It's possible to make a lot of money from real estate, especially if you get the right help.
Some companies offer different types of services that make things easier for landlords. Tenant placement and rental management are two popular options. Depending on what you need help with, it can be tricky to decide which of these would fit you better.
In this guide, we'll look at both so you can decide which would suit you more. Let's dive in.
Tenant Placement
Tenant placement is a service that you can use to help you find tenants and get them moved into your property. The first part of this is property marketing.
A tenant placement company knows the best ways to attract tenants. They can market your property so that it's more appealing and you get more interest.
They can then assess the various applicants and narrow them down to find you the most suitable options. Part of this involves tenant screening, in which they'll do a thorough background check on applicants. This will allow them to see if any of them have caused problems with previous homes they've lived in.
With the best applicants selected, they'll negotiate the lease and then move your tenants in. They'll then hand things back over to you.
Rental Management
Rental management involves a lot more. Tenant placement is a component of it, but it's also made up of various other elements. This includes things such as the following:
- Property maintenance
- Tenant relations
- Rent collection
- Legal assistance
- Lease renewals
- Accounting and reporting
This is an ongoing service that encompasses all of the daily operations of a rental property. If you go this route, you can rest assured that professionals are taking care of your property and you can focus on other things.
Which Should You Choose?
This isn't easy to answer, as it depends on your own needs. For some landlords, tenant placement is ideal, while others will benefit more from rental management.
You ultimately need to think about how much work you want to take on yourself. Property management is ideal if you'd rather let the professionals take care of things. If, however, you'd rather oversee the general operations yourself, then tenant placement will suffice.
One important thing to note is that managing a rental property can be very time-consuming. If you own multiple properties, professional rental management will likely be a much more viable solution. This can also be the case if you live quite far from your properties, as managing them will be more difficult.
Professional Landlord Services
Both tenant placement and rental management services can be helpful. The most suitable for you will be dependent on your needs. Consider whether you want to oversee the day-to-day tasks of managing your property yourself or you simply need assistance securing quality tenants.
PMI Marietta is a full-service property management company based in North-West Atlanta. With over 18 years of experience, our team can help you with whatever real estate services you need. Check out our property management page to find out more about what we do.
