According to market analytics company Truelist, only 45% of landlords manage their properties alone. Are you among them? Without the right rental management solutions, you may struggle to compete in today's saturated market.
Instead, consider using a leasing only service in Minneapolis. Relying on professional property management tips can help you gain a competitive edge.
Not sure how to choose a property management team? Read on to learn how to compare your options today!
Compare Leasing Strategies and Experience
There are over 310,000 property management companies in the US, according to Strategic Market Research. However, some of these companies have decades of hands-on experience. Before choosing a leasing only service, determine how long each company has operated in Minneapolis.
Rely on a qualified, seasoned team. You can use their prior market experience to make informed rental management decisions.
Determine how many clients each company has supported in the past five years. Ask how they helped each property owner accomplish their goals. For example, how did the company maximize their client's earning potential?
Ask what leasing strategies the company would recommend in today's market. Industry experts can help you make informed decisions based on current market trends.
They should mention local neighborhoods and current tenant preferences. You can use this information to complete a detailed rental valuation.
Gauge their level of industry experience and expertise. Confirm that they're aware of landlord-tenant laws in Minnesota. If they're not, continue their search.
Consider Their Rental Management Solutions
Ask each company what rental management solutions they'll provide. Choose a full-service company that can help with:
- Property marketing
- Financial reporting and accounting
- Tenant screening
- Inspections and maintenance
- Evictions
Choosing a full-service property management company will save you time and money later. If you need additional services, you won't need to hire a new company. Instead, you can find all the help you need from one team.
Determine Leasing Services Benefits
Look online for client reviews about each company on your list. Consider the leasing services benefits other clients have experienced. For example, maybe the company:
- Reduced maintenance costs
- Increased occupancy rates
- Maximized profitability
Check for complaints about the company's services, professionalism, or responsiveness. Avoid companies with a long history of complaints behind them. Choosing a company with a glowing reputation will help you feel confident in their abilities.
Compare Landlord Options
Ask each company for an itemized list of their services before comparing your landlord options. If one company charges a premium, question why.
Look for companies that offer professional guarantees. They'll stand behind their services to meet your expectations.
Find a Minneapolis Leasing Only Service Today
Don't rush to choose a leasing only service in Minneapolis. Instead, use these tips to narrow down your options. Choose a team that can provide the property management tips you need to succeed.
Look no further than PMI Minneapolis - St. Paul. We can provide less worry and more opportunity with our effective leasing strategies.
Trust our commitment to add value to your investments through communication, honesty, and integrity. Contact us now for a free rental analysis.
