Managing your own property can have a host of benefits, with additional income being the most obvious perk. Investors who are new to renting properties may think they can tackle property management on their own. After all, what’s so hard? Put an ad for the property on social media, interview prospective renters, then once a family or individual is decided upon, collect a rent check and occasionally schedule minor repairs on the property.
In a perfect world, this is how it would work.
Unfortunately, property management rarely goes this smoothly, and if you aren’t prepared, before you know it you are losing money rather than earning it.
At Triton Property Management, we do all the legwork for you. Here are some potential pitfalls you will avoid by investing with Triton:
Hands down, one the worst situations a landlord can fall victim to is a “professional tenant.” In a nutshell, these scammers will spin certain state and federal laws to their advantage, citing code violations (such as mold in the bathroom) as a violation of their lease—therefore relieving them of the obligation to pay rent. Before you know it, you are tied up in court, paying thousands of dollars in court fees all while “The renter” is living rent free in your property. A quality property management group will screen tenants, which includes reviewing rental history, credit scores, prior bankruptcies and court dockets, and employment verification. While no one can promise a high quality tenant, Triton has a proven track record of providing tenants who rent longer, pay on time, and put less wear and tear on the property.
- Avoid Late (or non) Payment.
Having a professional property manager makes rent collection streamlined. Renters generally feel more pressure to make a timely payment when a third party is involved, rather than writing a check to an individual. When payment is made to the owner of the property, renters often will press their advantage for paying late (if ever). With Triton, rest assured that we will handle rent payments, and if necessary, eviction.
- We Do the Marketing for Your Rental Property
Triton Property Management will effectively market your property to attract the best tenants. We understand what to say (and where to advertise) to draw the ideal candidates for your property, and our effective marketing strategy also means that you will have shorter vacancy cycles. An empty property clearly does not earn money, and Triton will work hard to determine the best rental rate for your property—ensuring that you are neither losing potential income nor left waiting for a tenant due to over-pricing.
All of these benefits add up to one main benefit to you, and that is less stress! With better renters, on-time payments, and marketing support to keep your property rented, you can rest easy knowing that everything is taken care of!
Additionally, Triton Property Management can assist you with accounting, marketing, tenant disputes, maintenance repair and scheduling, and legal issues.
Call us today, and leave the stress of property management behind you.