Thanks to technology, it’s possible to do almost anything from almost anywhere.
If you’re an out-of-state rental property owner, however, there are a few good reasons to partner with a local Bozeman property management expert instead of trying to lease, manage, and maintain your investment from afar.
The most important reason is service.
Tenants notice when you’re not present. They feel like their maintenance requests take a little longer, their concerns aren’t heard, and the commitment that they’re getting from their landlord is lackluster at best.
That’s not the reputation you want.
At Absolute Property Management, we work with a lot of out-of-state owners to provide local support and expertise. Our long distance owners find us to be trustworthy and professional. Our tenants would say the same.
Here’s how Bozeman property management can maximize your investment potential and profitability when you’re not here yourself.
Local Bozeman Market Expertise for Higher Earnings and Fewer Expenses
Working with partners who have experience and presence within the local real estate and rental market is very important when you’re not here.
Your investment properties are pretty valuable assets; you’ll want to make sure they’re not only protected, but also earning as much as they should be. So, you need a property manager who can accurately price your home, market it strategically, and pick the best tenant. All of this requires a deep understanding of Bozeman and the people who live here.
A local management company like ours understands the rental market, the competition, and the tenants better than anyone else. We know what other properties are renting for, within your own neighborhood. We know which amenities and upgrades are most important to the tenant looking for a new home here.
It matters.
Property management systems are critical when you’re out of state. You need to know that there are consistent processes in place for every step of the leasing, management, and maintenance process. There should be no wondering how screening will work or rent will be collected.
Look for a property manager who is prepared to:
- Collect, hold, and return security deposits.
- Respond to maintenance right away.
- Handle tenant disputes professionally.
- Collect rent on time.
- Enforce the lease agreement while committing to a positive tenant relationship.
A good Bozeman property manager will be quick to tell you how things are done and why it helps your investment.
Out-of-State Investors Count on Low Vacancy and Limited Turnover
Self-showings are pretty popular, but it’s hard to schedule these, respond to tenant inquiries, and make sure the property is rent-ready if you’re not here. It’s better to have a local property management expert showing your property. We understand the best way to advertise your vacant property and find a good tenant quickly.
We do it every day.
Long vacancies are expensive, and you need to know your property will be rented quickly by high-qualified, well-screened tenants. We create a lease agreement that’s specific to Montana and all of its laws and requirements. We conduct a move-in inspection, collect the security deposit, and handle any questions your resident may have.
We also have a plan for tenant retention so our out-of-state owners aren’t worried about turnover costs and losing tenants every year.
All of this saves you money and increases your earnings in the short-term and the long-term.
Preventative, Routine, and Emergency Maintenance
As an out-of-state investor, you need the peace of mind that your property will be well-protected. You cannot respond to maintenance issues from afar, even if they’re emergencies. So, you’ll need a management company that answers their phone 24 hours a day in case there’s a fire or a flood or some other disaster at the home which requires an immediate response.
We have our own in-house maintenance team. Our professionals can get over to your property right away to diagnose a problem or make a quick fix. If there’s something more complex going on, we’ll contact one of our local professionals with whom we have an outstanding relationship.
Having an in-house repair team helps out-of-state investors because you know that maintenance will never be a problem. There will never be a delay and there will never be a risk of deferred expenses. We’ll be able to mitigate further damage and costs when there’s a repair that’s needed right away. We’ll handle routine repairs affordably and efficiently, and we’ll invest in preventative maintenance to keep ongoing costs down.
You can also count on routine inspections and property condition reviews. You can expect detailed property condition reports with pictures and all of the information you need to stay informed and make decisions about future maintenance, upgrades, and improvements. Your property manager in Bozeman will make you feel like they’re taking care of the property as well as you would yourself.
Prioritizing Technology and Communication
You’ll need to work with a property manager who prioritizes technology and communication. This is what will keep you connected with your investment from afar. Communication will be essential when you’re an out-of-state owner because you’ll want to be able to get in touch with your management company whenever you have a question or a concern.
A good management partner will be responsive and accessible.
If there’s a major problem at the property or a tenant provides notice at the end of the lease term or an expensive repair needs to be made, you’ll want to know about it, and you’ll want to know what it means for your cash flow and your ROI.
The right management company for out-of-state investors will have the following in place:
- An exceptional online software system that provides owner portals so you can log in from anyplace in the world and at any time and see how your property and your tenants are performing.
- Accounting statements that are updated in real time.
- Repair records and invoices.
- Leasing documents.
Everything you need should be available electronically. This creates a sense of ease and simplicity.
We know that you want the best for your Bozeman investment property. We do, too. If you’re investing from out-of-state, please contact us at Absolute Property Management. We’ll talk further about how we can be your most valuable resource.
