Owning an investment property can be scary, but Milwaukee is a great place to start. The city has a solid rental demand and a high quality of life.
New landlords might find a great property but not know how to manage it. This is where a property management company can help. Professionals know how to protect your investment and maximize your income.
Keep reading to learn how you can benefit from the help of a Milwaukee, Wisconsin property management business.
Only Renting to the Very Best Tenants
You can protect your investment property by finding quality tenants. The best renters are those who pay rent on time, don't cause problems with other tenants, and don't damage the property.
A property management company ensures high-quality tenants through tenant screening. They can help you establish clear criteria for tenant selection without facing a discrimination lawsuit.
They can follow up on a potential tenant's application with a background check, credit check, and rental history check. They will also call references, so you don't have to.
Setting a Competitive Rental Price the Benefits You
Rental rates vary based on location and other factors. A property manager will protect your investment by ensuring a consistent cash flow. To do this, they help you set a fair rental price.
A rental analysis will dictate how you should price your rental compared to similar Milwaukee properties. Most property management companies offer a free rental analysis to show you how much you should earn.
Additionally, a property manager will handle your rental property accounting. They can create an effective rent collection process to bring positive cash flow. They will also track your expenses and try to keep them low.
Handling All the Maintenance and Repairs
Lease terms should dictate what maintenance and repairs a tenant is responsible for. For instance, if they break something due to negligence or misuse, a landlord is not responsible for paying for the fix.
A property manager will help you create clear lease terms. Your responsibilities as a landlord should also be outlined in the lease.
In Wisconsin, landlords must keep the property in habitable condition. Regular maintenance and property inspections will keep you compliant. A property manager can inspect the property on your behalf.
A property manager will coordinate maintenance if a tenant requires a repair outside their scope. They protect your property by only hiring quality contractors who offer fair rates.
Protect Your Milwaukee Investment Property
Your investment property is your baby, and you must take care of it. For the best protection, hire a property management team.
PMI of Greater Milwaukee is a full-service professional property management company with over 20 years of experience. Our range of services allows us to help landlords with various tasks.
We can help protect your investment through tenant screening, competitive rental rates, maintenance coordination, and more. Our key to success is providing prompt, professional, and customized services.
Don't wait to protect your property. Contact us today to learn more about what we can do for you.
