New Bedford, Massachusetts is a favoriable place for real estate. You can earn passive income from owning property, but it involves a lot of hard work.
If you're struggling to keep up with your responsibilities as a landlord, a leasing-only service can help ease the load. This service is a step down from full-service property management.
If you are great at managing your property, leasing-only may be right for you. Keep reading to learn the benefits.
1. Save Time and Money
A leasing-only service in New Bedford, Massachusetts, can save landlords time and money. Since this service handles tenant screening, it's a valuable asset to busy landlords.
When you employ these services, your property management obligations are divided. You'll have more time to concentrate on important things that require your attention.
Once the property vacancy is filled, you'll manage the rest. The property manager markets availability, finds and screens candidates, and creates leases. This lengthy process could take you hours, so it's best to outsource.
Plus, you'll be able to avoid a lot of paperwork. If you're like most people, paperwork isn't your idea of a good time.
2. Handles Various Services
A tenant placement service will be well-versed in Massachusetts landlord-tenant laws. This allows them to lawfully handle various services in the local area. To help you with a new rental property occupancy, they will complete:
- Property marketing
- Property tours
- Tenant pre-screening
- Accepting applications
- Application screening
- Tenant background checks
- Lease compilation
Once the lease is signed by both parties, a leasing-only service will collect security deposits and the first month's rent. The leasing service will forward the funds to your account.
Since the rest falls on you, it's important that you pride yourself on tenant communication. Stay up to date on the laws in Massachusetts to prepare for property liabilities, maintenance, and challenging tenants.
3. Higher Quality Tenants
Finding high quality tenants for your rental property is ideal. If you find that you aren't well-versed to handle this task, a leasing-only service can help.
High quality and reliable tenants are more likely to pay rent on time and keep your property in good condition.
Because you have access to better tenants, you benefit from fewer vacant properties. Each day your property sits vacant, you lose money.
A leasing-only service will help you fill vacancies and make sure the time between tenants is as short as possible. With fewer vacant days, you increase your rental income.
Do You Need a Leasing-Only Service?
New Bedford, Massachusetts, landlords might prefer to handle most of their property management tasks. If this sounds like you, you might benefit from a leasing-only service. Doing so can help you find reliable tenants without the hassle.
If you want to outsource all of your property management tasks, you can choose to do so. No matter what you decide, PMI Spruce Tree is here to help.
Our years in property management equips us to be the ideal choice for landlords like you. Contact us today to learn more about our services.