RPM Management in Lihue can save you money if you have rental property, which equates to higher income from your investment. Whether you have one unit or many, hiring the services of RPM Management in Lihue will save you money by improving efficiency. With a shortened vacancy period, higher quality tenants, cost-effective maintenance, and timely rent collection and disbursement, you will see your property gain in value and generate higher revenue.
There are a number of proven ways to get a better return on your property investment; let’s have a look at a few:
No vacancies: As rental propertyhas only the rent as its source of income, the primary consideration is to keep rents coming in. Seasoned property managers know that placing responsible tenants in the property will reduce the chance of default or possible eviction proceedings and that quick response to maintenance issues keeps the tenants happy. Happy tenants usually see the unit as their home and are far less likely to leave at the end of the lease. The best way to fill a vacancy is to not have one.
Short vacancies: When a unit does become available, it is imperative the vacancy be filled quickly. To accomplish this, a well tuned marketing plan that includes advertising and quick response to a viewing request of the unit is necessary. A predetermined plan for tenant screening and lease preparation make the difference of a few days; these few days are important in regards to the maintenance of cash flow. By dealing with RPM Management in Lihue, you can be assured you will get the highest possible rent based on local property knowledge and the shortest possible vacancies.
Good tenants: On average, it takes 5 months to evict a tenant who refuses to pay rent or abuses the property. If the monthly rental is one thousand dollars then you can expect to lose five thousand dollars in addition to whatever it takes to put the unit back into habitable condition. This can be avoided with responsible tenant screening and background checks. Screening an applicant’s work history, credit history, and criminal background goes a long way in reducing your risk. A property manager that does not have the resources to qualify a tenant will often choose one who will become a problem.
Maintenance: If you own a car, it demands maintenance; the same is true for rental property. Attention to maintenance is important in maintaining happy tenants, and happy tenants will usually take better personal care of what they see as their home. Routine inspections, 24 hours a day attention to emergencies, and quality service vendors will help in reducing the unknown and keep the unit full.
Effective property management is a complicated and time consuming task. When your rental properties are in the capable hands of professionals, you can be guaranteed the best possible return on investment.
RPM Management in Lihue is part of the Real Property Management group. Along with 200 other offices, the Real Property Management Island Pros bring modern, sophisticated, and efficient property management to Hawaii.