Most people who buy investment properties understand there are many benefits to owning one or more of them. Owning additional properties outside of your personal residence can diversify your portfolio, create a solid return on investment (ROI), and create a steady stream of passive income. However, once you have your first property, reality sets in. You have to deal with a number of tenant issues, and it’s often at the worst possible time. Problems can pop up that you weren’t aware of, and things can get costly if you need to hire a lawyer. The reality is this: no tenant will take care of your property like they own the place, because they don’t.
If you are thinking about purchasing a rental property or already own several, it may be time to think about how a real property management company can help to ease the burden of property management – all while keeping your books flowing in the black. Here are some of the top reasons real property management can benefit your investment:
Eye on the Market
Working full time in the property management business means having an eye on the market. The Denver-based company, Stars & Stripes Homes, will do just that. Stars & Stripes Homes will be able to tell you what your home should be renting for depending on location of the property, square footage, and amenities offered. It’s a white-hot market in Denver right now, and you should be getting top dollar for your rental!
Large Range of Clients
An established real property management company is already working with people who are looking for homes to rent. This means your home can be rented out fast, thus keeping that money flowing in. There’s no need for you to worry about advertising because it’s executed for you.
Close to Your Investment
Hiring someone in Denver means your property will be looked after. Whether you’re out of town for the week or decide to move across the country, you won’t need to worry about looking after your investment. Whether your rental property is 15 minutes or 1,500 miles away, you want someone close to your property keeping an eye on things.
No Bleary-eyed Phone Calls
When you have an investment property, you have responsibilities. Most tenants expect to have issues taken care of promptly, whether it’s a broken garbage disposal or a leaking hot water heater. Hiring a professional company to field these calls for you takes the stress out of being a landlord.
No More Accounting Headaches
Not everyone was born with an accounting gene, and for those who hate doing the books, a property management company will do that as well. Your property management company will take care of deposits, make sure your tenants are paying on time, and keep records for tax purposes. This is huge.
As unfortunate as it is, we live in a litigious society; people sue at the drop of a hat. Many landlord headaches can be avoided with proper background checks, solid leases that protect the homeowner, and knowing the laws where your rental property is located. A real property management company will minimize your exposure, which will protect your assets.
Free to Leave
There’s nothing worse than being tied down when you want to leave. Whether you’re looking to go on a quick trip or take a much-deserved month long vacation, there’s no need to keep a plumber or handyman on speed dial. You can rest assured everything will be taken care of for you.
We invite you to contact one of the professionals at Stars & Stripes Homes, Inc. to find out how we can help get your property leased, protect your assets, and give you peace of mind – all while increasing the money you’re making on your investment.