Dayton is a unique rental market in that while there is a pocket of local investors and landlords, the majority of real estate investors are living outside of Ohio. At ManCo, we work with investors from New York to Florida to California, and even people who live outside of the country. This is an attractive market for investors, and that means there’s a lot of interest from all over the world.
This highlights the importance of working with a Dayton property manager before you purchase a rental property. The best way to maximize what you earn and limit what you spend, however, is to work with a management company early on in the investment process. Don’t worry, if you already own a home that you need to have managed, we can help you out, too.
Understanding the Local Dayton Rental Market
A real estate agent or broker will do an excellent job of helping you to negotiate the terms and price of your home purchase. A property manager brings a different set of skills and knowledge to your investment deal.
Your local, professional property management company will have the tools to tell you what the rental value will be of a potential investment property. You’ll know how much you can earn before you buy it. There’s nothing more devastating than buying a property that you think you’ll rent out for $1,200 only to find out the market will only get you $900. You need access to accurate rental data, and a property manager can deliver that far more reliably than a real estate agent who knows more about sales value.
Property Management Technology
Many of the investors we work with buy a property without ever seeing it. This is made possible by the technology we provide to potential buyers. We offer detailed and comprehensive photos, take videos, and provide narratives so investors get a good feel for the property they’re buying. Once an investor has a rent-ready unit, our property management software offers full-service options for moving the property through the process of marketing and leasing. Everything from listing and showing a unit to submitting an application and completing a lease can be done virtually.
Inspections and Rental Property Readiness
At ManCo, we provide investors with a pre-purchase analysis of the property. We’ll take on all the due diligence that’s required to inspect the property and make recommendations on what kind of work may need to be done before it hits the rental market. We have an architect on staff and we can provide detailed estimates of what those repairs and upgrades may cost. This helps you make smart financial decisions about the investment properties you want to acquire and those you want to avoid.
Whether you’re a local Dayton owner or a remote landlord who understands the value and the benefits of the Dayton rental market, we are here to help you make smart investment decisions. Our expertise is in property management and investment homes, and we’re here to help you before you purchase an investment property.
We want to make the investment process as easy and stress-free as possible. If you’d like to talk about the investment opportunities available to you in the Dayton real estate market, contact our team at ManCo Property Services. We can’t wait to tell you more.