In 2023, Philadelphia's employment opportunities rose to become the highest they've been in 40 years. This makes the city a big attraction for families looking to rent housing, especially when combined with a great quality of life, good schools, and mouthwatering cheesesteaks.
As a prime investment property destination, Philadelphia is an excellent choice if you want to grow your property portfolio. Do you need all the complications that accompany managing rental units, though?
Hiring an in-house team is one solution, but it's a costly one. Read on to find out how turnkey property management is the simplest option for every landlord.
Enjoy Local Real Estate Insights
Setting reasonable rents involves careful market research and rental analyses to maximize your property's appeal to tenants. An experienced local property manager can offer invaluable insights into this aspect.
Not only will this knowledge help you attract more tenants to your existing rental units, but it can also assist you if you decide to grow your property portfolio.
Analyzing local data can be a challenging task for property investors, but finding investment solutions is second nature to experienced property managers who've been involved in Philadelphia real estate for many years.
A property management firm is well-versed in local laws, too. This helps you stay compliant with the Fair Housing Commission's requirements when vetting and placing tenants.
Save Time and Reduce Stress
Managing a rental property involves far more than finding a promising property and placing good tenants in it. There are many ongoing responsibilities involved with managing your real estate investments effectively.
Turnkey property management services take care of most of these tasks on your behalf, including:
- Lease negotiations
- Rent collection
- Maintenance coordination
- Emergency repairs
If need be, they can help you manage evictions for tenants who violate their lease agreements, too. Most property management firms offer lease protection services to help buffer you against the costs and stress of these proceedings.
When you sign up with a property management firm, you rarely have to worry about these unpleasant situations thanks to their extensive tenant screening methods.
Increase Lease Renewals
Keeping your tenants happy can be one of the most trying and time-consuming aspects of rental property management. Sometimes they reach out for assistance at the most inopportune times.
A property management service uses the latest technology for instant communications with your tenants and can respond promptly to their requests and queries.
This swift service helps increase tenant satisfaction and encourage lease renewals.
Embrace the Benefits of Turnkey Property Management
Property management companies offer a host of services to simplify your landlord responsibilities. They can help you set market-related rents, preserve your property's value, and limit costly vacancies.
PMI Greater Philadelphia is a full-service turnkey property management company. We can take care of every aspect of managing your investment properties, helping alleviate stress and free up your valuable time.
We're proud of our excellent service record, many positive reviews, and our commitment to maximizing our landlords' ROIs. Explore a simpler way to thrive as a Philadelphia landlord today.
