A lot of people who are starting out as a landlord manage their rental home as a “side hustle” – that is, they often have a full-time job and manage their rental properties on the weekends. While this method of handling property management may work in the beginning, it won’t last for long. Investors who are looking to rent out more than one property or who are looking to expand outside their hometown will soon realize that real estate investing is not a one-person job. To obtain and manage multiple rental homes successfully, it will take a team of experts who have the expertise and commitment to helping the value of your property increase year after year.
Although the rental property business is frequently grouped in the “passive income” category, owning and managing a successful one is actually a hands-on occupation. As a Summerfield owner-landlord, you’ll have to be constantly on call. If you’ve got a full-time job or have other obligations that make you busy for long stretches of time, you may frustrate some tenants. Your unavailability may mean that you couldn’t answer their calls or act quickly to their requests for repairs and maintenance.
There are some tenant requests that must be addressed right away. Emergencies at a rental property obviously cannot be scheduled, they can happen at any time and any day. If an owner-landlord doesn’t respond quickly to emergencies like a water leak, this may result in serious problems. Not only will neglecting a problem potentially lead to extensive damage and far more expensive repairs, but tenant satisfaction will likely decrease as well. Your scarce availability may send the wrong message to your tenants. It may make them think they are low-priority, and this would lead to poor tenant retention.
Another crucial thing that weekend warriors must take into account is how the rental industry keeps on changing. Both the renters and the property owners have expectations that their property managers have to live up to, and rightly so. They expect to see professionalism in their dealings with the managers. Renters, in particular, have been using services such as online rent payment, making transactions very convenient. They’ve also been accustomed to having an unbiased resource to help them when a problem occurs. On numerous occasions, they look for a particular level of professionalism when finishing repairs and other management duties.
Measuring up to these expectations is something in which excellent property management companies are found to be unparalleled. As specialists in the business of property management, the office will give a mixture of added benefits that hopefully will assist keeping your Summerfield rental properties full, commercially successful, and shipshape. They should have good contacts with service providers and vendors who can offer cost-effective quality maintenance and repairs. They must also have considerable proficiency in Landlord/Tenant law, and be able to put to use that skilfulness if and when any disagreements or out of the ordinary incidents become apparent.
For property owners looking to exchange the trouble of a side hustle for the chance of living as a professional real estate investor, consider hiring the property management company with over 30 years of experience helping people do just that. Thousands of property investors across the country have discovered the difference that hiring Real Property Management makes. We have the expertise and tools that renters are looking for. And for the investors, we also have the systems, technology, and the industry contacts that are needed to maximize the earnings of each rental home. Please contact us online or call us at 336-355-6677 or 336-777-7444 if you want to learn more or are interested in working with Real Property Management of the Triad.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.