Is the country's rising vacancy rate causing you unnecessary landlord stress and affecting your profitability? According to US Census Bureau data, the national rate reached 6.9% in the third quarter of 2024. As the rate rises, you may notice more of your Troy, OH properties are empty.
Before that happens, choose full service property management. Professional Ohio property solutions can help you stay competitive. You can attract more renters to improve your occupancy rate and earning potential.
Not convinced you need property management services? Read on to discover the benefits!
Access to Troy Property Experts
The country's rising vacancy rate can make it more difficult to compete with other property owners. Requesting professional rental property management services will give you access to local experts. You can leverage their local experience and expertise to make informed, effective decisions.
For example, your Troy property experts can help you complete a rental analysis. The information they gather will ensure you set competitive rental rates.
If you set rental prices too high, you could deter potential tenants. The rental may remain on the market, costing you potential earnings. If it's set too low, you'll lose monthly revenue.
Choose a rental property management team with years of local experience. They'll help you recognize opportunities and navigate challenges that are slowing other owners down.
Comprehensive Management Solutions
Hiring multiple teams can be costly. Instead, rely on comprehensive management solutions. Choosing full service property management will give you access to everything you need, including:
- Rent collection
- Property marketing
- Evictions
- Maintenance and inspections
- Tenant screening
Working with one team will ensure you develop a detailed, cohesive strategy.
Streamline Property Management Services
Your property managers can use state-of-the-art technology to stay organized and efficient. More property owners are using this technology for:
- Integrated banking
- Electronic lease agreements
- Financial reporting
- Accounting capabilities
- Maintenance tracking
- Document storage
In fact, the global property management software market could grow by 8.9% before 2030, according to Grandview Research. Using this technology can minimize human error and boost your productivity.
Find and Retain Renters
Relying on Ohio property solutions will help you find and retain renters. Your property managers can develop a digital marketing strategy to help you reach potential tenants. They can optimize your online listing to make the property more appealing.
After finding potential renters, your property manager will enforce a detailed screening process. This will ensure you select reliable individuals.
Your property manager can establish a tenant retention strategy. Keeping renters beyond one leasing cycle will reduce vacancies and improve your ROI.
Protect Your Investments
Your Troy property experts can schedule inspections and maintenance to protect your investment properties. Preventative maintenance can reduce the cost of future repairs. Tenant satisfaction rates will improve if you respond to requests quickly, increasing the likelihood of lease renewals.
Request Full Service Property Management in Troy
Managing a rental property alone can become stressful. Instead, consider the benefits of choosing full service property management in Troy. Working with industry experts can ensure your success in today's market.
Our team at PMI Oakridge Management is committed to increasing the value of your property through communication, integrity, and accuracy. Rely on our proven strategies and state-of-the-art technology to maximize your profitability. Contact us today for a free rental analysis.
