As a landlord, one of your most important tasks is to secure tenants. Of course, your goal should always be to secure reliable tenants who will commit to a lease and consistently pay rent. Unfortunately, this isn't as easy as simply asking for applications and accepting the first one that you receive. And if you find yourself looking to fill multiple rentals or units, this becomes even more complicated.
While marketing a property on your own seems less expensive, especially if you are looking for very few renters, you are much better off delegating the task to an Orlando property management company. Here are just a few key benefits that property management companies offer when it comes to marketing:
Property Managers Have Better Listing Prospects
If you are searching for tenants, you will need to list your property. This means figuring out where to list and how to list to ensure that you attract good tenants. Figuring all of this out can be time-consuming and, in many cases, expensive for landlords.
Meanwhile, Orlando property management experts have the experience of listing multiple properties and will know all of the best ways to list your property. This allows property managers knowledge and access to the best listing locations- they also know the listing locations to avoid. Because property management companies list often, they are also likely to be aware of potential deals and discounts on listing sites that they can pass on to you.
Property Managers Can Market for Less
If you are marketing one or two properties, large-scale marketing deals do not make sense. However, for a property manager who lists and markets a range of properties, marketing is an essential part of doing business. This means that a property manager can take advantage of deals, as well as of their existing consumer base, to get your apartment listed quickly and efficiently.
Since property managers often bundle costs and are getting bundle deals for their own marketing, it will be less expensive for you to market your property through a property manager.
Property Managers Can Market Your Property Professionally
While a listing seems easy to assemble- all you need is a description of the property and a few pictures- a good listing takes a professional touch.
Not only can a property management company list and market your property at a lower cost, but they also market professionally. When preparing to market, an Orlando property management company will take photos, create thorough descriptions, and conduct market research. Property management companies know what renters are looking for when reading a property listing and are able to put together professional postings that will help you attract reliable tenants.
Property Managers Know the Business
Property managers have experience in marketing properties and finding renters. In addition to simply putting together and posting a professional listing, property management companies bring their knowledge and experience of the business. This often includes:
Market Research: A good property manager will conduct research on competitive properties around your local area to ensure that your property stands out. The market research also includes looking at local amenities such as pools and laundry facilities to figure out how your unit measures up to the competition and researching the area for safety, local schools, social life, and other benefits.
Market Volatility: The housing market is constantly changing and, if you happen to need tenants during a buyer’s market, you may need to work a little extra to make your property stand out among the others. Fortunately, property managers already know how to handle a volatile market, and they know when the market has turned in favor of landlords versus in favor of tenants.
Paperwork: While much of marketing is moving online, applications for prospective tenants can still create a lot of paperwork. Property management companies will help you screen tenants, and even pets, to help ensure that you are meeting with someone who is trustworthy.
You Get More Free Time and Peace of Mind
Marketing your property is time-consuming, especially if you do not have any marketing experience. Marketing on your own means that you will need to teach yourself the basics before you even put together a listing.
Instead, you can get your free time back in addition to having the peace of mind that comes from knowing that your property’s marketing is being handled by professionals.
While marketing a property can be difficult for landlords, it can be done efficiently and successfully by property managers. But marketing is just one of the advantages of hiring a good property management company. Other benefits of partnering up with a property manager include tenant screenings, rent collection, taxes, financial reporting, and maintenance coordination.
If you’re considering partnering with a property management company in Orlando, Florida, don't hesitate to contact us.