Some property investors make it their life's work to build and grow a successful rental property business. Others just happen to find themselves owning a property and think renting it out would be a nice way to bring in extra income. Either way, the responsibilities of managing rental properties can become overwhelming—and it's nice to have some help from a local professional.
Hyrum, UT is a beautiful city with small-town ambiance and spectacular mountain scenery. It's gaining buzz as a great under-the-radar place to invest in rental properties. When you're just getting started, having a great Hyrum property management partner in your corner makes the whole process easier—and more profitable!
As you are undoubtedly aware, there's more to owning a successful rental property than simply finding a renter and collecting rent. That's one small part of what our property management experts do. However, we also offer our years of experience, property marketing savvy, maintenance expertise, and the management tools you need to sustainably grow your business. At Reeder Asset Management, we're committed to maximizing your return on investment. Here's how we do it.
Marketing Your Hyrum, UT Rental Property
Successfully managing your Hyrum rental property starts with understanding the local market.
Niche.com recently ranked Hyrum among the best places in Utah to buy a home, but it's becoming a booming location for rentals. That can also make it highly competitive—so it's important to choose a Hyrum property management company with great marketing savvy and a deep understanding of what makes the Hyrum, UT real estate market tick.
- Get a feel for the market: Effectively marketing your rental property involves figuring out who you will be renting to, which is closely tied in with your property's location and amenities. Real estate markets can vary widely from one street to the next. In Hyrum, a growing job market and abundance of outdoor recreation make it a great place to own a vacation rental property and a property that you rent to year-round residents.
- Set the right price: How do you decide how much your property should rent for? It's one the trickiest parts of marketing your property, and setting the rent just right will not only maximize your profits but help keep your property filled. At Reeder Asset Management, we have a detailed rent assessment process to determine the perfect rental rate for your property.
- Capture your audience's attention: Getting your listing out there is one thing. Getting the right people to see it and respond to it is another! This is where the resources of a great Hyrum property management partner can give you an advantage. From crafting a perfectly-worded listing to professionally photographing your property, our experts know how to develop a marketing strategy that will reach your ideal residents.
- Positive Results Guarantee: We're so confident that we can fill your rental property with the right renters that we have a guarantee in place to back it up! With our Positive Results Guarantee, we don't charge setup fees or management fees during a vacancy. Basically, when you're not getting paid, we're not getting paid. That's part of our commitment to you!
Fast and Efficient Maintenance and Repairs
Owning a rental property means taking care of that property. The problem is that keeping up with maintenance and always being ready to respond to emergencies can take over your life.
Even if you own just one rental property, it's a tremendous amount of work. And if your property investment business grows to include multiple rentals, DIY maintenance can be insurmountable. This is another area where a Hyrum property manager can be an amazing resource.
- Caring for your investment: Every rental property is a valuable asset that must be cared for, and maintenance is the key to keeping your investment safe and sound. An experienced Hyrum property management company has access to a deep roster of vendors to handle every maintenance task. We also offer a No Vendor Mark Up Guarantee to ensure you never have to overpay for these services.
- Saving you time, money, and resources: Whether you inherited your property or bought it as an intentional investment, you probably didn't do so with a desire to be a full-time investor. Maintenance can end up becoming a full-time job all its own—especially if you live far from your rental property. Working with our maintenance professionals saves you time, and our efficient preventative maintenance can also save you money by averting the need for more extensive repairs.
- Responding to emergencies 24/7: At some point, it's inevitable. A pipe will burst in the middle of the night, or a furnace will need to be replaced on short notice. As an investor, you need to be able to respond to and make emergency repairs—unless, of course, you have a property management partner to do that for you! Our team at Reeder Asset Management is on call 24 hours a day, seven days a week—so that you don't have to be.
- Keeping renters happy: The success of your rental rests, in large part, on the satisfaction of your renters. As much as maintenance is important for the physical upkeep of your property, it also keeps your residents happy—which makes them want to stay longer and continue delivering their rent on time.
Managing Renter Relations
It's all about your renters! From collecting rent to handling disputes, managing renter relations is one of the most important jobs any investor or Hyrum property manager does.
It starts the moment a prospective renter hands in their application and continues right through the moment they move out. Our Hyrum property management team has years of experience and systems in place to ensure your residents are treated with respect—and treat your property with respect in return.
- Screening your renters: Nobody wants a bad resident—and a successful business starts with keeping problem renters from ever getting their foot in the door. At Reeder Asset Management, we have a thorough screening process, and an Owner Lease Guarantee to back it up. If we place a renter for you, and that resident fails to fulfill their entire lease term, we'll find a new renter for you with no Placement Fee charge. If you choose to allow pets in your rental, we have a pet screening process as well!
- Collecting rent on time, every time: Late rent payments are the bane of many investors' existence, and we understand that collecting rent on time every month is non-negotiable. Part of our focus is on timely and firm rent collection. We provide an online rental payment system that makes it easy for our residents to pay rent and incentivizes on-time payments.
- Enforcing the lease: In many ways, a property management company is a mediator between the owner and renter. We help maintain healthy rental relations by sticking to the lease agreement—and enforcing its terms while making sure that voices are always heard. We also make sure the lease itself is airtight and ensure that all federal, state, and local rental laws are followed.
- Handling evictions: We do our best to avoid evictions as much as possible—it's why we have an extremely low eviction rate. However, in the event that it becomes necessary, you are protected. With our Eviction Protection Guarantee, our attorney will handle it if a renter needs to be evicted for nonpayment of rent—and we'll foot the bill.
Access the Best Hyrum, UT, Property Management!
We've only scratched the surface of how Hyrum property management can benefit your business. We're committed to giving you more freedom and less stress by handling all of the most challenging aspects of being a rental property owner.
Our team is standing by to help whenever you need it! Contact us today to learn more about how you can save money and gain peace of mind when you work with Reeder Asset Management. You can also get started with our free property management analysis.