What are the Different Ways a Professional Property Manager Can Increase Revenue of a Rental Property?

When you hire a professional property manager to manage your properties, you expect him or her to grow your investment and increase revenue. Here a number of ways an experienced and educated property manager can do just that.

Offer Additional Services Around the Property

While maintenance, marketing, and renting or selling properties is a part of what an experienced property manager can do, there are other services he or she can offer. For example, a property management company at an apartment complex might offer concierge service to its renters, while a vacation home rental company might personalize its meet-and-greet when a guests check in. When you get creative and add more to an already attractive rental property listing, you decrease the odds of vacancy and improve your chances of experiencing additional revenues.

Help You Invest In Other Properties

If you and your property manager have established a successful relationship with one property, it might be time to try your luck at two or more. With more properties invested in, the more revenue that streams in. With a property manager who knows how to operate and maintain the margins, each property you add to your portfolio will result in an additional percentage of profits. For example, if each investment property generates $10,000 in revenues with a 35 percent gross margin, which accounts for expenses related to it, then you generate an additional $6,500 of profit.

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Rentworks, LLC

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Tampa, FL 33609
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