Whether you own individual rowhomes for rent or are a co-op member-owner, you've probably realized that the care and upkeep of D.C.-area real estate is no small task.
Keeping single-family and multi-family units clean and maintained while also making sure that your residents receive fair access to amenities and uphold the rules of the community can be a tremendous workload for solo property owners.
Thankfully, EJF Real Estate Services offers an incredible amount of value and support as property managers to investors in our area. There are certain benefits of real estate ownership that you cannot realize with only a few property units, and our hard work—and considerable years of experience—end up being your gain.
Today we'll explore several of the reasons why working with the right property management companies D.C. offers can help real estate investors experience new levels of growth and sustainability.
An Organized Approach Reduces Vacancy Rates
Filling a vacancy every once in a while on your own may seem like a small part of your work, but being out of practice can lead to longer-than-ideal wait times between renters. Quickly finding a renter makes the profitability of a property much more significant. However, finding your next resident is a balance between speed and security: you should never sacrifice the quality of your resident for the swiftness with which you place one.
As a property management team, we're accustomed to filling vacancies quickly—without compromising on the integrity of your renter.
- We stay organized enough to know what vacancies are approaching and begin seeking new residents promptly.
- Our support for you is motivated by our knowledge that we do better as a company when you do better as an investor.
- From experience, we know that excellent residents are happy to be able to move in promptly, too.
By keeping our fingers on the pulse of the best sources for new rental applicants, we save you the hassle of having to engage in your own marketing efforts as well. Additionally, our established presence in the D.C. rental market means we have the resources needed to handle such marketing for you.
Of course, this isn't the only advantage of working with the experienced property management companies D.C. offers. The right partner will have experience providing association management services as well.
Reducing Stress for Rentals Within a Community
The D.C. rental market is unique in that the vast majority of our available properties are located within cooperatives or other community structures. If you're an owner as a part of a co-op, you know that lots of decision-making falls on the association board that manages your community. This can occasionally get complicated when it comes to rental properties and where they fit into the framework of such a structure.
Working with an established presence in the D.C. area like EJF Real Estate Services allows you to eliminate the worry associated with such rental homes. As an experienced property manager, we've worked with every form of rental property in the D.C. area, from condos to rowhomes.
Let Us Find the Right Liability Insurance
Property management companies D.C. investors may encounter already have to make sure that their teams are appropriately insured for the risks they take on while maintaining properties. This means we generally have optimal insights for what kind of coverage is crucial for your particular property. It also means including clauses in your lease that ensure your renters have adequate protections, too.
Without the right partner, you'll take the liability on yourself or have to get to know the insurance world in order to avoid such costs. Our experience in this industry has given us the right connections and the know-how needed to provide recommendations on which coverage works to protect your investments.
Professional Maintenance Matters
Trying a 'DIY' approach for multiple properties or using bare-bones staffing can leave properties looking a little worse for wear; it can feel like it is no one person's responsibility to keep the community looking great. This kind of approach can quickly cause property values to spiral and destroy the investment you've made.
A professional maintenance team through your property manager keeps D.C. rowhomes and condos looking beautiful and inviting to new residents. Such care also encourages existing renters to renew.
When you work with the best property management companies D.C. has to offer, you'll gain access to local teams with a set schedule for routine maintenance as well as openings for emergency repairs. This leaves room for preventative maintenance to preserve your long-term wealth; keep things in great shape now, and you'll reap the benefits for years to come.
We Are D.C. Property Management Professionals
EJF Real Estate Services is an established property management company, and we've had decades to refine the processes that successfully serve property owners like you every day across D.C.
Many elements of excellent association-based property management involve knowing local and state statutes, quirks of housing markets, and the general demographics of neighborhoods. By learning what works specifically in our community, we create procedures for successfully leasing out single-family homes, rowhomes, and condos that have stood the test of time.
Even highly experienced investment property owners turn to EJF Real Estate Services to outsource the daily work of their properties to someone trustworthy. However, not every property manager in the D.C. area can provide such an extensive level of care and service.
How do you know you're working with the best one? Survey your current property management partner—or carefully select a new one with ease—using your free copy of our Guide to Finding the Best Property Management Professional in Washington D.C.!