Rent Smart, Earn More: Top Tips for Maximizing Your Investment Property's ROI
As Canada’s leading property management company, we understand the importance of maximizing your rental property’s return on investment (ROI). We know that owning a single-family rental property is an investment that requires careful attention to detail and smart strategies to ensure that you’re getting the most from your investment. That’s why our independently owned and operated RPM offices across the country offer a range of services designed to help property owners like you to maximize their rental property’s ROI.
One of the most important steps in maximizing ROI is proactive maintenance. Real Property Management (RPM) offices can help you set up and carry out a proactive property maintenance schedule that catches and takes care of small problems before they develop into larger, much more expensive ones. Our regular, detailed property inspections, preventive maintenance, and making small repairs and improvements as they are deemed necessary ensure your cash flow stays in the black.
Another key strategy is upgrading your marketing and screening processes. At RPM, we can help you create professional materials, quality photos, and virtual walk-throughs of your property to attract high quality tenants. We can customize your marketing message to best appeal to your ideal tenant and advertise in places where they spend their time most, whether it's on social media, searching the web, or on rental listing sites.
Our thorough screening process collects all the necessary information, checks an applicant’s criminal and financial background, and reaches out to their references and prior landlords, so you can be confident you are selecting a responsible renter that will treat your property with care and respect. Afterall remember the majority of renters are looking for a place to call home.
Once you’ve found a good tenant, cultivating positive tenant relations is crucial to encouraging them to stay in your rental home long-term. That’s why we prioritize frequent, positive communication, offering different ways to stay in touch, setting clear expectations, treating tenants – and their time – with respect, being available and responsive to their concerns, and offering convenient ways to pay their rent. Our approach fosters good relations with your tenant and, at the same time, maximizes your investment’s return. Happy tenants = long term tenants!
Professional property management is another key component in maximizing your ROI. At RPM, we have a detailed knowledge of the Canadian rental market, which we can use to your advantage. We provide recommendations on how to improve your property, increase your rental rate, and reduce costs, and we work hard to ensure the long-term profitability of any rental property. When you work with a Real Property Management office you don’t just get professional property management but asset management … because we care about the success of your long term property portfolio. That’s why we’re the investors choice for maximizing rental property’s ROI.
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