Finding a property management solution that solves your biggest pain points can be challenging. Whether you're starting as a new investor or trying to grow your rental property portfolio, the right Seattle property management solution can boost your success while minimizing your workload. However, the wrong property manager creates more hassles than you at high costs without boosting your bottom line.
Finding the best solution can be challenging if you have no idea of what you need. Here are a few tips that will enable you to partner with the best property management solution for long-term success!
Identify Your Biggest Pain Points
Any problem that affects you as a rental property owner is a pain point. You might have many pain points that keep you from reaching your financial goals. However, sometimes starting with the most painful issues is the best place to evaluate your needs and choose the best solution.
Are you struggling with any of these painful issues? Many investors feel plenty of pain with:
- High tenant turnover. Empty rentals lead to lost income and low cash flow.
- Too much paperwork. Losing leases, invoices, expenses, communications, and other critical documents can become overwhelming (and costly).
- The struggle to find excellent contractors. Broken pipes don't fix themselves, but finding quality plumbers and other contractors to keep rentals in excellent condition can be difficult.
- Bad tenants who don't pay the rent. Chasing down late rental payments and enforcing the rules can be especially painful and time-consuming.
These kinds of pain points (and more) become costly, frustrating problems without experience help. However, an all-in-one full-service solution isn't always the right answer. Identifying your pain points and listing them based on the severity of the problem can guide you to the best Seattle property management solution that offers specific services to address each of these problems.
Decide Where to Ease Your Pain First
Solving ten problem areas at once might be the best strategy—or within your budget. Where should you start? You might not need a full-service solution to get your rental properties and income on the right track.
With a flexible property management solution, a property manager in Seattle works with you to tackle the things that hurt your bottom line the most. Helping in areas where you don't need help can be unproductive and waste budget dollars on "solutions" that you don't need.
For example, if you are an accountant, you could maintain your business records instead of paying a property manager or bookkeeper to do that for you. If you have a career as a private investigator, you could manage the tenant screening process to avoid troublesome tenants and let a property manager collect the rent.
When things are working well, there's no need to "fix" them. Addressing your most significant pain points with a property manager that offers "break apart" services instead of an all-in-one solution directs attention (and critical budget dollars) to the "squeaky wheel" instead of the wheels that work well.
Choose a Solution that Eases Your Most Painful Points Now
If all-in-one solutions aren't always the answer, what is? Am I "getting what I pay for" by not paying for full-service management for my Seattle rental?
Investors who want to remain entirely hands-free for the management of the rentals need a property manager that provides every service and handles every detail. If your biggest pain point is handling any of the daily rental management tasks for your properties, a property manager that offers everything out of the gate for one over-arching fee might be the best solution for you.
However, if you prefer to start small with one or two services to get a feel for property management—and address areas where your time or bottom line suffers the most—you need a property manager who delivers one-off service solutions to meet your specific needs. Plus, starting small with specific services helps maximize your budget with the benefits of expert management when you need it most!
As your portfolio grows, a flexible property management solution also grows with you! Adding and changing services as your needs change should be part of any partnership between an investor and a property manager. Find a property management solution in Seattle that fits your budget and starts where you need help the most now—and see how far you grow!
Get the Specific Seattle Property Management Services You Need for Success
It is possible to partner with a Seattle property management solution, save money, and not have to deal with poor-quality property management services that don't help your bottom line. If full-service doesn't meet your needs or fit your budget, RentWatch has the solution you need!
We deliver a full range of Seattle property management services without the all-in-one package requirements or costs. If you're ready to ease some of your biggest pain points without hurting your budget, connect with us!
How much can you save to enjoy the benefits of a property manager without full-service costs? Click to try our Savings Calculator!
