Whether you just purchased your first rental property, or you own several already, it is never too late to hire professional rental management in Birmingham. Specialized Property Management Birmingham offers property owners access to an experienced team that uses proven processes to turn your investment into a success. As a full-service property management company, we take care of every aspect of the rental cycle, from advertising a vacancy to renewal and everything in between. But why should you choose Specialized Property Management over other property managers in Birmingham? Find out with our guide to property management companies below.
What to Look For in a Property Management Company
In a city like Birmingham, you have many choices when it comes to who manages your property. What are some essential elements a property management company should have? First, look for a company that offers comprehensive services performed by a team of professionals. Your property managers must know how to avoid common mistakes and take care of your home and tenant in every situation. Next, find a company with local vendor connections. The team you choose should have a list of licensed professionals on call, such as plumbers and electricians. Finally, your property manager should have experience in the local real estate market in order to price your rental correctly.
Believe it or not, many Birmingham rental management companies do not offer all of the above basic services. Some management companies claim to be comprehensive and offer low management fees, but when you compare their list of services to Specialized Property Management Birmingham, you will see a vast divide. Other companies are what is called a “one-person show,” with one individual handling every aspect of the rental cycle. The problem with this approach is that no one person can be an expert in everything. Whether it is responding to tenant maintenance requests or rent collections, the one-person show will drop the ball somewhere costing you money in the process. Specialized Property Management Birmingham offers a team of experts and manages everything that happens at your property. When we say we offer a full range of services, we mean it.
Our Advertising Approach
Advertising your rental effectively is important because poor advertising means your rental will sit empty for weeks or months, leaving you without income. Our team of experts not only advertises your rental across dozens of websites, but we also post it on our own website so your rental has as much exposure as possible. More exposure means more potential tenants contacting our Birmingham rental management company. In addition, we use high-quality photographs and video walk-throughs to ensure potential applicants get the best first impression. These steps may seem small, but they have a significant impact on bringing in a wide range of highly qualified tenants.
How Expert Management Reduces Vacancy Days
When you own rental property, vacancy days are a known expense. We encourage property owners to set aside part of their budget for tenant turnover. However, keeping these days to a minimum will save you money as a property that sits vacant for months is eating away at potential profit. Our property managers plan ahead for vacancies, so we can quickly turn over your property and place new tenants. By proactively scheduling necessary turnover tasks like rekeying and cleaning carpets, your home will be ready for a new tenant in no time. And when potential tenants contact us, we are quick to reply, schedule showings, and process the necessary paperwork to start the leasing processes.
Strict Screening with Rental Management in Birmingham
Tenant screening can be tricky, especially for inexperienced property managers. We offer strict tenant screening because we know that placing the wrong tenant is often more costly than your home sitting vacant for a few extra days. Each potential tenant over 18 must agree to the following checks:
- Rental History
- Credit Check
- Criminal Background Check
- Employment and Income Verification
There are nuances to choosing the right tenants. For instance, a tenant with less than perfect credit is not always a dealbreaker, as long as they qualify in other ways. That is why, when it comes to tenant screening, working with our experienced property managers will lead to a better outcome.
Expert Lease Preparation
After a tenant is screened and approved, it is time to prepare and sign the lease. One mistake many first time landlords make is to provide a generic lease document they find on the internet. After years in the Birmingham rental management business, we can attest to the fact that the more specific your lease document is, the better. Your lease should include basic information about rent collection procedures and due dates, as well as property-specific information such as who is responsible for lawn care. Clearly communicating this information on the lease helps avoid the tensions and misunderstandings that lead to tenant turnover. Our team of experts reviews the lease document at signing, so we can ensure your tenant knows their responsibilities. If there is ever a question about who is responsible for a certain aspect of home care, or what the process is for moving out, your tenant should be able to find the answer in the lease. When it comes time to renew the lease, our property managers are proactive in communicating with your tenant. We take the time to work out the details of resigning in order to reduce expensive turnover and vacancy costs.
Inspections Performed By Birmingham Rental Management
Regular property inspections are one of the most important aspects of owning rental property. You should always know what is going on at your property, which is why performing routine in-person inspections is vital. Our team of experts recommend inspecting your property quarterly or biannually. During a routine inspection a property manager will:
- Check for lease compliance issues
- Visually check around the inside and outside for unreported maintenance issues
- Communicate with the tenant about issues that need to be addressed
- Take pictures and write a report to be uploaded onto your online owner portal
Routine inspections ensure your property is being taken care of and signals to your tenants that you care about their wellbeing.
How Proactive Maintenance Saves You Money
A common problem in property management is deciding when to spend money on maintenance. Owning rental property is a long term investment, which is why proactive maintenance actually saves you money. For example, spending $100/year on a professional HVAC tune-up means your system will last 20 years instead of only 15, saving you thousands of dollars. Our team of professional property managers uses the latest technology to help you determine which maintenance tasks are worth your time and money, and which tasks are not.
Effective Rent Collection with Birmingham Rental Management
Rent collection shouldn’t be a difficult task, but like many aspects of property management, it can be time consuming and tension-filled. Tenants who pay their rent on-time, in full, every single month are a rarity. Whether the tenant simply forgets to send in their rent check, or they intentionally do not pay, part of a property manager’s job is to remind and collect payment. At Specialized Property Management Birmingham, we make rent payment easy for tenants by providing multiple ways to pay, including online 24-hour rent payments through our tenant portal. We also act as a third party between property owners and tenants, using expert communication to relieve tensions related to rent payment.
How We Protect Property Owners From Risk and Liability
Rental property management is an industry filled with rules and regulations. From the Federal Housing Law to local Birmingham ordinances and HOA bylaws, it can seem like the rules are never-ending. To make things worse, breaking a Federal, State, or local law can come with steep fines. As experienced rental management in Birmingham, it is our job to stay up to date with every law, ordinance, regulation, and bylaw to best protect your investment.
Work with the Birmingham Property Management Experts
Why do rental homeowners trust Specialized Property Management Birmingham? Simply put, we are the industry leaders who will help you get a better return on your investment. Success in real estate investing comes down to knowing how to manage your property wisely and communicate with your tenants effectively. If you aren’t ready to devote all your time to your rental property, or you are new to the property management game, you are putting your property at risk. Even small mistakes can lead to large fines, turnover, and evictions.
Our team works for you to price your rental correctly, avoid vacancy days, properly maintain your home, communicate with tenants, stay up to date with local laws, and so much more. Our comprehensive services and leading technology take the guesswork out of property management and lead to increased cash flow and happy tenants. The real question here is, why haven’t you called the top Birmingham rental management company yet?
To put Specialized Property Management Birmingham’s team of experts to work for you, call 205-417-1475 today!