When you buy a turnkey rental from MartelTurnkey, you receive a rental property that already has turnkey property management in place. We believe that property management is an important component of the passive income experience. Without property management, a rental property owner must handle all of the management of the rental by themselves. This adds significantly to the workload, which is the opposite of passive income. Some turnkey companies try to give the impression that property management is a walk in the park, and you don’t need to hire someone else to do it. If you’ve ever doubted the benefit of having a property management company, consider all the things your property management company does behind the scenes.

 

What Your Turnkey Property Management Company Does For You

1.  Evaluates Fair Market Rents

 

The turnkey rental properties we sell have already been evaluated for fair market rents. You can view this when you look at the sales page or download financials on the MartelTurnkey website. As time goes on and leases are renewed, your property management company will re-evaluate fair market rents. This is to ensure that you are always receiving as much rental income as you reasonably can. 

 

Fair market rent is determined by a range of factors, including location, square footage, number of bedrooms and, most importantly, what area rentals are charging. The process for calculating fair market rent is complex and time-consuming, which is why this particular benefit of property management companies is so valuable to landlords interested in true passive income.

 

2.  Keeps a Physical Eye on the Property

 

If you’ve been reading any of our blog posts, you know that the best value for turnkey rentals often exist in cities outside your home state. As such, it would be impossible for you to drive by your property once in a while just to see that it’s being kept in a reasonable state of upkeep. This is something else that your turnkey property management company does for you. They’ll keep an eye on the property, noting any potential issues with the exterior of the turnkey, such as:

 

 – The fence is in need of repair

 – The eavestroughs need cleaning

– The yard needs trimming and mowing

 

If anything is noticed, the property management company can take action sooner rather than later, which protects your investment. Of course, you’ll never hear about these casual drive-bys unless something needs to be repaired or replaced that needs your permission. It’s all part of your turnkey property management company services.

 

3.  Screens Tenants

 

When rental demand is high, your turnkey property management company may receive a bounty of applications for your turnkey rental property. Applications must be reviewed, background checks performed, and follow up communication done in order to get the best tenant in to interview or sign the lease. The property management company also keeps records on tenants they denied in case they need to defend their decisions. So when you see that your turnkey property management company screens tenants, you should know that there is a lot of time-consuming behind-the-scenes work involved with that.  The PM team wants the best tenant for you and for them, so they do a thorough job. And you don’t have to do any of it!

 

4.  Handles Tenant Calls

 

You probably already know that your turnkey property management company manages tenant requests for maintenance through an online portal. But did you also know that they have to handle all tenant calls – including just plain nuisance calls that aren’t crucial? For instance, tenants call property management companies about things like:

 

  – I got locked out

 – There’s a spider in the bathtub

 – The living room window is rattling and I can’t sleep

 

Now, these are probably important issues from the tenants’ perspective, especially about being locked out. But these examples demonstrate that these are the kinds of calls that your turnkey property management company  is taking on your behalf at all hours of the night, while you’re fast asleep in the comfort of your own home far away. It all happens behind-the-scenes, and you’ll never hear about it, except to know that your turnkey property management company services include handling tenant communications.

 

5.  Cleans In Between Leases

 

Do you love cleaning? Do you love cleaning up after other people? How about washing down walls and repainting? These are the things that your turnkey property management company does behind-the-scenes that you probably don’t think about. Every time a tenant leaves, a major cleaning has to take place. Some tenants are cleaner than others, but there’s always going to be a thorough, time-consuming task ahead. Every mark on the wall has to be erased or painted over. Inside cabinetry has to be cleaned. Refrigerators have to be polished to a shiny gleam, all so that new prospective tenants will be impressed enough with your turnkey rental property to apply. So even though you probably know that your PM “readies the property” for new rentals, there’s a lot that goes on with the details that is less obvious. 

 

This is just the tip of the iceberg as far as what your turnkey property management company does for you. So please don’t fall for anyone trying to tell you that paying for turnkey property management services isn’t necessary. If you want a truly passive income experience, work with MartelTurnkey, where you get true passive income with every turnkey rental property you buy. Every house listed for sale on the website is occupied and professionally managed. Take a look at our latest inventory here.