Do you want to manage multiple properties? If so then you have come to the right place. This guide will show you what steps you can take to make sure that your homes are always in top condition, with happy tenants.
Market Smart
If you want to juggle a lot of properties at once then you need to make sure that you have an overarching theme. You have to ensure that when people see your property, that they see a solid brand. A strong marketing strategy will work in your favor here. It will help you to ensure that you have as few vacant properties as possible, which can translate to more profit. Your strategy and your brand has to match the audience you are trying to target, however. If it doesn’t, then you may end up struggling to see the results you’re looking for.
Keep your Properties Maintained
Your properties have to speak for themselves. When people visit your property in question, they need to feel as though it is looked after. Dealing with issues as soon as they arise is the best way to ensure this. If you can, make sure that you always have the number of a local roofer or someone who can carry out any repair jobs you may need. Investing in building automation and control systems is always a great idea, so keep that in mind.
Screen your Tenants
Before you allow anyone to sign a lease, you have to make sure that you screen your tenants properly. If you don’t screen your tenants then you risk getting people who are going to tear your property apart. At the end of the day, understanding the tenants you are having in your property will help you to keep everything maintained. While pets can be a very good deterrent for mice, you have to remember that a pet who is not cared for will do way more harm than good so keep this in mind.
Stay Friendly
If possible, you need to be friendly with your tenants. This is even more important than screening them. Building a relationship will pay off, because if they feel as though they can turn to you then they will be way more likely to keep your property in great condition. If your tenants feel irritated or harassed when you talk to them or if they feel as though you are not respecting their legal rights then this will be detrimental to your business. Stay on the right side of the law and be as professional as possible so you can make sure that you do not run into any potential issues later down the line.
If you can be friendly to your tenants then they may even go and spread the word to friends, who might be looking for a new place. This can translate to even more business for you, so keep that in mind as it could make a major difference to your rental income as the years go by.
Hire a Designer
Think about hiring a Design Assistant to help sell or rent your properties for more. Having a designer on board can be a great way to make sure that your properties stand out from the competition. They can help you to create a consistent and attractive look across all of your properties, which will make them more appealing to potential tenants. A designer can also help you to make the most of each property's unique features and layout, which can help you to command a higher rental price. So if you want to maximize your rental income and attract high-quality tenants, hiring a designer could be a smart move.