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A good reliable property manager like Yellow Ribbon Ventures LLC can add value to your investment by ensuring that it is taken care of properly. Real estate investors will tell you that a good management company is worth having. Here are some of the benefits to having Yellow Ribbon Ventures LLC manage your property….
Higher Quality Tenants
Good tenant screening is a necessary part of managing your property. Once a bad tenant is in your home it can be difficult to get them out. A thorough screening process will ensure that your potential new tenant will
• Pay on time
• Rent longer
• Put less wear and tear on the unit
• Generally cause less problems
The Yellow Ribbon Ventures LLC property management team knows how to read an application for what is not mentioned and they know how to quickly dig for the real facts about candidates. Having Yellow Ribbon Ventures LLC handle the screening shields you from rental scams, and discrimination lawsuits that can result from an inconsistent screening process. This process takes time and is one of the most significant benefits a property management company will provide.
Fewer legal problems
It only takes one troublesome tenant to cause significant legal and financial problems for a property owner. Yellow Ribbon Ventures LLC has the knowledge of the latest landlord-tenant laws and will make sure you are not vulnerable to a potential law suit. Each state and municipality has their own laws, plus there are federal laws to be abreast of including:
• Tenant screening
• Safety and property conditions of the property
• Lease addendum
• Terminating leases
• Handling security deposits
• Rent collection
Shorter vacancy cycles
Yellow Ribbon Ventures LLC will help you take the critical steps that affect how long it takes to fill vacancies:
• Improve and prepare – A property manager will suggest and oversee cosmetic improvements that maximize revenue.
• Determine the best rent rate – Too high or too low and you’re losing money every month the tenant is in the unit. Determining the optimal price requires knowledge of the local market, data on recently sold comparable homes, and access to rental rate tools.
• Effectively market your property – A good property management company understands written ads and what to say and where advertise.
Better tenant retention
A high tenant turnover rate can be a very bad thing. The turnover process involves a thorough cleaning, changing the locks, painting the walls and possibly new carpet or small repairs, not to mention all the effort associated with marketing, showing , screening and settling in a new tenant. This is a time-consuming, expensive process but Yellow Ribbon Ventures LLC will make sure to get reliable tenants in there for you.
Tighter rent collection process
Let’s face it; it is tough to ask for money even if it is owed to you. A good property management company such as Yellow Ribbon Ventures LLC will handle rent collection and late payments for you. Collecting rent on time every month is the only way to maintain consistent cash-flow, and your tenants need to understand this is not negotiable. By hiring Yellow Ribbon Ventures LLC, you put a buffer between yourself and the tenant.
Assistance with taxes
Yellow Ribbon Ventures LLC can help you understand which deductions you can claim, as well as organize the necessary forms and documentation to make those claims. Additionally, the property management fees themselves are also tax deductible.
Lower maintenance and repair costs
Good maintenance and repairs keep tenants happy as well as preserve the value of your investment. By hiring Yellow Ribbon Ventures LLC you gain access to their network of licensed, bonded and insured contractors who have already been vetted for good pricing and quality work. This can translate into significant savings for you, the property owner.
Increase the value of the investment
Preventative maintenance is important and by putting systems in place that catch and deal with maintenance and repair issues early on you can avoid costly problems. This requires a written maintenance check program, detailed maintenance documentation and regular maintenance visits all of which Yellow Ribbon Ventures LLC does. We can also offer you suggestions and feedback on upgrades and modifications.
Personal benefits for owners
There are a number of personal benefits as well such as…
• Less stress – Avoid having to deal with middle of the night emergencies, chasing down rent, evicting people from your property, tenants who wreck your property, rental scams, lousy vendors, piles of paperwork.
• More freedom – Live and invest wherever you want…we will take care of your properties. Live and travel without the requirement of always being available in the event that your tenants have a need you have to tend to.
So let Yellow Ribbon Ventures LLC go to work for you! And put your property in our hands.