You’ve invested in property — now what? While leasing is a great way to generate an extra income stream, you don’t want to take any chances when selecting the right team to manage your investment property. There are many moving parts to consider: How do you market your home to attract the right kind of tenant? How do you maximize your property’s income potential? What about maintenance? When you’re looking to lease your property, peace of mind is priceless, which is why it’s critical to hire the right management team to help you navigate all these questions and more.
Here are six questions to ask potential property managers that will help you get the most out of your investment with the least effort.
What services do you provide?
It’s important to determine that a property management team can provide everything you need for a fully managed property leasing service that makes your life easier. For example, do they specialize in just one property type? Do they exclusively offer simple property maintenance and rent collection, or do they do more? AvenueWest specializes in short-term, fully furnished corporate housing for professional clientele with a wide variety of needs, from single-family homes to condos perfect for a solo traveller. We provide a competitive rental pricing analysis, handle all property maintenance, tenant relations, contracts, marketing, showing management, and take care of rent and deposits – we even offer home staging and towel service. Our team goes above and beyond to provide a Signature Experience for homeowners and tenants, even providing city tours and recommendations for guests.
What are your qualifications?
Your real estate portfolio is likely your most valuable investment, so you will want to be selective with who you trust with it. Take some time to learn more about the teams you’re considering for the management of your rental property. AvenueWest is not just made up of corporate housing professionals with local area expertise but is also a fully licensed real estate firm. Our qualifications and 25 years of experience mean we can answer most any question you have, from making sure you’re listing your space at full market value to helping you expand your real estate investment portfolio. Our licensed real estate experts are local to the areas we serve and are committed to making sure our homeowners get the most out of their investment properties.
How do you manage tenants?
Find out what their tenant management service includes. What, if anything, will this management team do to vet tenants who will be living in your rental unit? What are their screening questions? At AvenueWest, we have a policy of thoroughly vetting all potential residents, including screening to ensure income requirements are met as well as doing credit checks as part of our standard procedure. Once a tenant has moved in, we will provide a state-compliant lease document and collect the first month’s rent and any deposits. We arrange final occupancy details and manage the property throughout the lease, including handling all maintenance. We also offer 24/7 emergency assistance to tenants, meaning that no matter what may arise, AvenueWest will be there to take care of it in a timely, effective manner.
What is your pricing strategy for my investment property?
Getting the most value out of an investment property is priority number one for owners so ask if you will be receiving a written market analysis. Because we are local real estate experts, we’re the ideal team to work with if you want to maximize your investment’s value. We provide our clients with a current market analysis and a competitive pricing analysis, allowing us to help you price your property for maximum profitability. Plus, we specialize in one of the most high-value varieties of short-term real estate – fully furnished corporate housing. According to apartments.com, furnished apartments can go for 15%-20% more than unfurnished units.
How do you handle marketing?
In a competitive market, a sign on your front lawn isn’t enough to generate the interest you need in your property. We offer marketing with professional photos and high online, social media, and leasing network exposure. We manage the showing of your unit as well, giving professional tours of each property.
What is your team’s reputation in the property management business?
When you’re buying real estate, the critical factor is location, location, location. When you’re hiring a property management team, it’s reputation, reputation, reputation. It’s crucial to partner with a reputable management firm with the experience to back it up. Over the past quarter of a century, AvenueWest has forged a hard-earned reputation for industry-leading customer service that exceeds expectations. We’re a one-stop-shop for your corporate housing needs. But don’t take our word for it – read customer testimonials here. Leasing can be stressful, so peace of mind is priceless.