On any given day, investors who own rental property want to buy more or they want to get rid of what they have. In most cases, it doesn’t have to do with the satisfaction of the investment itself; it has more to do with the management.
Managing property and dealing with tenants can be headache and it may not be the best use of an investor’s time and effort. The solution isn’t to sell the rentals but to get a property manager.
To begin with, managers understand the landlord tenant laws and what is required and what makes good business sense. They are familiar with all the necessary paperwork, documents, and procedure that a casual investor may not be.
Property managers usually have connections with workmen and service providers to get repairs done right, at lower prices and in a timely fashion. Your manager can handle issues with tenants that seem to come up in the middle of the night or on a holiday weekend.
Some investors have taken on the duties because they’re trying to save the management fees. It is very possible that professional management can shorten vacancy times, increase rents, and lower expenses which might not only cover the cost of the fee but increase your cash flow.
Being a real estate investor and managing the property are separate decisions. You might enjoy being an investor a lot more if you had professional management. For a recommendation, give me a call at (843) 683-9592 or download Rental Income Properties.