If you own property and are thinking about using it as a rental or managing it yourself, ask yourself these questions:
- Do you keep abreast of the ever changing fair housing laws and other legislation regarding tenancy, including lead-based paint and toxic mold policies?
- Are you concerned about the possibility of a tenant suing you?
- Do you like dealing with the collection of rents, late payments, and non-sufficient fund notifications?
- How about confrontations with tenants about taking care of the property or paying rent on time?
- Do you dread dealing with the move-out, advertising, move-in process that occur between tenancies?
- Do you struggle with the advertising and showing your vacant home, collecting rental payments, paying vendors, and performing all of the accounting necessary on your rental property?
Managing rental property involves a myriad of tasks, all of which can cause a significant drain on your time and patience. Some, if not handled properly, can also create a significant drain on your cash flow – and can even put you in the red.
Those tasks include:
- Determining fair market rents
- Advertising to find tenants
- Showing the units
- Accepting rental applications
- Screening tenants
- Preparing and enforcing rental agreement contracts
- Collecting rents
- Dealing with rental agreement infractions
- Handling tenant complaints / concerns
- Arranging and overseeing maintenance and repairs
- Bookkeeping
- Adhering to tenant-landlord laws
- Evicting tenants when necessary
If you’re new to rental property ownership, or if you’re just weary of handling all these tasks yourself, get in touch. We have been managing residential properties for 15 years, and we have the systems in place to handle these tasks for you. We can also guarantee you rent money every month. So contact us today.