Property Management Salt Lake City
Why Use Reeder for Property Management in Salt Lake City?
As investors and rental property owners ourselves for nearly two decades, we understand better than anyone, the special dynamic to successful property management. We treat your property in Salt Lake City as though it is one of our own.
- Advanced and Aggressive Marketing
- Comprehensive Screening and Background Checks
- Expense Control
- Expert In-house Maintenance Personnel
- Competitive Bulk Service Contracts
- State-of-the-art Property Management Software
- Accounting Controls
- Emergency Response
Each owner is assigned a Site Manager, Rental Marketing Specialist, Administrative Assistant, Accounting Professional, and a Maintenance Technician to ensure nothing is overlooked in the protection of your property and ensure maximum return on your investment. Each of your account professionals meet daily in our morning “stand-ins” as well as our weekly “property-outlook” meetings to discuss YOU and YOUR Salt Lake City or Box Elder County property.
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Why Use Our Property Management Company?
Shorter vacancy cycles
Determine the best rent rate – Too high and you are stuck waiting, to low and you’re losing money every month the tenant is in the unit. Determining the optimal price requires knowledge of the local market, data on recently sold comparable, and access to rental rate tools.
Effectively market your property – An experienced property management company has written hundreds of ads and understands what to say and where advertise in order to get a larger pool of candidates in a shorter period of time. Additionally, because of their volume they can usually negotiate cheaper advertising rates both online and offline. Lastly, they are familiar with sales and know how to close when they field calls from prospects and take them on showings.
Better tenant retention
A good property management company will have a time-tested tenant retention policy that ensures happy tenants with lengthy stays in your properties. These kinds of programs require a consistent, systematic approach, which is where a good property management company will shine.
Tighter rent collection process
The way rent collection and late payments are handled can be the difference between success and failure as a landlord. Collecting rent on time every month is non-negotiable. This is the only way to maintain consistent cash-flow. Whether you own one rental property or multiple, you now own an investment and a business. If you own rental properties as a hobby you might be in the wrong hobby. A rental property is one of the most expensive assets you could purchase and should be treated seriously.
You hired a professional real estate agent to help you find the property, you hired a professional banker to finance the purchase, you hired a professional insurance broker to insure it, so why not hire a professional property management company to manage the daily business operations?
A property management company is a mediator between the owner and the tenant. They are there to make sure your business is being run efficiently. The owner avoids the daily challenges that may arise. For example, late rent, evictions, 24/7 maintenance calls, daily showings and marketing the property.
Regarding evictions, there are strict laws concerning the eviction process, and doing it wrong, or trying to evict a professional tenant can be a MAJOR fiasco. A good property management agency knows the law and has a good process for obtaining the best possible outcome given the circumstances. Never having to handle another eviction can be a compelling reason to consider hiring a property management company.
Lower maintenance and repair costs
Good maintenance and repairs keep tenants happy and preserve the value of your investment which make them a very important part of land-lording. By hiring a management firm you gain access to both their in-house maintenance staff, as well as their network of licensed, bonded and insured contractors who have already been vetted for good pricing and quality work. This can translate into significant savings compared to going through the yellow pages and hiring a handyman yourself. Not only is the firm able to get volume discounts on the work, they also know the contractors and understand maintenance issues such that they are capable of intelligently supervising the work.
Personal benefits for owners
Less stress – Avoid having to deal with middle of the night emergencies, chasing down rent, evicting people from your property, tenants who wreck your property, rental scams, lousy vendors, piles of paperwork.
More freedom – Live and invest wherever you want with the constraint of needing to be near your properties. Additionally, you can live and travel without the requirement of always being available in the event that your tenants have a need you have to tend to. Once you have found a good management company, it doesn’t matter if you live in the same state. Some landlords live in other countries and simply collect their check every month without ever seeing the property.
Free up more of your time
Time is money, and for many investors, their time can be more profitably spent in areas other than servicing their properties. When you focus on asset management you’re working ON your business, when you manage your own properties you work IN it. Additionally, you have more time to spend with family or friends doing things you enjoy.