If you recently purchased or currently own a rental property, you may be thinking that self-management would be easy enough. After all, how hard can it be? Place a tenant, the rent will arrive every month, avoid the expense of a Property Manager…sounds easy enough.
…….Until your perfect tenant moves out…………
What now? How do you find someone new? Do you have the time to find someone new? Where do you advertise? Do you know the laws…Fair Housing, Landlord-Tenant Law, local laws, etc?
Once the calls start coming in, do you have the time to take the calls? Do you have any sales experience? Do you know how to pull Credit Reports, obtain financial histories and other details?
…….Until your perfect tenant moves out…………
What now? How do you find someone new? Do you have the time to find someone new? Where do you advertise? Do you know the laws…Fair Housing, Landlord-Tenant Law, local laws, etc?
Once the calls start coming in, do you have the time to take the calls? Do you have any sales experience? Do you know how to pull Credit Reports, obtain financial histories and other details?
Here is one Landlord’s story:
My wife took the call from a prospective tenant, spoke with the person for some time and hung up. “We are so lucky, there are the perfect renters. Two young women who love to decorate and work in the garden. They are going to be great.” I was a bit concerned that we should get more information on them, but my wife said “Oh, they have jobs, no worries.” We decided to make a call to the previous landlord. Oh yeah, that was a good idea! Our fabulous prospective tenants were described as “the tenants from hell”. They had gotten into a row with their landlord over delinquent payments and when they left, they trashed the place. We were both listening on separate phones and we looked at each other and sighed.
We had never thought the time would come when we’d so eagerly accept the idea of paying someone else to manage our property, but that Management Fee sounded very cheap! In the twenty-five years since, we’ve purchased several more rentals and we have never regretted our decision to outsource the day-to-day responsibilities to the experts.
Benefits of using a Property Manager
Screening out problem tenants:
While there is no way to 100% predict what a tenant will do, experienced Property Managers see hundreds to thousands of applications, so their trained eyes are more likely to notice potential red flags when reviewing an applicant’s paperwork. Letting Turn-Key Properties, LLC manage the tenant screening process can improve your chances of landing a reliable tenant.
My wife took the call from a prospective tenant, spoke with the person for some time and hung up. “We are so lucky, there are the perfect renters. Two young women who love to decorate and work in the garden. They are going to be great.” I was a bit concerned that we should get more information on them, but my wife said “Oh, they have jobs, no worries.” We decided to make a call to the previous landlord. Oh yeah, that was a good idea! Our fabulous prospective tenants were described as “the tenants from hell”. They had gotten into a row with their landlord over delinquent payments and when they left, they trashed the place. We were both listening on separate phones and we looked at each other and sighed.
We had never thought the time would come when we’d so eagerly accept the idea of paying someone else to manage our property, but that Management Fee sounded very cheap! In the twenty-five years since, we’ve purchased several more rentals and we have never regretted our decision to outsource the day-to-day responsibilities to the experts.
Benefits of using a Property Manager
Screening out problem tenants:
While there is no way to 100% predict what a tenant will do, experienced Property Managers see hundreds to thousands of applications, so their trained eyes are more likely to notice potential red flags when reviewing an applicant’s paperwork. Letting Turn-Key Properties, LLC manage the tenant screening process can improve your chances of landing a reliable tenant.
Acting as the point of contact for tenant concerns:
Furnaces break down in the middle of the night and on holidays, too. Do you want to take these calls 24/7? A Property Manager can address problems at all hours and arrange for a service provider to make repairs. Or if you have a tenant who always seems to have a complaint, be it the noisy neighbors or the barking dog next door, you can breathe easy knowing the Property Manager is the point of contact for these calls.
Furnaces break down in the middle of the night and on holidays, too. Do you want to take these calls 24/7? A Property Manager can address problems at all hours and arrange for a service provider to make repairs. Or if you have a tenant who always seems to have a complaint, be it the noisy neighbors or the barking dog next door, you can breathe easy knowing the Property Manager is the point of contact for these calls.
Decreasing tenant turnover:
A good Property Manager knows how to keep their tenants happy. They are responsive, available and take care of problems as they arise. Happy tenants are less likely to look for another place to live and more willing to accept reasonable rent increases.
A good Property Manager knows how to keep their tenants happy. They are responsive, available and take care of problems as they arise. Happy tenants are less likely to look for another place to live and more willing to accept reasonable rent increases.
Ensuring rent is paid on time:
Since Property Managers deduct their fees from the monthly rent, we are motivated to keep those payments flowing in. Property Managers will enforce Lease policies if payments are not received. It is so much easier for a tenant to give you a sob story and make you feel like a heel for demanding the rent. We can easily treat the situation as the business situation that it is and collect the rent you deserve. We know the proper steps to deal with the situation, including filing eviction, if needed.
Since Property Managers deduct their fees from the monthly rent, we are motivated to keep those payments flowing in. Property Managers will enforce Lease policies if payments are not received. It is so much easier for a tenant to give you a sob story and make you feel like a heel for demanding the rent. We can easily treat the situation as the business situation that it is and collect the rent you deserve. We know the proper steps to deal with the situation, including filing eviction, if needed.
Reducing your rental headaches:
If Turn-Key Properties, LLC is handling the daily management of your rental property, you will have fewer complications and commitments to worry about. It will give you more time and less stress in your life.
Investing in rental real estate can contribute to your monthly cash flow and build long-term wealth – but day-to-day management is not for everyone. If you just want a rent check and don’t want to be responsible for all of the details, leaving it up to the pros can make your life easier and ultimately increase your bottom line. Call Turn-Key Properties, LLC today and enjoy your life!
If Turn-Key Properties, LLC is handling the daily management of your rental property, you will have fewer complications and commitments to worry about. It will give you more time and less stress in your life.
Investing in rental real estate can contribute to your monthly cash flow and build long-term wealth – but day-to-day management is not for everyone. If you just want a rent check and don’t want to be responsible for all of the details, leaving it up to the pros can make your life easier and ultimately increase your bottom line. Call Turn-Key Properties, LLC today and enjoy your life!
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