Running a rental property business can result in new challenges every week. One week, you have trouble finding good tenants, and another week, you experience several emergency repair requests.
You need help! You can get help from a property management firm in San Jose. But what services do you need?
Two common ones are tenant placement and rental management. Both are helpful, but each is different.
Continue reading to learn the differences. Then, you can choose the right option for your business.
Tenant Placement and What It Includes
Every tenant is important for your business's success. This factor might be the reason many landlords outsource tenant placement services. This service involves hiring a company to handle the search for great tenants.
Hiring this out is effective for several reasons. First, many landlords are unsure how to attract tenants of good quality. Next, some landlords do not understand how to run effective tenant screenings.
Fortunately, property managers have this knowledge. They understand the techniques required for solid screenings. They know what qualities to look for in the tenants they choose.
Additionally, hiring this out alleviates your work, stress, and duties. You can even hire the property manager to handle other tenant issues, including lease renewals.
Finally, you can skip worrying about how to handle the tenant selection process. The property manager can instantly improve the tenant screening process. The result is better tenants.
Hiring a company to handle this aspect is helpful if you need help finding better tenants.
Rental Management and What It Includes
Rental management is a more comprehensive service. It can include commercial and residential real estate services. It covers all the services your business needs.
Before choosing this service, look for the best property manager. Next, consider what services you want. Generally speaking, rental management covers every duty.
This means it covers tenant placement and all the duties associated with this task. It also includes maintenance for all your properties in San Jose. In addition, it includes repair services.
The good news is it goes beyond these duties. The scope of rental management can also include accounting work.
The property manager can handle your bookkeeping. They'll even provide financial statements as a summary.
They'll also provide other financial tools and information to help you monitor your business. For example, they'll inform you of your vacancy rate and occupancy rate.
Hiring a property manager for rental management is a great solution if you feel overwhelmed with your duties. It's also wise if you need help keeping up with all the tasks or if you need assistance finding better tenants.
Choose the Best Option
You'll see the differences as you compare tenant placement and rental management. Compare these to decide which is right for you. Remember, both are helpful, but one option might be better.
Would you like to learn more? Provident Property Management is a family-owned and operated business in San Jose. We're prudent, focused, and experienced and can help you with all your property management needs.
Get in touch with us today to learn more.
