If you're a long-time investment property owner experienced in managing your own tenants, you may not be looking for full-service property management services. However, sometimes finding and securing well-qualified tenants can be difficult, especially in a very active rental market where the majority of rental-seekers are driven towards larger property management companies. The good news is that some professional property management companies, like Sweyer Property Management, offer One-Time Leasing Services.
What does this mean? A one-time leasing service is when a professional property management company will take care of advertising your property and screening prospective tenants who apply. There are several advantages to such a service and utilizing it can take a big worry off property owners who may be struggling to find the perfect tenants for their investment homes.
These days, rental searches are almost exclusively internet driven. If a prospective renter searches "homes for rent in Wilmington, NC", for example, the top results are nearly always going to be websites for established property management and real estate companies. If you're advertising on your own, chances are that your property may be way further down the list than most people are going to scroll.
However, if you employ the one-time leasing services of a professional management company like Sweyer Property Management, your property will have all the benefits that go along with being included on our website. This not only gives you the advantage of being able to utilize the company’s “brand power” and having your property more readily available in web search results, but also allows for your home to have great featured photos, a detailed description and oftentimes even a virtual tour.
Not only does using a professional leasing service make your property be more likely to be seen by potential renters, these leasing services also include showing services. If your property is vacant and able to be self-toured, you can take advantage of digital lockboxes that allow interested parties to securely tour the home at their convenience. Don't want people touring your home alone? No problem, professional management companies also have showing agents who can accommodate showing properties to prospective renters, freeing up time you may otherwise have to spend running back and forth to show the property yourself.
In addition to the increased traffic that your property will receive, once a party decides they're interested in renting the home, they'll have to go through the same screening process as any other applicants who were applying for a property managed by the company. This process is often much more thorough than the process you may be able to conduct on your own and includes credit checks and verification of income and rental references. Holding applicants to standardized, stringent rental criteria increases the chances that you'll secure the high-quality tenants your property deserves and find someone who will care for the property as if it were their own and stay long-term. Another added benefit of allowing professionals to handle tenant screening is the assurance that all state and federal fair housing laws will be adhered to, something that may be easy to inadvertently violate if you are juggling the process on your own.
What Happens Once a Tenant is Approved?
Once a tenant is approved through the management company's screening process, a designated property manager will let you know that applicants have met the agreed upon criteria and would like to rent your home. The approved renters are then informed of what funds they’ll need upon moving in (along with any other relevant information) and their contact information is passed along to you.
This is the point in the process at which the property owner officially takes over. You and your new tenants communicate about signing a lease, a lease start date, lease terms, and any other details that may be pertinent to the contract. In some instances, people who self-manage their investment properties have their own leases they like to use. However, if you don’t have a standard lease you use, the team at Sweyer can provide one.
But what happens if your tenants move out in a few years? No problem there – at Sweyer, we keep your information on file and will be ready to put your property back into advertising whenever you may need our services again.
Does this sound like a service that would alleviate a lot of stress and worry for you as an investment property owner? Having experts like those at Sweyer Property Management handle even a portion of the rental management process can take a big part of the burden off your shoulders while allowing you the freedom to manage your property as you please. If you'd like to learn more about one-time leasing services and how they may be a perfect fit for your investment, please give our team a call.