Property Management Companies Longview Washington

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Are you looking for flat fee property management firm in Longview Washington?. When picking a company for managing investment real estate property there are many things to consider. While investing in real estate can be quite advantageous, purchases like these can be hard to deal with. That is why it is best to do business with a company that specializes in managing investment real estate. The right company can execute a variety of essential tasks for the property owner.

The proper management company will be able to see about an array of jobs, including asset management, property management and portfolio management. Many firms provide additional support services, which includes accounting services, and an IT department.

These property management establishments also bring a great deal of knowledge and experience to the table. Other property management establishments specialize in specific kinds of property management, including multifamily homes or luxury housing. Each firm ought to have a complete knowledge of the industry and also the requirements to get a sound real estate investment.

Utilizing the proper management company will even give you many opportunities. You can find businesses that allow financiers to group their financial resources, that may provide you with usage of investments that will have otherwise not been available to you. If you would like more investment options, using a company is the right choice.

Make time to find a company which fits all your needs and is qualified to provide the help you might be trying to find. You’ll benefit greatly after you begin working with the investment company. Although not a technology company per se when compared to other property management companies in Longview Washington, RentVestPM.Com is light years ahead. Our investment in technology has facilitated our expansion into more than 12 markets in a very short period of time.

Reasons for Using a Property Management Business in Longview Washington!

Make time to get a company that fits all your needs and is capable to giving help you might be looking for. You will benefit immensely as soon as you begin working with an investment firm. Even though not an IT when compared to other property management companies in Longview Washington, we are profoundly more sophisticated. Our commitment to technology has permitted us to expand into more than 12 cities in just a few years.

Reasons for Employing a Property Management Firm in Longview Washington
Renting out my home was very difficult to do on my own. Working with a property manager helped a lot. Not simply did it free up my time, but it showed me significantly better returns on the rental. The company which I ended up employing could handle everything involved with my property rental and so they could find the right couple and it should not cost me too much money to handle. Because they already had a proper screening process, they could actually get tenants who are able to paying on time on a monthly basis. It took plenty of worry out the whole rental process and made our house into a feasible income stream that we can rely on each month.

Needing to oversea your rental property all by yourself can be a significant hassle that you would like to avoid. Making the choice to invest in using a property management company can be one of the best decisions you make if you are searching to rent out your house or apartment without having it turn into a full time project for yourself. A house management company completely took over the day to day running of our house and enhanced the efficiency of the whole process, from start to finish therefore we would undertake it again in a heartbeat. An additional point worth mentioning that even though RentVest PM is known for Property Management near Gresham Park, GA we also offer tenants a substantial inventory of rental properties in Longview Washington. So, if you are a rental property owner in or near Longview Washington looking for to improve the return on your investment we would like the opportunity to assemble a proposal to make it happen. Those looking for additional details about RentVest please stopped by our blog

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How Real Estate Management Companies, Property Managers and Landlords Can Increase Rent Prices With Minimal Tenant Loss

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Notifying tenants of an increase in the monthly rent price for your rental properties is usually a touchy matter, especially since a rent increase can create vacancies that will need to be marked and filled when tenants choose to move rather than pay a higher rent monthly rent. Your rental unit pricing is a big real estate management decision. It is also a crucial factor on whether or not tenants decide to move or stay, so it’s important to tread cautiously when it comes to rent increases.

You want to offer your rental units at the fair market price, but you also want to retain the reliable tenants you have and avoid vacancies. Experience has taught us that renewing leases with great residents who’ve proven themselves to be reliable and conscientious is usually more valuable than a rent increase.

Still, you may decide that a rent increase is necessary to cover rising costs and maintain profitability. In that case, you’ll need to decide how much the increase should be, which is typically between 3-5 percent. When notifying tenants in advance, you’ll want to write a cordial rent increase letter to your residents. Keep the tone warm and include a brief explanation for the increase. Here are some examples:

• Increased costs of maintenance supplies and services needed to maintain the community’s safety and security standards, clean, inviting common areas, and landscaping and green spaces.

Other valid explanations for rent increases:

• Cost of living increases
• Bring the rent up to market value
• Property improvement costs
• Property tax hikes
• Increased utility costs
• Increased insurance premiums

Rent Increase Guidelines for Real Estate Management Companies

Every state has specific laws for rent increases by which you much abide. If you offer rent -controlled housing, your options to increase rent are much more restricted.

Some of the regulations to review in your state, county or city laws for raising rent include:

  • Rules for rent-controlled housing
  • Frequency of rent increases
  • Language requirements in your lease regarding rent increases during the term of the lease
  • Maximum limit for rent increases
  • Number of days’ notice you must provide before rent increase begins

It’s important to do your homework and make sure you understand what property managers and landlords can and can’t do when deciding to raise rent prices.  Generally, unless the lease specifies otherwise, you cannot raise rent prices before the lease expires. Real estate management companies, property managers, and landlords must also deliver a written notice of a rent increase, usually a minimum of 30 days before the increase takes effect.

In many states, unless the apartment is rent-stabilized, you can increase rent by any amount you choose—there is no limit— but you risk losing good, reliable tenants if your price hike doesn’t represent fair market value or seems unreasonable. A growing number of states are moving toward enacting rent increase limits on behalf of tenants.

Writing and sending rent increase letter that is amenable to tenants

Communication is key. A rent increase letter complies with rules for informing tenants and officially documenting it. Your rent increase letter should be pertinent, professional, and written in a polite, approachable tone. You can search for rent increase letter sample templates to use as guidelines.

When writing your rent increase notice letter, personalize it to your community’s unique identity, bearing in mind that money is a sensitive issue, communicating with tenants on a personal level helps remind them that you value them as people. This is your best approach for encouraging them to stay, despite the rent increase. Great tenants appreciate great landlords too, and a great landlord is one who makes his or her tenants feel valued.

When writing the rent increase letter’s greeting, use the tenant’s name, rather than “dear tenant.” Also, use “Change in Rent Notice” in the subject line instead of “Rent Increase Notice,” since the former doesn’t immediately elicit a defensive reaction from residents. In the letter, make it clear that tenants can contact you with questions and provide your email address and phone number. Make sure to thank them for being a valued tenant. Sign off with a personable closing phrase such as “sincerely,” “Best Regards,” or “Many thanks.”

Important information you must include in your rent increase letter:

  • Tenant’s name
  • Property address
  • Property manager or landlord’s name and contact information
  • Date the letter is written
  • Date the rent increase will take effect
  • Amount of rent increase
  • Current rent price
  • Rent price after increase takes effect

You can also structure the letter like a contract and insert a form at the bottom for the tenant to complete, sign and return. Wording on the form should read:

  • I agree to accept the new monthly rent price, effective XX-XX-XXXX date. (If selected, you can the tenant send a lease renewal letter.)
  • I do not agree to accept the new monthly rent price and will vacate by XX-XX-XXXX date according to the lease agreement.

To send the rent increase notice letters you can either hand-deliver them to tenants or mail them individually via certified class mail with a return receipt. Don’t email these notices, as you need to ensure the tenant acknowledges that they received the letter to prevent potential confusion or legal issues later. Follow up with tenants via email or regular USPS mail. Email is the most efficient follow-up method.

Make it as simple as possible

Coordinating rent increases, facilitating communication, and managing potential tenant turnover can be complex touchy. A good real estate management company is well-equipped to handle this task—they keep up-to-date on market prices, are well-versed in writing rent increase letters and lease renewals, working (and negotiating) with residents, and handling turnover.

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