Maximizing and maintaining monthly profits on your rental property begins with choosing reliable tenants and following a step-by-step move-in process. While it may seem simple to quickly choose tenants, move them in, and begin collecting rent, doing so requires knowledge and careful consideration. Approving the wrong tenants can have detrimental impacts on the income generated from your investment, and you will likely find yourself wishing you had been more selective. One of the methods busy or traveling investors commonly utilize to improve the quality of their tenants is real estate management. Baton Rouge property managers examine rental applications on behalf of investors as well as screen candidates for any indication they may cause disruptions either on the property or to your returns.
An Informed Decision
Investment managers put a great deal of effort into helping their clients make the best decisions in terms of renter selection. In addition to helping owners effectively market vacancies on their property, managers also evaluate the background and current financial standing of all interested tenants. With the help of detailed criminal background, past and current employment, credit, and income checks, managers are able to better assist owners with choosing tenants based on their financial reliability and criminal record. This not only helps to secure your monthly profits but protects other renters on your property from a potentially dangerous and disruptive individual.
Move-Ins and Move-Outs
Many of the other services offered through real estate management involve tenant move-ins and move-outs, which can be detailed and time-consuming processes. Once a tenant who matches your criteria is chosen, your manager will assume responsibility for handling the subsequent steps. With new tenants, managers clarify rental agreement terms, perform unit inspections, schedule move-in dates, and collect security deposits and first months’ rent. On the other hand, rental management specialists also oversee tenant move-outs, which generally include issuing thorough cleanings, arranging repairs, changing locks, and advertising new vacancies.
