Located on the banks of the Missouri River, Council Bluffs is in the southwest of Iowa, just over the Nebraska border and about 10 minutes from Omaha. Most people in Council Bluffs own their homes, which creates a unique challenge for landlords and property owners who have investments to rent out. You need to know how to make your rental property more attractive to tenants, and you need to understand the market demands and the residents who are looking for homes.
As expert property managers in Council Bluffs, we have a keen sense of what’s needed to effectively rent out a home and manage a property here. We’re taking a look at some of those unique challenges today. If you’re thinking about investing in Council Bluffs, you should know that all of these challenges are manageable. When you’re partnered with a good management company and you’re willing to invest in making your rental property the best it can be, you’ll earn high rents and enjoy long-term stability.
Here are the challenges that a lot of rental property owners find themselves running into while renting out a home, and how we can provide resources and support as a Council Bluffs property management company.
Attracting and Retaining High-Quality Tenants
The key to a successful investment experience is keeping your property occupied with well-qualified tenants. One of the challenges in our market is that tenants can easily choose a city like Omaha over Council Bluffs when they’re looking for rental property. You will need to make your rental home irresistible to tenants if you want to attract them and keep them.
Attract tenants by offering a well-maintained, attractive home. Pay attention to your curb appeal and give prospective residents a sense that they’re being welcomed into their new homes. When your marketing photos advertise a property that’s clean, updated, and attractive, you’ll inspire immediate showing requests. Once they’re inside the property, show it off. Eventual residents will need to see a move-in ready property. They’ll want to imagine themselves moving right in.
Once you have a tenant in place, you need to immediately focus on retaining that tenant. Many Council Bluffs property owners find this to be a challenge. Residents end up buying a home, moving out of the area or looking for something else. Encourage them to renew their lease agreements by providing an outstanding rental experience. This requires:
- Responsive maintenance
- Excellent communication
- Conveniences such as online rental payments
- Attractive amenities
- Reasonable rental increases
Long-term tenancies are beneficial for both landlords and tenants alike. To encourage long-term rentals, consider offering some kind of incentive such as discounted rent or free services such as landscaping. This could be exactly what convinces your renters to stay put instead of moving on in search of lower rent or better amenities elsewhere. Don’t forget to update your lease agreement with the new terms.
The rental market is in a unique place, currently. With homeownership more expensive for a lot of would-be buyers, more tenants are remaining in their rental homes. You can leverage this, and turn what is normally a challenge into an opportunity.
Providing Cost-Effective Maintenance and Repairs
Another challenge for rental property owners in Council Bluffs is the cost of keeping rental property maintained. Costs for labor, materials, and supplies have risen recently. Finding qualified vendors and contractors who are available to do the work is sometimes a challenge as well. This can be disruptive to your investment success. You need to keep your property maintained in order to protect its condition and its value.
One of the most important things you can do as a landlord is to be responsive and proactive when it comes to making the repairs that your tenants request while they’re living in your home. You also need to inspect and maintain it before you list it on the market. No one wants to move into an apartment or a home that looks like it’s falling apart or has broken appliances.
We solve this challenge as a Council Bluffs property management company by providing in-house maintenance services to the owners and investors we work with. Our maintenance team is talented, available, and energetic. We have the capacity to take care of any repairs you need, whether it’s a small fix at your single-family home or a large project at the apartment building you own.
Working with our in-house maintenance team means costs are contained and scheduling is completely under our control. There are fewer hassles, zero price negotiations, and less worry over incompetence.
Managing Time and Tenants in Council Bluffs
Rental property owners must be prepared to answer the phone at 3:00 in the morning when your tenant calls to report a leak that is turning into a flood. This is not a challenge that’s necessarily unique to investors and landlords in our market, but it’s still a big frustration that needs to be dealt with when you’re renting out a home. Remaining available 24 hours a day is difficult.
There’s a lot of time and stress management involved in renting out a property.
Managing a rental home is stressful, especially when it’s your property. You may have an emotional response to some of the things that happen there, and if your tenant isn’t performing as you expected, your stress level can really get out of control.
It takes time and it takes patience and it takes a business-like approach. Property managers can provide some distance between you and your investment property. We can also act as the liaison between you and your residents, taking much of the emotion out of it. Dealing with residents can be difficult, especially when there are conflicts and disputes.
Property managers can protect your time.
We also protect your property by staying up to date on local, state, and federal laws. There are a lot of laws that govern the way landlords must treat their tenants and the way rental properties must be managed and maintained. These laws, of course, are always changing. So, it can be a challenge to educate yourself on them and stay up to date on the nuances of every regulation.
We can take some of the pressure off you when it comes to meeting the challenges of renting out a property. Please contact us at Kouri Management when you’re looking for Council Bluffs property management. We provide expert leasing, management, and maintenance services in Council Bluffs and Omaha, Nebraska.