Welcome to some of my more informal insights into the world of Real Estate. Here I’ll introduce some of the hot topics within the industry and add some of my tips to help you make the most of your career in this business.
3 Reasons You Shouldn't Be the Landlord
Being the landlord of your own property sounds pretty easy. You just have to collect rent and take care of the occasional maintenance on the property, right? Unfortunately, being a landlord comes with a host of responsibilities. Hiring a property manager to handle those issues can make your life much easier. The reality is, you shouldn't be the landlord--and there are plenty of reasons why.
No middle of the night calls. When you're a landlord, you can't guarantee the tenants you'll end up with. Some will be practical: a minor leaking faucet or even a power outage can wait until morning to be dealt with. Other tenants will call you at every hour of the night with the smallest possible "emergencies," insisting that you climb in your car immediately to deal with them. When you hire a property manager to take care of those calls, you'll never be dragged out of bed in the middle of the night again.
Make rent collection easier. You have to collect a check from your tenants every month. From the need to adapt your schedule in order to be able to meet them to feeling harried and stressed as you chase down a tenant who is late with their rent yet again, collecting rent can be one of the most difficult parts of being a landlord. When you hire a property manager, you don't have to worry about any of it: just sit back and let them take care of it for you.
Repairs are far simpler when you use a property manager who already has a network in place. Do you know the best person in town to handle a plumbing emergency? What about the best contractor for repairing damage to the roof after a storm? Chances are, a property management company has a strong network of providers working for them, potentially even with discounts due to the high volume of service they offer. You'll never sit scouring the internet for someone to fix up your rental property again.
If you're convinced that hiring a property manager is the right solution for you, contact us today! We'll make owning a rental property one of the easiest things you've ever done. Whether the rental income is your retirement fund or extra income on the side, you'll be glad that you handed over the responsibility so that your time can be used for other tasks.