Lee’s Summit Property Management Blog

Lee’s Summit Property Management Blog

By Trisha Goodale 17 Mar, 2023
Owning and managing rental properties can be a lucrative business, but it comes with its own set of challenges. From screening tenants to handling maintenance requests, property management requires a lot of time and effort. Here are some tips to help you effectively manage your rental properties and maximize your returns. Set clear expectations Before a tenant moves in, make sure to set clear expectations about the rental agreement. This includes the rent amount, due date, late fees, maintenance responsibilities, and any other rules or regulations. Having a clear agreement in place can prevent misunderstandings and disputes down the line. Screen tenants thoroughly A thorough screening process can help you find reliable tenants who will take care of your property and pay rent on time. Ask for references, run background and credit checks, and verify income and employment. It's also a good idea to have a conversation with potential tenants to get a sense of their personality and communication style. Maintain the property regularly Regular maintenance can prevent small issues from turning into big ones and keep your property in good condition. Schedule regular inspections and make sure to address any repairs or maintenance requests promptly. You can also consider hiring a professional property management company to handle maintenance tasks for you. Communicate effectively Good communication is key to a successful landlord-tenant relationship. Be responsive to tenant requests and keep them informed of any changes or updates related to the property. Establish clear communication channels and respond promptly to calls, emails, or messages. Keep accurate records Maintaining accurate records can help you stay organized and ensure that you are in compliance with local laws and regulations. Keep records of rent payments, maintenance requests, inspections, and any other relevant documents. Consider using property management software to streamline your record-keeping process. Know your legal obligations As a landlord, you have legal obligations to your tenants, including providing safe and habitable living conditions, respecting their privacy, and following eviction procedures if necessary. Make sure you are familiar with local laws and regulations related to rental properties and comply with them at all times. Of course, if you have a property in Lee's Summit, Raymore, Blue Springs or other surrounding areas, we'd love to assist you with all of your property management needs.
By Chris Goodale 07 Feb, 2023
Let's Dive Right In...
Inflation - Get A-Hedge On It
By Chris Goodale 26 Jan, 2022
Here's How to Hedge Inflation With Your Real Estate Portfolio in Lee's Summit, Blue Springs, Raymore, Grain Valley, Overland Park, Lone Jack, and Surrounding areas.
By Chris Goodale 14 Apr, 2021
When is the housing market going to crash? Will the housing bubble burst in 2021? These are common questions consumers are asking. We dive into the reasons behind the white hot real estate market in Lee's Summit, and what to expect from house price trends in 2021.
How to Cut Your HVAC Maintenance Cost on a Lee's Summit Rental Property
By Karen Wyle 26 Feb, 2021
Maintenance is an expense that most rental property owners dread. When you’re looking at what you spend on preventative, routine, and emergency maintenance, you’ll likely find that certain systems and functions are more expensive to repair and replace than others.
Investing in Real Estate: Where to Start | Lee's Summit Property Management Tips
By Karen Wyle 19 Feb, 2021
New investors often have the enthusiasm that’s required when it comes to buying and renting out properties, but the initial first steps can be confusing. Where do you start? How do you find a tenant? What makes a good investment property?
Lee's Summit Multi Family vs. Single Family Investing - Which is Right for You?
By Karen Wyle 12 Feb, 2021
If you’re thinking about investing in Lee’s Summit real estate, but you’re not sure which type of property to focus on, we have some things for you to consider.
Property Management Myths Do-It-Yourself Landlords Believe Should Not Believe
05 Feb, 2021
There are a few myths that do-it-yourself landlords cling to, and today we want to make sure you’re not believing the wrong things about property management. Now more than ever, it’s important to have a qualified, experienced professional leasing, managing, and maintaining your rental property.
Rental Inspections Best Practices Explained by a Lee's Summit Property Manager
29 Jan, 2021
Rental inspections are a necessary part of Lee’s Summit property management, and you need to ensure they’re consistent and productive. The purpose of inspections are to document the condition of your property, look for any deferred or unreported maintenance issues, and to ensure your tenants are following the requirements of the lease agreement.
Missouri Harsh Winters: How to Prepare Your Lee's Summit Rental Property
22 Jan, 2021
Winter is coming. There’s no avoiding it, and in Lee’s Summit, winter often means snow, freezing temperatures, ice, and wind. It’s important that you pay attention to the seasonal maintenance needs of your Lee’s Summit rental property. You want to protect your investment and the tenants who are living there.
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