You’re in the rental business to make money. We work very hard to make sure you do. Our involvement in your rental property goes way beyond collecting rent and mowing your lawn. We manage this investment for you, making sure that you maximize your income while minimizing your expenses.
Establishing Market Value
This starts with our intimate understanding of the region’s rental market. We continually monitor this market, providing constant independent in-house evaluations. With our resources, we will advise you of opportunities regarding rent amounts as well as recommend potential properties to invest in.
We have an entire division within our company dedicated to it. A lease renewal is an opportunity to keep a good tenant, potentially increasing the rent in the process. We evaluate the current rental market and recommend what we believe you should charge for rent. We then oversee all revisions to contracts and transitions of tenants.
Managing Your Budget
There are a lot of expenses associated with owning and renting property. It’s reassuring to know the professionals at Northwest Property Management Group will look after all those details for you so you don’t have to. Always with maximum return at the forefront, we’ll recommend what you should be spending to maintain and repair your property. We will negotiate all contracts, from major renovations right down to garbage pickup.
Regulations regarding tenant rights and landlord responsibilities are a very important aspect of owning rental property. The Fair Housing Act prohibits landlords from discriminating based on disability, race, color, national origin, religion, sex, and familial status. In addition to, there are many other Fair Housing regulations. Some examples would be service animals, housing assistance “section 8”, source of income, and criminal history to name a few. Compliance with these and the many other regulations is an ongoing headache for many property owners. We make sure all interactions and documentation follow the strict criteria established by Federal, State and local municipalities, keeping you fully compliant and trouble free.
We keep thorough records regarding your property. This includes all income and expenses, signed leases, move in condition reports, maintenance requests, any complaints, records of repairs, costs of repairs, maintenance costs, record of rent collection and renters’ insurance. Everything is kept in a backed up, easily accessible electronic format, ready to hand off to your tax accountant at any time.
Market Insight & Sales
With any investment, it’s extremely beneficial to know what it’s worth, when to sell it, and when to buy more. This is even more crucial with investment properties. We understand your need to get the most out of each property you own, and that’s why we have experts in real estate to stay on top of the market trends and home values. We always keep an eye on available inventories while searching for properties that would suit your investment needs as well.