Property Management Services in Norwalk, CT

 

Property Management Services Features and Benefits

Why sell your home, when you can rent it?  Many of us must relocate but have purchased a home in the “salad days” of 2002-2006 when property market values were at their peak.  To sell now would mean a substantial financial loss, or worse yet…a dreaded short sale.  There is another option.  But this option presents its own set of challenges.  How do you rent a home to a Tenant that needs service when you are on the opposite coast?  Typically when you rent a property that you own, you must first invoke the twenty minute rule which states that if you live greater than twenty minutes away from your rental property it becomes too much of a hassle to service your tenants.  So, how can you bridge that gap? You can do it with Property Management services.

First we need to identify what the Property Management services are that we can avail ourselves of.  Here is a sampling of what they might look like:

• Property Valuations & Rental Rates
• Property Marketing
• Tenant Screening & Selection
• Lease Agreements & Property Inspections
• Rent Collection and Late Payment Administration
• Eviction Coordination
• Financial Services of Rent Collection & Dissemination
• Book Keeping Services
• Maintenance & Repair Coordination
• Tenant Move Out Coordination

The benefits to you as a Landlord for services such as these are:

• Higher Quality Screened Tenants
• Timely Rent Collection
• Accurate Rental Values Established
• Lower Vacancy Rates
• Higher Tenant Retention
• Lower Maintenance & Repair Costs
• Increased Investment Value
• More time, less stress, and more freedom for the Landlord

Property Management seems to be the enabler to save the home purchase investment loss.  I am beginning to see and understand this real time within my own practice.  More and more of my homeowners who must relocate are opting for leasing their property instead of selling.  On top of this condition is a growing situation on the Tenant’s side.  There are more and more Tenants.  Why?  Because there are increasing numbers of homeowners who have lost their home to either foreclosure or short sale and can’t afford to purchase a home, nor to they have the high credit score that lenders are insisting upon in order to obtain a mortgage.  Yet, they have a high enough score to potentially rent.  If their human condition is very temporary (as in a recent job loss or divorce) why not consider leasing to someone like this who has excellent references?  It just makes good sense.

So the next time you are considering a relocation, or even if you are a Landlord already with an investment property that is just becoming too much to bear you should explore this avenue to see if there is a fit…Project Management Services.

Property Management Services in Norwalk, CT – Local Places We Serve

Platinum Property Real Estate Management Services in the following areas:

Norwalk

Stamford

Westport

Wilton

New Canaan

Greenwich

Darien

Fairfield

Weston

Easton

Redding

Danbury

 

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