For the first time in 2024, Naperville, Illinois, earned the title of being "the best city to live in America." It also ranked as one of the best places to raise a family.
That's fantastic news if you own an investment property in Naperville. Those qualities will likely attract more people to the city, which can then translate to more prospective tenants.
A property management company can help you capitalize on all that while protecting your property. Here's how.
Verify Tenant Viability
On average, U.S. landlords file around 3.6 million eviction cases yearly. The most common reason is non-payment, followed by lease violations.
Not all evictions are avoidable, but you can minimize your risks of dealing with them by thoroughly screening potential tenants. In doing so, you can determine if a prospective renter:
- Is who they say they are (using identity verification)
- Has a stable source of income (with income verification or employment history check)
- Committed a crime or has an arrest or conviction history (through a criminal background check)
- Faced previous evictions (by checking court records)
- Always paid rent on time (by reviewing rental history)
So, if you don't have time to conduct all those checks, you should hire a property manager. These experts use state-of-the-art technology to complete those processes quickly yet thoroughly. They also offer eviction protection plans, which cover you if they must evict a tenant they screened.
Oversee Regular Property Maintenance
As an Illinois landlord, one of your legal responsibilities is to ensure your property meets health and housing codes. Your rental property should be in good condition and have working amenities and systems (e.g., HVAC, plumbing, and electrical). It must also be free of hazards, such as mold or pests.
One of the most effective ways to ensure your property meets those conditions is to conduct regular property maintenance and inspections. That also helps protect your investment portfolio, as maintenance is essential to retaining your asset's value.
A property management company can take over all those critical tasks for you. They work with reputable and licensed contractors to ensure your properties remain safe and habitable.
Assist With Prompt Rent Collection
An experienced property manager can help you find financially responsible tenants through their thorough screening process. They can lower your risk of dealing with renters who may consistently pay their rent late or, worse, not pay at all.
They can also help you collect on-time rent with their 24/7 online tenant portal. The latter allows renters to pay anytime, including weekends and holidays. So they won't have to wait for the next banking day to pay rent.
Let PMI West Suburban Protect Your Investment Property
Now that you know how a property management company can help protect your investment property, it's time to partner with one you can rely on and trust.
Our company, PMI West Suburban, is here to help. We provide full-service property management solutions, including free rental analysis, marketing, accounting, rent collection, property maintenance, and eviction protection. We also back our services with warranties, including our "Happiness Guarantee" and "On-Time Rent Guarantee."
So, if you're ready to maximize your rental income in Naperville, IL, speak with us today! We'll happily answer all your inquiries and discuss how we can protect your properties.
