Managing Your Boston Rental Property [Tenants, Maintenance Requests, and More]

Managing a rental property may seem like a daunting task, but it doesn't have to be. Property management companies exist for a reason: they're experts in the industry and know how to get things done quickly and efficiently (while maximizing your returns). That means property owners have more time to grow their portfolio, spend free time with family, or simply enjoy passive income in retirement.

There is a lot that goes into keeping a rental property operationalIn this blog post, our Boston property management experts discuss some of the most common tasks landlords have to deal with when managing their properties—and the best way to do them well!

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Finding Great Tenants

A real estate investment is no good if it sits empty. Property owners must find and retain good tenants to keep the income stream flowing. What's the best way to do that? Let's take a look.

Effective Marketing

The first stage in finding a good renter is to advertise your home. Consider advertising your residence on several real estate rental websites or utilizing social media to assist in spreading the word.

You could also create a virtual video tour to reach more prospective tenants. Be sure to deliver an accurate description and views of the property. It can be a waste of your time or that of prospective renters to show them a property that isn't suitable for their needs, such as no dedicated parking space, no in-unit washer, and dryer, or maybe you don't allow pets. 

Don't forget to place a "for rent" sign in your rental window or front yard to notify passers-by that the rental property is available for lease. When posting an advertisement to help your rental property stand out:

  • Take high-resolution photos and videos
  • Clean and stage the interior for photos
  • Determine correct rent price based on the market
  • Market the rental property both online and in-person

Property management companies are experts at marketing rental properties. They can assist property owners with tools and expertise to reduce vacancy times and attract quality renters!

Tenant Screening

What happens when your listing starts generating rental applications? Finding a good tenant is one of the most challenging aspects of reviewing applications before anyone signs a lease agreement. A thorough tenant screening is one of the essential aspects of an effective property management system.

Checking an applicant's credit, criminal, and eviction histories can help you form a complete picture of who your potential renters are. (and if there are any red flags). You'll also want to collect income information to ensure the tenant can afford the rent. 

It can be time-consuming to complete a background check on your own (while also following all Fair Housing and Federal Credit Reporting Act regulations). So, you may want to consider hiring a Boston property management company to assist you.

Good Communication

After you've decided on a tenant for your property, maintaining an open line of communication is crucial to being a good landlord and keeping quality tenants in place. Providing excellent customer service and remaining in good standing with your renters can keep them happy and encourage them to stay in the rental property for another lease term.

A property management company can implement an automated system for communicating with tenants, including a move-in checklist. Some other tips for effective communication include:

  • Letting your tenant know you are available to answer questions or address concerns
  • Addressing issues as quickly as possible
  • Providing tenants with numerous ways to contact you
  • Being truthful
  • Sending tenants timely notifications of showings, repairs, and other activities
  • Notifying tenants of legal details required in the lease, like a lead paint disclosure

Excellent communication helps property owners build positive relationships with good tenants!

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Dealing with Rental Property Maintenance Issues

Any landlord may find dealing with maintenance requests to be a time-consuming hassle. The secret is to respond promptly and avoid taking on a DIY task that a pro should handle!

Property managers recommend these best practices to keep maintenance issues under control:

  • Use an online system for tenants to submit a maintenance request
  • Determine the degree of the problem or damage
  • Establish positive relationships with dependable vendors to handle routine maintenance or other repairs
  • Trach the usage and age of major appliances to anticipate maintenance problems and get ahead of them
  • Respond promptly to any maintenance request

Hiring a property manager is like hiring a team of maintenance technicians to keep your rental property in top shape.  As part of their expert property management systems, rental managers have working relationships with trusted area vendors. The right property management team takes the hassle out of finding a vendor for maintenance issues and working with tenants to take care of seasonal maintenance. 

Hire Boston Property Management to Handle Tenants, Maintenance, and More!

There is much more that goes into property management than simply buying a home and finding a renter. CHARLESGATE Property Management has the experience and know-how to take care of every aspect of the day-to-day operations for your rental property, giving you peace of mind along with a great return on your investment. Connect with us to learn more about our professional services!

For more insights into what a property manager does, download our free resource, the "Guide to Finding the Best Property Manager in Boston."

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