Owning investment properties can be exciting and rewarding, but it also comes with its own unique set of challenges. Many owners find themselves living fast-paced day-to-day lives, wearing many hats and juggling seemingly never-ending responsibilities. Continue reading about the most common pain points of property management in Baton Rouge and how a full service property management company like PMI Vivo can resolve them.
1. Finding (and Keeping) Quality Tenants
We hear it from our property owners all the time – a good tenant is hard to find! The challenge of screening prospective tenants can be time-consuming and hit or miss. Plus, after you find the perfect tenant, how do you make sure they stay long-term?
How PMI Vivo Can Help
We can take the stress of finding quality tenants off your plate by providing a tried-and-true screening process that includes a background and credit check and assesses each prospective tenant based on criteria that tells us if they are the right fit for your property. We’ll always answer four critical questions for each prospective tenant:
- Is the applicant who they say they are?
- Can the applicant afford this property?
- Does the applicant have a history of paying their bills?
- Will the applicant be a responsible resident and take care of the property?
With our thorough process of screening, we can guarantee that we’ll find tenants who will decrease the stress of rental property ownership. There are many quality Baton Rouge area renters waiting for the perfect home. Our property management team will help you find them.
2. Property Maintenance
Property maintenance can be the wildcard of rental property ownership. Sure, you can plan for common repairs and future projects down the line, but what happens when you’re blindsided with an emergency repair at four o’clock in the morning or you get a call for maintenance when you’re out of town? Unique maintenance challenges can come here in Baton Rouge, as well. With an increase in flooding, especially in the East Baton Rouge Parish, residential property owners need to be on the offensive when it comes to maintaining and protecting their investments.
How PMI Vivo Can Help
Our property maintenance service answers all those pesky “what-ifs” of property maintenance. With 24/7 maintenance support and an after-hours emergency line, your tenants will never be left waiting for help when they need it, and you’ll never find yourself in your pajamas Googling “flooded basement” in the middle of the night. Tenants can also make non-emergency maintenance requests through our convenient online tenant portal, and you’ll be able to view real-time updates on all maintenance taking place at your property. With local, boots-on-the-ground experts on our team, we can address the unique regional issues that come with residential rental property ownership in Baton Rouge and make life easier for you and your tenants.
3. Time Management
Marketing, maintenance, collecting rent, addressing tenant issues, processing evictions, organizing financials…the responsibilities really never end when you own a rental property. Plus, as you scale up and begin investing in new properties, it can be an even bigger challenge to figure out how to divide your time equally.
How PMI Vivo Can Help
Life’s already complicated. Let us simplify your schedule by addressing the big issues taking up the hours in your day. We’ll handle everything from marketing to maintenance so you can focus on the bigger picture. We can even help you keep your financials in order by taking care of rent collection, paying vendor bills, monthly owner disbursements, monthly statements and reporting, security deposit disbursement, tax statements, and new owner, tenant and vendor setup. We’ll do the heavy lifting so you can enjoy more of the Baton Rouge good life.
4. Profitability
Inflation may be on the rise and interest rates keep creeping up, but according to speakers at Baton Rouge’s premier real estate seminar, Trends in Real Estate, the Baton Rouge market is holding strong. With the real estate market not cooling off anytime soon, your residential rental property can be a seriously lucrative investment and help you scale up with additional properties (and additional profit). However, the management of your properties can play a big factor in profitability. Vacant units, poor advertising, confusion on what to charge for rent and preventable maintenance issues can all eat into your profits.
How PMI Vivo Can Help
When you choose PMI Vivo to meet your property management needs, our top priority becomes your success! We’ll address all the issues that may be affecting the profitability of your residential rental properties and find solutions that optimize your money-making potential. With our full service management, you get a team of local Baton Rouge experts dedicated to solving problems and getting you the maximum return on your investment. We know the Baton Rouge area, so we know how to give you an accurate market analysis to make sure you’re charging the right rent, plus with advertising from marketing pros and maintenance experts at the ready, we will always make sure your property is optimized to make money.
Rental property ownership comes with its fair share of pain points, and the Baton Rouge area has its own unique challenges, but there’s no reason your investment property needs to cause you headaches. Maximize your profits and free up your time by getting comprehensive property management services and enjoy stepping out of the fast lane for a while. Visit our website for a free rental analysis and find out what we can take off your plate.