Maximizing Profitability on Your Rental Housing
Treating a rental property as an investment is important to maximize your return on your rental property. If you are like most landlords and frustrated with constantly being called out to perform repairs, always receiving late payments from your tenants, and taking phone calls at all hours of the night just to see most of your profits eaten up by these expenses then you are not alone. Have you ever had a home you lived in, and you do not fix it up until you decide to sell it, essentially fixing it up for the next homeowner. Well, don’t give your profits away to the next investor or undervalue your portfolio.
One of the best things you can do is to work with a property management company which offers small home repairs and remodeling improvements to increase the desirability of your properties. This not only increases your property value but also makes your house more attractive to renters. The changes can be as simple as replacing outdated countertops to remodeling a master bathroom. Either way, this is going to make your property more in demand for potential renters and subsequently allow you to increase your monthly rent.
Another thing you can do is to provide regularly scheduled maintenance on your properties. It is almost always easier to fix something before it breaks completely rather than waiting for it to fall apart and then you end up placing more. For instance, fixing a leaky plumbing connection is easy on its own but once it leaks onto the floor or bottom of your vanity you will be left repairing much more than just the leak. This is why we offer a ten-part inspection of your home twice a year so that we can catch things before they break.
Finally treat your tenants right and they will undoubtedly take better care of your investment. Sending a winter Holiday card and tasty treat on their birthday lets them know that you do see them as a valued investment and not just a landlord only there to take money. These are just some of the things that make MFH Property Management standout. We do our best to take care of the hard-earned investments of our clients and our goal is to maximize your rental return on investment while sheltering you from those late-night calls.
Contact us to learn more about the services we provide, MFH will be the best investment you can make on your property.