Residents
Owners
In Michigan, property management is becoming more important and valuable than ever. That is because there is a growing rental market with more demand than ever. Homeowners are looking for opportunities to rent out their real estate to those who are interested, but this is a big job with a variety of commitments. Before you make the decision to rent on your own, consider these key questions. If you find that you may need a bit of help, a property management company can help you to meet all of these goals.
Do you have experience?
If you do not have much experience managing rental property, investing in a property management company may help you to make better decisions. This is a complex process with a variety of legal matters to overcome.
Do you have a solid relationship with area contractors?
In Michigan, problems happen all of the time due to weather conditions. You need to know that there are contractors available that can quickly and affordably work with you to address specific needs as they arise. This is how you keep tenants happy.
Do you have the legal matters in hand?
The process of renting has numerous legal requirements. You’ll need to have an attorney who can draft leasing documents for you, manage concerns related to tenants, and help with eviction notices if they arise. Having a team on hand to help you with this is essential.
Do you know what local fair market value is?
This may seem like a simple question but for many property owners, it is a hard decision to make. Pricing it right – not too high and not too low – can make the all of the difference when renting.
There are many other factors to keep in mind including equal opportunity laws, tenant evaluation, and meeting local code requirements. With a Detroit property management company, you can achieve your goals with less stress and worry.
