I Just Bought My First Investment Property. Who Do I Call To Take Care Of It?
After months of searching, you finally found your first investment property. But now that it's yours, you're not sure what to do with it! Who should you call for all the maintenance? What about taxes? And how can you make money on this thing? It is important to find answers to your questions quickly. The first thing you need to do is to find a property management team that you can trust and will be on the same page as you.
What Is Property Management?
Property management is the job of taking care and monitoring real estates, such as residential, commercial, or land. Similar to the duty of managers in any organization- who are responsible for handling everything from marketing their company's products to making sure that everyone on staff has what they need to be successful-, property managers have many responsibilities which include overseeing maintenance issues like faulty water pipes or broken windows; hiring contractors when necessary; paying bills for utilities and other services including garbage pickup service provider and refuse disposal companies; collecting rent payments according to contractual agreements with tenants; ensuring compliance with federal laws governing housing standards among others.
- Provides a simple and efficient way to manage real estate.
- Help for housing by monitoring the properties of investors which help them profit in both market economy and recession times.
- Get peace of mind knowing that your property is being taken care of by professionals.
- Increase rental opportunities for sellers with high turnover rates.
As a real estate investor, your property management crew is the first line of defense to protect and maintain all that you have worked so hard for. They are also the face of your company - always striving to put on their best faces in order not to hurt any potential deals while maintaining professionalism at all times.
- Protect your investment and be ready for any opportunities
- Professionalism, integrity, and dedication to excellence
- Be confident that all will go well even if you are not there
For investors who don't want to be hands-on with their rental properties, property managers are a handy option. Many institutional real estate investors feel the same way and hire these professionals for managing the day-to-day operations of an investment. Property management can help alleviate multiple issues like toilets that won’t flush or tenants not paying rent on time—all while relieving you from stressful situations!
- Save time and energy by letting property management deal with your investment
- Get more out of your investment
- Get hands-on help with day-to-day issues
- Let professionals take care of the work so you can live the good life
There are a lot of property managers who don't have to go through any sort of education or certification process before they can start managing properties. With that said, it is important for them to be knowledgeable about the local real estate market in order to provide good advice on rent levels and tenant attraction/retention - especially because many people working as property management firms will also live in the building which may give them some incentive! They could either charge you fees related to their services or take an hourly wage if your building generates revenue.
- You'll know up-to-date information about your market and will be able to make smart decisions for your building
- Get qualified help with a property management fee or by paying an hourly wage
Your most valuable asset as a real estate investor is your property management team. They are your best line of defense. You want them to be trustworthy, so make sure you hire the right people! If you’re looking for experienced managers that will work hard on behalf of both parties, call us today.