Five Things a Property Manager Does For Your Investment You Probably Never Knew
How many times have you met someone with grand plans to invest in real estate and manage the property themselves only to find out they’ve ended up in court, had damage to their rental, or just got plain sick of managing their property and ended up selling it?
Well, at Lava Ridge Property Management, we want you to know: owning a rental property does not have to be a nightmare. As a matter of fact, it can be quite easy and stress free! That’s because when you hire a property manager to oversee your property, we take all the work and heartache associated with renting a property off of the investor, and in addition, apply our decades of knowledge and experience so our investors receive the benefits of investing in real estate, with less stress, risk, and effort.
In fact, we are so committed to handling every aspect of the rental process for our investors, it sometimes is not obvious all that we do to protect your investment, place the right renters onto the property, and maintain each rental. Our seamless system for inspection, maintenance, legal compliance, collecting rent, and finding qualified renters all happens behind the scene so our investors don’t have to deal with it!
Five Ways Lava Ridge Rentals Protects Rental Properties That You Probably Never Knew
At Lava Ridge Rentals, we drive by each of our rental properties monthly to ensure our renters are maintaining the property, meeting HOA standards, and reporting potential wear and tear or hazards located on the property. We also do an annual interior inspection to monitor the condition, care, and wear of each investment property.
Not only is Lava Ridge committed to performing maintenance in a timely manner and addressing potential issues before they become a big problem, we have a huge list of trusted venders, top-rated businesses, and staff to perform maintenance and troubleshoot problems at each of our properties. Not only does this keep investment properties is good shape, it reduces the need for future maintenance and repairs, and overall keeps investment costs—and therefore rents—at bay. From sprinkler blow outs, to chimney cleaning, to backflow testing, we put each property on a maintenance schedule to make sure properties are functioning, compliant, and in sustainable shape.
- Legal Compliance.
Every property at Lava Ridge Rentals 100 percent complies with Fair Housing practices, safety requirements, and federal and local laws. This keeps our landlords out of hot water! It’s tough to know what you don’t know, and new investors may find they are unintentionally violating housing law, local code, or city ordinance. With a well-trained staff and decades of property management experience, we stay abreast of constantly changing rules and regulations, and can offer advice and legal assistance if needed.
- Money Matters.
Rent collection should be seamless and reliable for each investor. That’s why we offer online rent payment for renters, automatic deposits for investors, and a seamless system for collecting and distributing rents. Tenants can see their balance, payments, and due dates online 24-hours a day, 365 days a year. This helps prevent delinquencies and late payments. And, with an average collection rate of 95 percent, we’re happy to say it’s working! Investors will get a monthly statement and automatic deposit into their account with no hassle while being able to rely on us to collect the rent in a timely manner. We also offer financial reporting and end of the year statements so income reporting on your taxes is a snap.
- Tenant Screening.
Finding reliable and qualified renters is just as much an art as a science. With so many years experience locally, we understand the best ways to secure deposits, screen tenants, market properties, and run background checks to find qualified renters.
We will NEVER put a name on a lease agreement just to fill a vacancy! We do in-house qualification checks on all applicants to include income verification, job verification, current and previous rental/mortgage history, credit checks, eviction history, and a nationwide criminal check.
All of these checks are NOT required by law and are commonly overlooked with other property management companies. For example, some companies only run a background check in the state of Oregon, which does not protect the investor from possible red flags for evictions and criminal convictions in other states. We personally oversee all aspects of the tenant screening process and increase deposits for those who do not meet our minimum application guidelines and requirements.
So, is renting properties easy? Heck no! We make a full time job out of it! But our investors would never know just how involved it is. That’s because we are eager to handle all the aspects of managing investor properties—from inspections, to maintenance, to legal compliance, to the financials, to tenant screenings—so our investors can reliably collect rents on their investments while we do everything we can to maintain the property, follow rules and regulations, handle the legal and financial aspects of real estate, and keep quality renters in our properties.
Talking is free! Call us today to see how we can ease the burden of managing your rental: 541-306-5042.
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