If you are a new property owner who wants to hire a property management company in St Louis, you may want to know what a property management company will do for you. Basically, a good property management firm will perform a wide range of activities with an aim of ensuring that your property remains profitable. An ideal company will offer comprehensive services to ensure that the requests and needs of tenants are addressed.
Determine the most accurate property rental rate
A good property management firm will perform detailed documentation of the exterior and interior of your property. This includes taking photos. The company will also recommend or make repairs as well as cosmetic improvements with an aim of maximizing rent from your property. It will also gather data on the rental rates in your area and work with you to determine which rental rates are optimal for your property. Additionally, the company will discuss the pros and cons of various policies like accepting pets and allowing smoking with you.
Marketing your property
An ideal property management firm in St Louis should market your property to prospective tenants and also prepare it for rent. This includes cleaning the property and optimizing the appeal of the interior. The company also needs to manicure the landscape to enhance curb appeal. This should be followed by the creation of ads that are tailored to the property and the use of the most appropriate advertising medium. The firm should also work with leasing agents and realtors to help you find the best tenants. It should also provide field calls and a hot-line that prospective tenants can use to reach it. Additionally, the company should provide rental applications to prospective tenants and collect them.
Tenant screening is one of the most important tasks that a property management firm in St Louis should perform on your behalf. This entails performing background check with an aim of verifying income, identify, rental history and credit history of prospective tenants. It also involves grading tenants on the basis of pre-defined criteria. After selecting tenants, the company informed tenants whose applications have been turned down while drawing up the leasing agreement and confirming moving dates. The company is also responsible for reviewing lease guidelines, ensuring that agreements are executed properly and performing move-in inspections.
Rent collection and eviction
The property company that you choose to work with is responsible for collecting rent on your behalf. It also hunts down tenants who make rent payments late. Additionally, the company sends out quit notices and enforcing fees for late payments. When tenants become unbearable, the company is responsible for filing paperwork for initiating and completing lawful eviction. It also represents you as the owner of the property in court.
Repair and maintenance
A good property management company will oversee maintenance and repair of your property. It will also address emergency repair when called upon by the tenants.
Basically, these are some of the services that an ideal property management company in St Louis provides to property owners. Follow us today if you want to hire services of a reputable property management firm in St Louis.