What are the most important factors for owners to ensure profitability?
#1 Factor - Vacancy Rate
Vacancy Rate is the single most important factor to ensure your profitability. At Active Renter, our goal is to have your property rented within 30 days. Next, if your property is vacant, make sure you have an Action Plan.
At Active Renter, our action plans consist of closely monitoring the Days on Market, Reviewing all tenant showing feedback, and addressing any property issues if necessary.
Reduce Expenses to the Absolute Minimum
There are two main costs.. the first is maintenance cost and that all starts with selecting the right tenant. At Active Renter, we professionally screen all of our tenants, we require them to obtain renters insurance, and we conduct routine inspections to make sure they are taking care of the property.
The second cost, is rent ready costs. When a property becomes vacant, time is of the essence. At Active Renter, we've spent years developing relationships with professional contractors and vendors. This means we can provide quick service at a very competitive rate.
Author
pm-experts
ARPM is focused on helping investors acquire and manage rental properties while providing tenants with the best rental experience. We have been a leader in the residential property management industry for many years by assisting people with growing their portfolios, and keeping their existing rentals profitable.
