Rewards Over Time
A landlord’s work is never finished, which means that the rewards for exceptional property management in Utah are ones that are doled out over time. Yes, there is the rental income and supplementary fees that property managers collect on a monthly basis; these can provide a landlord with a comfortable living or even just a nice passive income. Then there are the intangible benefits, like getting to engage with people from all walks of life or seeing your skills put to good use in a way that improves others’ lives.
Overall, one might choose the life of rental property management for any number of reasons, big and small, including:
- Accruing equity
- Making appreciable investments
- Providing a service to society with high-quality, affordable housing
Property management comes with its fair share of challenges, as well, which can prove too much for even the most seasoned landlord. After all, you’re only one person (or a small team of people) — the sheer volume and consistency of trials would be tough on anyone. That’s where Rhino Property Management comes in.
The Usual Suspects
When it comes to the biggest perpetrators of a landlord’s troubles, we can look to a few usual suspects. After decades in the business, it’s clear that the following issues cause the most grief:
- Turning over vacated apartments
- Choosing good tenants
- Fulfilling maintenance requests
- Adhering the state and federal regulations
- The long-term commitment (benefits aside, it’s still tough to do year after year)
- The time investment
- Dealing with missed rent
- Carrying out evictions
As you can see, it’s not a short list. While many landlords have the aptitude and grit to take on these issues daily, the wise use of a property management firm like Rhino will see that the most troublesome affairs are looked after, giving you a chance to put your energy elsewhere.
Clearing the Biggest Obstacles
Thanks to years of experience working in Utah property management, the team at Rhino isn’t afraid of this list of challenges. In fact, we enjoy taking them head-on in the name of your single-family or multi-unit interests. Read on to find out how Rhino deals with the biggest of these issues so you don’t have to.
Filling Vacancies
Learning that a tenant is leaving your property can be a hard pill to swallow, especially if they have been reliable in their payments and easy on the apartment. Like a newly unemployed person turning to the listings once again, there’s a lot of work that goes into getting a new stable situation.
At Rhino, we handle the particulars by:
- Executing well-written advertising campaigns across all mediums
- Ensuring the ad saturation is well maintained and that it’s being seen by the right people
- Keeping the property clean and show-ready at all times
Filling vacancies is a specialty of ours, which we will use to make sure you are not without a tenant for long.
Picking Good Tenants
Once the advertisements are out and people start showing interest in becoming tenants, it can be difficult to pick the right people. It is in your best interest to ensure that whomever you choose is good for the property, can pay their rent on time, and won’t hurt the overall environment that you’re trying to promote.
One big part of our rental property management tasks is to help you pick the best tenants. There are lots of things to consider, naturally. These include:
- Their permanent (criminal) record
- Their employment situation
- Their credit
- Their references, including the testimony of past landlords
At Rhino, we help you navigate these waters in an effective and ethical way.
Adhering to the Law
Both you and your tenants are protected by laws, many of which will be referenced in your rental agreement. The biggest of these laws are:
- The Federal Fair Housing Act
- Various Utah Laws, such as Title 57 and Title 78
These laws dictate how property management in Utah is supposed to operate and cover issues like discrimination, evictions, security deposits, and more. At Rhino, we keep up to date on all relevant state and federal statutes and can help you navigate those waters safely for you and your tenants.
If you’re curious as to how Rhino can help with any of the challenges common to landlords in general or to you specifically, please don’t hesitate to give us a call.