Did you know landlords make an average of $97,000? If your revenue as a property owner is less, it's time to evaluate how you operate. With the right property management tips, you can maximize your earning potential.
Not sure how to better manage your homes for rent? Read on to better manage your properties with these landlord tips!
Update Your Rental Homes
Ensure your rental properties stand out among other Phoenix rentals. Choose renovations that make the property attractive and functional. Upgrades that can improve the property's value include:
- Fresh coats of paint
- New kitchen countertops
- Backsplash
- New kitchen cabinets
- Bathroom shelving
- Updated curb appeal
- New vinyl or hardwood floors
- Open floor plans
Consider updating the amenities. Add storage space, central A/C, new kitchen appliances, and more parking options. You can also add a washer and dryer to the unit.
After improving the property, take high-quality photos to highlight these changes. These eye-catching photos will strengthen your digital marketing strategies. Potential renters will see the value you're offering before scheduling a tour in person.
Optimize Your Rental Listings
Your properties for rent won't generate interest if Phoenix renters can't find them online. Optimize your rental listings. They should include:
- High-quality photos
- Video tours
- A compelling headline
- Language relevant to Phoenix
- A list of amenities or special features
- A detailed description of the property
- Your contact information
- A strong call to action
Use storytelling language to grab the renter's attention. Help them imagine living in your beautiful rental home.
Create digital marketing campaigns to ensure renters find your long-term rentals online. These strategies include social media marketing and paid advertising. Generating more online visibility will lead to more applications.
Screen Applicants
Some landlords feel pressured to fill vacancies as soon as possible. Don't select renters without screening your options. Otherwise, you may choose tenants who fail to pay rent or damage your rental homes.
When screening applicants, check their credit scores, criminal backgrounds, and references. Verify their employment and ability to afford rent. Avoid any renters with a history of evictions.
Complete Maintenance
Schedule preventative maintenance and routine inspections. You can catch minor problems with your houses for lease before they worsen.
Allow tenants to submit maintenance requests online. Fulfill these requests quickly to improve tenant satisfaction rates. If the property is crumbling around them, tenants likely won't renew their leases.
Hire a Property Manager
If you want to maximize your profitability as a landlord, ask for help. Hire a full-service property management company.
They can streamline processes, improving your efficiency. For example, their property management software can simplify rent collection and maintenance requests.
Choose a company with years of experience in the Phoenix market. Leverage their expertise to gain a competitive advantage.
Effectively Manage Homes for Rent
You no longer need to manage your homes for rent solo. Instead, hire a full-service property management company in Phoenix. Their services and expertise can help maximize your earning potential.
Our team at Real Property Management Phoenix Valley can remove the burden of property management. We have over 25 years of experience managing 2,000+ properties valleywide.
Trust our 88% retention rate and 30-day notice guarantee. Request a free rental analysis today!
