Are you considering investing in rental real estate in Memphis, TN? If so, we’re here to tell you that you’re about to take on a potentially lucrative job and career.
ZipRecruiter.com says that landlords in Tennessee make an average of $79,217 yearly, but in Memphis, they make considerably more: $84,790 a year!
Still, being a landlord and self-managing rental properties can be time-consuming, labor-intensive, and stressful. Fortunately, you don’t have to do everything yourself. A highly experienced and reliable Memphis property management firm can help maximize your return on investment (ROI).
The property management experts at Reedy & Company have shared insights into how real estate management and investment property services can help you get the most out of your assets, so please read on.
Rental Analysis for Strategic Pricing
A highly respectable and experienced Memphis property management firm can help maximize your ROI through accurate rental valuation or analysis. It’s a data-driven, mathematical, and scientific process that involves:
- Market Research: Understanding Memphis’s rental market and real estate trends, including vacancy rates and average rental prices, for accurate property comparison
- Comparable Properties: Comparing your rental property to comps, or similar properties, to determine the highest amount renters are willing to pay
- Pricing Factors: Considering factors such as the property’s location, size, condition, and amenities when determining rental rates
Accurate rental analysis is crucial to maximizing ROI because it allows for strategic pricing. You can set the optimal rental rate to attract quality tenants and achieve your income goals. Moreover, it’s your ticket to boosting occupancy rates.
Effective Marketing
A highly experienced Memphis property management firm grants you access to rental property solutions designed to give your investments the most exposure possible. Some of the most crucial strategies they use to advertise and market rental real estate properties include the following.
Creating Irresistible Property Listings
Your dedicated property manager will help you create irresistible property listings to grab prospective tenants’ attention. Creating these listings involves:
- High-Quality Photography: Professionally taken photos, which are necessary to showcase your property’s best features
- Compelling Descriptions: Highlighting key features, unique selling points, and describing their benefits
- Pricing Justification: Combining words and photos to describe your property and make it easier to see why its price is justifiable
Using Multiple Rental Listing Websites
To ensure your property gets as much attention as possible, your property manager will market it on multiple established and trusted rental sites, such as
- Apartments.com
- Realtor.com
- Trulia
- Zillow
- Avail
- Social media
Rest assured, your manager will also handle communications with interested parties. They’ll also respond to inquiries and schedule open houses. Moreover, they’ll coordinate and conduct viewings on your behalf.
Implementing Search Engine Optimization (SEO) Tactics
Using search engine optimization to garner attention and connect with the right crowd has become all the more crucial, and it applies to rental real estate listings, too. Implemented correctly, SEO can help potential renters find your property faster.
A seasoned property manager in Memphis will help you achieve your desired SEO results by incorporating relevant keywords and key phrases into your listings, including:
- Location-specific, geographic terms: E.g., your property’s specific address and neighborhood information
- Property type: E.g., if it’s a 2-bedroom apartment, a duplex, or a condominium
- The property’s unique selling points and best features: E.g., whether it has a pool, a modern kitchen, a patio, a balcony, or a lush garden
You can also expect your property manager to stay in the loop of the latest real estate trends and news to see if anything about your property aligns with them. For example, according to a recent article from AOL, some of the hottest, most sought-after home features for 2025 are:
- Eco-friendly electrical aspects (e.g., solar panels)
- Wet rooms
- Flood barriers and other climate protection features
If your Memphis rental property has one or more of the above features, expect your property manager to provide information about them in your property listings. Doing so can help your property marketing’s SEO campaigns and boost positive results.
Legally Compliant Tenant Screening Process
Exceptional tenant management in Memphis starts with a comprehensive screening process. When you partner with a reliable property management firm, expect them to perform the following vetting steps that comply with federal, state, and local Memphis fair housing laws.
Credit and Income Checks
Credit and income checks assess a rental applicant’s ability to meet rental payment duties and how financially responsible they are. Such procedures provide invaluable insights into the following financial aspects of each of your prospective tenants:
- Length of credit history
- Total debt load
- Debt payment history
- Types of credit accounts
Your property manager will review all those factors to gauge whether a rental applicant poses a risk of nonpayment and eviction. For example, a history of missed payments can signal trouble ahead, while a spotless credit report often indicates financial reliability.
Criminal Background Check
NCSL says that around a third of U.S. adults have a criminal record. To determine if your rental applicants are among them, your property manager will conduct criminal background checks on each of them. They will look for convictions and assess whether such historical behavior can pose a risk to your:
- Rental property
- Investment income
- Other tenants
- Neighborhood
Rental History Verification
Your property manager should also conduct rental background checks, including eviction histories. They’ll contact each rental applicant’s previous landlords and ask them relevant questions about the tenant’s past behavior. For example, they may ask how responsible the renter was and if they paid rent on time.
With all this information, your manager can gauge which applicants will be excellent tenants who’ll help maximize your rental income.
Reedy & Company: Your Top Choice in a Memphis Property Management Firm
From conducting rental valuation for strategic pricing to professionally marketing your property and finding you the best tenants, these are just some of the top ways a highly reliable Memphis property management firm can help you maximize your investment ROI.
Let our full-service property management firm, Reedy & Company, be the partner you can always rely on. We’ve been delivering exceptional solutions since 2002, but our team has over 40 years of experience managing properties. We’ll use our expertise, skills, and local knowledge to help maximize your ROI and profits.
Call us today to learn more about our services!
