There’s no question that getting into the property rental space is a great way to invest your money and turn a profit. However, once you’ve found the right place in the right area, the real work begins. Managing a home with the view of renting it out requires much more work than owners often realise. Not only will you have to spend time finding the right tenant (and vetting them) but there’s paperwork, maintenance, and legal conditions to think about. This is why we always recommend that Rochester landlords find a management company that they can rely on. At Torres Turn Key, we’ve helped all kinds of landlords, from those with a couple of apartments to large portfolios, and every time we’ve seen our clients benefit significantly from our services. With our extensive knowledge and many years of experience, we will ensure that your rental investment works for you, which means taking away the headaches that being a landlord can bring. If you’re still uncertain, here’s a little overview of why we highly recommend using a professional rental management company to take care of your largest asset. Tenant Selection There are several essential things to consider when leasing a property, however, finding the right tenants is near the top of the list. You want to ensure the person living in your home is considerate, will pay rent on time and not disrupt neighbours. While singling out “good people” sounds simple, the sad reality is that it can be harder – and more time-consuming – than you might think. At Torres Turn Key, we combine our many years of experience with our state-of-the-art tenancy database. This tool allows our managers to quickly view the rental history of a prospective tenant so any problems will be flagged straight away. For new renters, that’s where our knowledge and gut feeling comes in, which is well-honed. An experienced property manager will take the headache of interviewing several people away from the landlord, which means you’ll have your place rented as soon as possible. Tenant Retention Once you’ve found the perfect tenant, you’ll want to hold on to them as long as you can. This relies on several things but keeping them happy is important, and not everyone has time for this. Enter the manager. We successfully maintain positive relationships with our clients and their tenants, and we are skilled in negotiating between the two parties. Having a sympathetic ear for both sides is important. A neutral person, such as your manager, is the perfect go-between. Forging a good relationship with your tenant is essential. It means that they’ll be more likely to take good care of your property and if you, as the landlord, need to renovate or carry out any work that may be disruptive, your lodger will be more understanding and flexible. This is also key if you decide to sell your asset later on during a tenancy. Maintenance An ongoing cost of time and money as a landlord is always going to be maintenance. However, a good property manager will ensure that regular inspections are carried out throughout the year and any issues are caught early on. Not only will this ensure the longevity of your property but it will keep your tenant happy too. Keeping your property in top condition also ensures that the value remains stable and, better yet, growing. At Torres Turn Key, we offer our clients our very own approved list of licensed, insured, and skilled contractors. This means that any problem is taken care of, saving you time and money. Legal Knowledge As a landlord, you’ll already be familiar with some of the laws and legislation that preserve the rights of both tenant and owner. However, not only are there lots of laws to keep in mind but new regulations and alterations are common. As a professional management company we’ll protect you from having to plow through updates to legislation and regulation. We keep abreast of all the changes and we will make sure that you meet all the requirements. Our experienced team will confidently advise you on all legal matters and provide peace of mind throughout your investor journey. Market Advice Whether you own a small apartment, suburban house, or huge condo, you’ll want to make sure your investment works hard and the return is positive. This is where expert knowledge of the rental market is important. Many of our clients have busy lives and their property is just one of their revenue streams. They don’t have time to stay on top of the market. That’s where we step in. Our managers have great knowledge of what your property should be marketed for, how best to advertise, and what kind of people will be best suited to your rental. Not only will this keep the revenue income steady but it means reduced vacancy and the costs of advertising are lower. Less Stress! Last but by no means least, a good property manager’s job is to save time and take the stress away from the landlord. In this article we’ve covered just a handful of the responsibilities that an experienced manager will take on so that you have more free time to spend on other ventures and your personal life. Moreover, having a professional on the ground looking after your investment means that you have the freedom to travel anywhere without worrying about your tenants and inspections. Essentially, you can cruise on autopilot with the knowledge that your talented manager is doing the hard work for you. At Torres Turn Key, we know the benefits that we can bring to our clients, which is why we always advise landlords to consider hiring a manager as soon as they’re ready to start renting. If you have any questions or are interested in our services, get in touch with us today!