Managing a rental property of any kind is certainly stressful and time consuming. There are so many different facets that must have your attention if you are to profit from your rental. That’s why many owners of commercial, residential or vacation rental properties in Fresno will hire dependable property management from an agency nearby. This gives you the ability to set your attention elsewhere or even to take more time for yourself and family.
It Begins with an Evaluation…
It all starts with a full evaluation of the property. Detailed documentation including written paperwork and photographs of the inside and outside are taken during this assessment. All repairs, maintenance, and cosmetic improvement recommendations will be given after a walkthrough of the property is finished.
Once the property has been assessed, your management team will research all other comparable rentals in the area. This information along with the results of the evaluation will be used to determine an adequate rental rate. Once rental rates are distinguished, the policies for the property are mulled over. Of course, all guidelines must meet the local, state and federal tenant/landlord laws and fair housing act. Katy Property Management will give you further information and an overview of this process by calling 281.398.9844.
Effectively Marketing the Property
Before you can even think to put the property on the market, it’ll have to be executed successfully. The units may need some cleaning, remodeling and maintenance before they can appeal to potential tenants. Once it is living up to its true potential, you can start advertising the units or property for rent.
Popular Ways to Market Real Estate
- Fliers and posters including the property’s specs, any contact information, and clear, colored photos.
- Place ad listings online and in local print publications
- Hang and place signs around the neighborhood
- Networking with real estate agents in Fresno
- Providing a 24 hour phone line for anyone with questions and interest in the property
- Scheduling weekly showings and periodic open houses
- Providing all possible occupants with rental applications
The Screening, Selection and Move-In Process Explained
The process of screening possible occupants takes some time but is worth every minute. The quality of your tenants is almost more important than the quantity. A dependable tenant will always pay on time and uphold to all agreements of the lease. To find such trustworthy tenants, screening is necessary.
For the screening process to begin, the initial application is looked over and reviewed on a grading system. The applications’ information must meet as much of the property owner and manager’s criteria as possible in order to score higher. Then, verification of the applicant’s identity and income is requested and a review of their credit and rental history is performed.
If tenant meets all stipulations of the property’s written policy, they are asked to come in and sign the lease. Before signatures are gathered, the lease is discussed between the property manager and the soon to be tenant. A copy of the rental agreement is then given to the occupant along with any other valid information. At this time they are expected to hand over the first month’s rent and security deposit. A move in date is then agreed upon and the rental unit will be prepared for the occupants arrival in the meantime.
Performing Maintenance, Repairs and Renovations after a Move Out
You can anticipate that property management will administer all maintenance issues. They'll have a guaranteed and authorized maintenance group prepared to deal with any crisis on the property. All protection measures will be taken to recognize potential code infringement or mischances.
Handymen will repair all issues on the site and will be contracted with the budget limitations in mind. Exterior decorators are additionally accessible if spending plan permits. Obviously, all property maintenance and redesign activities will be given to the most modest yet respectable contractual workers nearest Fresno.
To deal with a high quality, licensed property management agency, give Katy Property Management a call at 281.398.9844. Our customer service representatives will provide you with the tools to move forward in your business venture after scheduling your evaluation. We will take control of your rental properties and make sure you have a steady flow of revenue and earn more profit.