Do you have an extra house or condo that’s sitting vacant? Do you want to enjoy a steady stream of recurring revenue by letting someone live there and pay you rent? It might seem like a simple job to be a landlord. However, many landlord are finding that it a second full-time job and they can’t wait to quite. A quick internet search reveals hundreds of horror stories like the ones here about how nightmare tenants make life untenable for property owners. For first time real estate investors as well as seasoned pros, the benefits of outsourcing the day-to-day management of the property are evident. Here are a few of the most common reasons.
Houses and condos don’t stop costing you money just because no one is paying to live in them. A property is only profitable if it is rented out for as long as possible at the best rate possible with as few vacant months as possible. So, a property management company can help you:
No matter how much you may like the people renting your property, you REALLY don’t want them calling or texting you over every little thing. You also don’t want to let your fondness for them get in the way of making smart decisions. Therefore, a property management company adds a layer of accountability and professionalism between you and your tenants. They take time consuming tasks off your plate including:
As the landlord of a property, you might think you are in the position of power and authority in a rental situation. But tenants not only have well-defined rights, they have the advantage of being in your property where they can cause all kinds of mischief. The best way to avoid nightmare scenarios is through careful vetting of prospective tenants. A property management company knows all the tricks that scammers use and the best ways to screen for potential trouble-makers. So, they can greatly reduce the risk of your property being rented by someone who will
Partnering with a company that is an expert at property management has many advantages. They can:
With a property management company covering the bases on the home front, you won’t be tied to a particular location. You can go on vacation, move away, buy additional real estate in other areas, and simply cash the rent checks each month. There’s no shame in being an absentee landlord when you know that your tenants are being well cared for by a company that is dedicated to creating a win-win for everyone involved.
Contact Ardent Residential for a free pricing and rent analysis today if you are interested in renting out your house.