In a busy city like Houston, managing a large rental property with multiple units is daunting and stressful. If the property isn’t managed properly and with true professionalism, you will likely miss out on your potential to turn your investment into a successful venture. There’s too much competition in the Lone Star State to inactively rent out units to quality tenants.
When you wish to increase your profit by filling vacancies in your rental properties with long-residing and dependable occupants, your greatest key to success is hiring a full service property manager. A full service property manager provides services that cover all aspects of managing a property rental properly. Actually, with all the responsibilities upheld by a professional property manager, many of them are licensed in real estate and/or certified by accredited universities for property management.
The Duties of a Full Service Property Manager
As a property manager providing full service to a property owner in Houston, there is a lot that must be addressed and discussed first. The entire property will undergo an inspection. During this inspection, all damages or issues in need of attention will be documented and cared for. The landscaping and cosmetic appeal will also be minded. The property and all its units must appeal to the audience you wish to attract. Once the property is up to par, an accurate rental rate is determined. Your property manager will use their experience in real estate to compare and research comparable properties in the area before suggesting a fair monthly rate to charge tenants.
Once the property is ready to be advertised, the property manager will go ahead with their marketing plan to quickly fill all vacancies. They’ll have all possible occupants submit an application and a small fee before screening their credit history and criminal background. This eliminates the potential of accepting irresponsible and disruptive tenants onto the property for residency.
Aside from consistently marketing vacancies and finding the right occupants, the duties of a full service property manager will also include:
- Coming up with lease agreements and other pertinent documentation with the aid of legal counsel familiar with real estate
- Collecting all rent payments, deposits and other fees
- Supervising the grounds and keeping all tenants satisfied
- Providing maintenance and handyman services to any tenant in need
- Making sure that the property’s grounds remain clean and safe for everyone
- Managing all aspects of leasing including unit showings and applicant screenings
Full service property management extends far beyond what you have read above. The involvement of a property manager hired to handle the full spectrum of managing a rental property in Houston includes a lot of responsibility and education. Katy Property Management has some of the most experienced and qualified property management services around. To find out more about full service property management, give us a call at 281.398.9844.