If you'd like to become a real estate investor, you will need to choose between rental management and tenant placement.
Both rental management and tenant placement offer several services that can help you attract tenants to your properties. However, only rental management can benefit you beyond that, so which one is right for you?
Here at PMI Fountain City, we can ensure you get the most out of your real estate in Kansas City. In this guide, we will go over the main benefits of each option to help you get started!
What Is Rental Management?
Rental management, or property management, involves using a variety of strategies to maintain several types of properties.
When working with a rental management company, you can outsource many tasks that would otherwise take up a lot of your time. Some of the most common ones that owners outsource are tenant screening, maintenance, and rent collection. However, many companies are willing to do much more than that.
Despite handing task responsibility over to a property manager, you can still decide how to manage your properties. For example, you can choose to outsource certain tasks while taking care of everything else yourself. If you choose to outsource everything, a property manager will regularly discuss things with you to ensure you're both on the same page.
What Is Tenant Placement?
Tenant placement is similar to rental management in that these types of companies can help you attract and screen tenants. Yet, the benefits of tenant placement do not outweigh the ones that rental management offers.
Tenant placement companies do not provide services that cover the likes of property maintenance, rent collection, evictions, and more. However, if your only concern is filling your rental properties, tenant placement can help you at an affordable rate.
With a tenant placement service, you will be responsible for all property management-related tasks. After a company finds suitable tenants for you, their job is finished.
How to Choose
Choosing between rental management vs tenant placement is as simple as deciding what your priorities are.
If you'd like to be a real estate investor who actively involves themselves with their properties, tenant placement may be a better option. Contrarily, an investor who wants to have more free time and potentially earn more money will likely benefit more from a rental management service.
Both services can help you learn how to find tenants. However, only rental management can assist you beyond that.
Invest in Property Management Today
After reading this quick guide, you now know about the main benefits of both rental management and tenant placement. With this information in mind, you should consider investing in rental management to get the most out of your properties.
If you have a strict budget, tenant placement can help. However, to maximize profits in Kansas City real estate, rental management will make things much easier.
PMI Fountain City is here to assist you with all of your property management needs. Contact us now to find out how we can help you take things to the next level!
