Sales Slump a Boom to Rental Market

Bad news about the economy is everywhere. The slow-to-recover housing market is a hot topic. But just because many people aren’t selling their homes right now doesn’t mean there aren’t plenty of opportunities in the property management field.

Home ownership has declined from 69 percent in 2004 to an estimated 65 percent in 2012. This slump in housing sales has certainly expanded the rental and property management markets. Property management companies have a real opportunity right now to substantially build their businesses.

Tools for the job
Some property management companies and real estate agencies do not have the innovative systems and strategies in place to take advantage of the opportunities in the rental market. And if you don’t have a polished, organized system, potential clients won’t take you seriously. To bolster confidence and develop credibility, a successful property management company must quickly learn how to expertly complete several essential tasks.

• Determine a fair monthly rent. This is affected by more than the house next door.

• Screen potential tenants. Credit checks and references are crucial, but they are just the beginning.

• Develop proven marketing techniques. Tenants cannot rent properties that they don’t know about.

• Write rental agreements. Legal protection must be ironclad.

• Set fixed maintenance prices. Nobody wants the run-around from questionable contractors.

Each one of these duties can easily balloon into a full-time job. The trick is to manage all of these components without giving up your life or letting go of your hard-earned money.

The good news is that you don’t have to reinvent the wheel. Property management involves a wide variety of duties, but it certainly can be done and done well with the right tools in your toolbox.

Been there, done that
Management One Property Management knows what you need to know. Our 27 years of experience means that we have “been there and done that.” Through managing more than 10,000 properties, we have perfected and streamlined processes for all areas of property management, and we are willing to share this expertise with you. Management One can assist with all levels of property management.

• Real estate brokers needing a company to manage rentals
• An individual property owner seeking a reputable management company
• A property management company looking to buy a franchise

You really don’t have to be an assessor, fact-checker, marketer, lawyer and contractor in order to successfully manage properties. Partnering with Management One offers experience-based knowledge and access to proven techniques, leaving your company poised to capitalize on the real opportunities available in the rental market right now.  

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