Managing Residential Properties for Student Rentals

Managing Residential Properties for Student Rentals

Student rentals bring in thousands of dollars in positive cash each month, which makes them a highly lucrative source of income. But, they also require a serious approach to tenants and property upkeep. Most renters choose to work with an expert residential management service provider, and for a good reason. Having a professional who is experienced with student rentals is your best choice for your financial benefit and peace of mind. Here’s what an expert from a reputable company like Latitude Limited can do to take the student rental load off your back:

Tackle the Relationship With Students

You want to be on good terms with your tenants, but students are a very specific group. They often don’t have the time or knowledge to maintain a home all by themselves, so they’ll need frequent consultation. If you handle a student rental on your own, your phone might be ringing a lot. Your tenants might need most mundane information, from how to change a light bulb, to starting an appliance they haven’t used before. If handyman work isn’t your primary occupation, this could be a problem. You’ll feel a lot more comfortable knowing that an experienced property manager is aiding the students without bothering you.

Handle Emergencies & Maintenance

Every home needs year-round maintenance, and so does a rental. Tenants aren’t the ones in charge of major repairs and improvements, you are. Your rental will require maintenance of installations, inspections, and adjustments of roofs, basements, pipes, air conditioning, as well as seasonal inspections and repairs of doors and windows. Latitude Limited offers all of these services, plus exterior residential management service maintenance tasks such as cleaning, landscaping, and garden maintenance. If you neglect to maintain your student rental, leaks, breakdowns, and emergencies could happen very soon. If you already have your own home to care for, an additional one might be too much for you. Here enters a reputable property management company to handle all of these jobs for you.

Regulations and Contracts

Renting requires adherence to a vast range of permits and regulations. You’ll have to make sure that the residence is safe for students, with measures installed against fires, floods, and criminals. Moreover, landlord-tenant contracts and leases aren’t simple to put together, so you’ll need someone experienced to point out all the important aspects of this relationship you should define and put down on paper. Latitude Limited handles all residential management service aspects of your relationship with tenants, including contracts and property permits.

Can’t Manage All of the Student Rental Tasks? Turn to Latitude Limited

To sum up, managing a student rental will require performing a range of tasks, from writing contracts to maintaining the property and making structural improvements. This is a simplified list of tasks, while the real deal branches into a full-time endeavor you most likely can’t handle on your own. Even managing maintenance contractors on your own could be overwhelming. Latitude Limited specializes in all of these tasks, with a reputable background and experienced mannerism that will keep you on great terms with your tenants.