah, or you’re thinking about buying an investment property, you’re embarking on one of the best ways to build additional long-term wealth through real estate.
We know the idea of managing a property could be overwhelming if you’ve never done it before. If you already own a property, adding more properties can be an attractive way to increase your income—but the workload increases, too.
What if you didn’t have to manage any of your properties on your own? Choosing professional property management services means investors can benefit from real estate income without doing any of the work required to manage rental homes! However, it’s critical to pick the best property management company in Logan for your best chance at success—and income!
How can investors pick the right full-service property management firm? Follow these tips from the expert Reeder Asset Management team!
No one knows the Logan, Utah rental market better than a local property manager. Plus, choosing a local property management company helps the local economy! However, you (and your renters) are the biggest winners when you trust a local team with your properties.
Your property manager needs to understand state and local laws for operating a legal and safe rental property business in Cache Valley. You also need a property manager who understands what local renters look for in a rental, then makes sure your rental properties meet those needs.
When searching for expert property management, Logan, Utah property owners, you should also look for a local company that has feedback.
- Reviews tell you a lot about the company and its services.
- If you’re not sure where to start your search, talk to other property owners for referrals.
- A property manager with an exceptional reputation won’t be hard to find through word-of-mouth.
- You’ll also learn which companies don’t offer the level of service your properties and renters deserve.
Understand How They Work
- Do you want to be a hands-off property owner?
- How often do you want to hear from your property management team?
When talking with potential property management companies in Cache Valley, ask plenty of questions about how they operate. Remember: they will work for you. Find a local property management partner that works well with your style of rental property ownership.
A professional property management company in Logan can customize their interactions with you to meet your needs. While they use established processes for property maintenance and create efficiencies for collecting rent, your property manager should also be able to provide the level of customer service that you prefer as a property owner.
Ask a potential property manager about:
- How you can reach them if you need them (phone, email, or text)
- How often they provide financial reports about your properties
- How frequently they provide updates about maintenance and repairs
- How they communicate with your renters on your behalf.
If you want to trust a company to handle every detail with your permission and only send routine reports and monthly payments, make sure the company you choose is okay with minimal interaction. However, if you want to be more involved in decisions and other details, be sure your property manager is willing to bring you into the loop to meet your expectations.
Choose a Marketing Powerhouse
All of the best property maintenance and behind-the-scenes work won’t make any money for you unless quality renters find and love your Logan, Utah rental home! A property management firm will fail to help you meet your financial goals if they aren’t property marketing experts.
Your rental homes (and your long-term wealth) deserve a marketing powerhouse. You need a property manager who understands local rental rates, knows what Logan-area renters look for in a home, and how to effectively get the word out about your property. Powerhouse marketing includes:
- Setting the right rental rate
- Compelling property listings with professional photos
- Professional-quality yard signage and collateral
- Access to all of the best online property listing websites
- Successful property showing techniques (in-person and virtual).
Ask potential property managers about their marketing practices—and make sure they work! Talk with them about vacancy rates: How long does it take them to rent a property after the previous renter leaves?
Short vacancy times (and high-quality renters) indicate professional property management services and a company that has mastered the art of marketing for rental properties.
Reeder Asset Management Does It All!
The idea of making money through real estate can be attractive, but the amount of work that goes into a successful investment property can turn people away from this long-term wealth strategy. However, there’s no need to lose out on the many benefits of being a real estate investor when choosing professional property management!
The Reeder Asset Management team has more than twenty years of property management experience to offer as a full-service property management firm. Contact us to get started with frustration-free property management.
If you’re getting your property ready for a new renter, then we recommend getting started with your free copy of our Makeready Checklist!