9 Tips to Have Better Relationships with Your Grand Rapids Residents
Fostering positive relationships with your residents in Grand Rapids is fundamental to achieving a harmonious and successful rental experience. Whether you own a single property or manage multiple units, the quality of your relationships with your residents can significantly impact your rental business's overall success. Implementing effective strategies not only builds trust and enhances satisfaction but also improves resident retention rates, reducing turnover costs and ensuring a stable income stream. In this article, we'll introduce nine e…
Hiring a Property Manager vs. Self-Managing: What’s Better?
Being a landlord involves more than just owning a property and collecting rent. It encompasses a multitude of responsibilities that can be time-consuming and challenging to manage effectively on your own. New challenges in your property management journey might lead you to question whether to take on the responsibility of managing your rental properties yourself or working with a professional property manager. This decision carries significant implications for the success of your investment and your overall peace of mind. In this article, we'l…
Tips to Keep Your Property (and Investment) Safe
Protecting your home and investment property is paramount in today's world. At Compass Property Management, we understand the significance of security for protecting your property and your peace of mind. Our experts offer valuable tips and advice, ranging from simple measures to cutting-edge technologies, to help you safeguard your home and investment. In this article, we'll explore practical strategies and innovative solutions to enhance the security of your property, ensuring that your valuable assets are well-protected. How to Improve Your …
Is a Month-to-Month Lease Better for Landlords?
If you own a residential property and want to rent it out for a shorter period of time, you may want to consider a month-to-month lease agreement. Most traditional lease agreements last at least 12 months, so choosing to opt for a month-to-month lease can come with a few benefits. There are various situations in which a month-to-month lease will make more sense, such as planning to sell the property or renting in an area where shorter lease periods are more sought after. We will discuss the pros and cons of opting for a month-to-month lease in…
Pricing Your Grand Rapids Home to Rent
Pricing a rental property in Grand Rapids, Michigan, requires a strategic approach. As a landlord, setting the right rental price for your property is crucial to balancing competitive market rates with your property's unique features and the current market demand. This guide will walk you through the essential steps and considerations for effectively pricing your Grand Rapids home for rent. How to Price Your Rental Property 1. Understanding the Grand Rapids Rental Market The first step when pricing your rental home is to gain a solid understan…
