Rental Property Management Services
As we’ve shared throughout our website, our CT professional property management firm specializes in working with small-to-mid-sized rental property owners offering housing, apartments, condos, residences, etc. to renters (vs. retail or office space). This specialization means we understand both your challenges and opportunities and can apply our expertise in vacancy reduction, tenant communications, preventative maintenance, and rental unit market trend analysis to support your investment being an income-generating one! Our rental property management services include:
Vacancy Reduction/Mineralization
Through proactive measures like recommending and overseeing renovations to your property, we encourage and cause you to keep your property updated and maintained, so that your existing tenants are more likely to want to renew their lease. We’ll also work with the appropriate real estate agent connection to pre-lease any units where leases are ending so units don’t sit unoccupied and unrented.
And, in keeping with keeping your existing tenants happy and more likely to renew their lease, our team will provide prompt, exceptional service to your residents regarding rental unit maintenance and other issues. Plus, we can engage experienced vendors with whom we partner to make sure tasks related to the time of year and weather that tenants expected to be completed are completed, such as landscaping, lawn mowing, and snow removal.
Resident Communications – General and Individualized Communications
Many of our clients own or work at organizations that have nothing to do with property investments. Often, the demands of those businesses or jobs leave landlords/investors with no or very little time to effectively communicate on a number of topics with individual tenants or with all tenants. Plus, it can feel unsafe or intimidating to have to deliver unwanted news, such as that of an eviction, to a difficult tenant.
Our real estate management team is experienced and skilled at developing and delivering a variety of individualized or more general tenant communications, and can pull in expert legal connections, as needed. So, why not let our team save you time, but also save you from discomfort?
Annual Inspections and Preventative Maintenance
We combined the above two service topics because, often, maintenance work follows annual inspections. Our Connecticut property management team will make recommendations for, and conduct, or oversee the conducting of, various annual inspections – inspections that the State of CT requires landlords to complete, but also ones that we think are a “best practice” to complete. By ensuring that these inspections take place, and then taking steps to remedy any property shortfalls resulting from them, we’ll ensure that your investment is protected.
We’ll also make recommendations for, and oversee, preventative maintenance work that isn’t driven by annual inspections, but rather just makes good economic sense because it:
Lessens the probability that you and your property will be the subject of a lawsuit
because of neglect of a situation that required repair or attention to keep tenants and visitors to your property safe.
Causes residents to feel proud and happy about living there
reducing vacancy rates, as we described above. Who doesn’t want to keep living in a well-maintained place? And, that’s a win-win for both you and your tenants.
Attracts good residents thru property appearance and upkeep
Renovation Recommendations To Increase Property Value and Attractiveness
As we described on our Property Renovation Service page (link to appropriate sub-page), keeping up with rental unit market trends is crucial to maintaining a positive investment ROI. Our Connecticut property management team is skilled at, and accustomed to, making recommendations for upgrades/updates to clients about renovations they should make that will ultimately support rental property income generation.
Plus, we’ve got a team of expert connections we can pull into your particular project, and we’ll oversee them thru project completion. That means we’ll serve as your project “guardian,” ensuring any renovations are completed in a timely, effective, and sufficient fashion!
Financial Tracking
As CT property managers, ensuring that our clients’ rental properties perform well from a financial standpoint is our primary objective! Of course, there are somethings that are out of our property management firm’s control and your control as a landlord, like natural disasters, health epidemics, and/or significant shifts in economic conditions in your particular market. That said, there are many factors that influence a rental property’s profitability and we can be your go-to team to make sure that factors that positively influence ROI are optimized, and factors that negatively influence ROI are minimized.
So, how do our clients and how does our Connecticut property management company’s team know that all the measures we’ve put in place on your behalf, like vacancy reduction, preventative maintenance, and property upgrades/updates, are working? We judiciously track the project fees of all of our licensed, qualified, insured contractors, the fees we charge you, and the rental income you generate from your property, so that both we and you can see whether or not revenue generated by your rental property is exceeding property expenses, and therefore, your property is generating a positive return on investment (ROI).
In situations where client properties aren’t generating a positive ROI, our real estate management firm makes recommendations for various actions/tactics (ones we can implement on your behalf) that can be taken or employed to improve how your rental property performs.
Reach Out To Learn More
Want to speak with us about one or several of our services? Reach out today!