According to The Tennessean, Nashville is one of the top cities for renters in the country. The city earned the #20 spot on the list due to its affordable rental prices, large job market, and proximity to local hot spots. This makes Nashville a great place for real estate investors to purchase properties to rent out.
Managing one or more properties can be a full-time job. This blog will discuss why you should partner with a property management company. You can work with experienced individuals who can assist with a wide range of tasks, including lease enforcement and property maintenance.
Easy Rent Collection
The last thing you want to do is spend the end of each month chasing down rent payments. Third-party property management companies handle the collection and processing of rent payments for you.
They'll provide your tenants with everything they need to make prompt rent payments each month. This includes:
- Lease terms
- Payment methods
- Payment due dates
- Amounts owed
What's great about working with these types of companies is they offer programs that allow your renters to pay in ways that are convenient for them. Your tenants can make rent payments through various methods, including:
- ACH transfers
- Credit or debit card payments
Assistance With Lease Enforcement
Maintaining good relationships with your tenants should be one of your top priorities. However, one of the easiest ways for your tenants to view you as the "bad guy" is lease enforcement. While you may be reminding them of items they agreed to when they signed their lease, your relationship can quickly get soured during conversations.
One of the great things about a property management company is they'll handle tenant agreements on your behalf. A few ways working with an agency can benefit you in these types of situations include:
- Handling sensitive problems tactfully
- Stepping in to connect with the tenants on your behalf
- Comprehension of relevant Nashville rental property laws
Tailored Marketing Strategies
You won't attract high-quality tenants if you don't know the best ways to reach them. Property management companies handle the advertising and promotion of your properties on your behalf.
They'll create a comprehensive marketing plan for your available units. This plan will address your target audience and highlight the unique selling points of your property.
Your property management company will utilize various tools and technology to promote your property, including:
- Email marketing
- Social media channels
- Paid advertising
- Search engine marketing
They'll write detailed descriptions and take professional photos of your space, ensuring it grabs the attention of prospective tenants.
Partner With an Experience Property Management Company in Nashville
From lease enforcement to tenant sourcing to advertising, there are many hats property owners have to wear. Being a property owner doesn't give you a lot of time to focus on other things, including your full-time job. Working with a property management company is the easiest way to free up your time and keep your tenants happy.
At PMI Middle TN, we understand how busy property owners can be. We offer a wide range of services, including assistance with the tenant process, rent collection, and accounting. Reach out to our office to book a consultation.
