As a proprietor of multiple properties that you either own and use for yourself, or rent out to tenants, you are probably beginning to see why so many landlords/landladies get out of the rental business faster than they get into it. The biggest issue most encounter is with the property management and responsibilities associated with multiple property upkeep. If this sounds like your current situation, do not throw in the towel. There is a way to juggle all of these property responsibilities with ease.
Find Real Estate Agents and Agencies That Offer Property Management Services
There are real estate agencies that offer a select set of services to help homeowners and multiple property owners maintain and manage their properties. These services are not widely advertised, so you may have to do some digging around. After you have found a few real estate agencies that do offer these services, be sure to compare notes on the services each provides, and what the estimated costs for these services are. If services are bundled (e.g., winter-only services, summer-only services, "snowbird" services, etc.), consider which set of services will benefit you most and benefit the properties you own.
Decide What You Can and Cannot Manage
If you think that shoveling and snow-blowing are manageable, but landscaping tasks such as mowing, pruning, and trimming are too much, hire the agency/agent that offers warm weather services. They will do all of those warm weather maintenance tasks you do not have enough time to do. (Truth be told, most homeowners can only manage these tasks on the weekends, and having to manage these tasks for multiple properties is nearly impossible unless you hire help.) If your tenants are responsible for the outdoor property maintenance tasks as part of their lease/rental agreements, then the real estate agents/agency can manage other property tasks (e.g. showing the apartments or rental houses when you are out of town, promoting the spaces for rent on real estate websites, etc.).
Collect Rent and Relax
If you go door to door every month collecting rent, you may find it easier to hire an agency/agent to do this for you. This particular property management service makes sure that all of your tenants pay, and that rent is collected in a timely fashion. If there are problems with certain tenants, your agent/agency can help you begin the eviction process as well. Otherwise, you sit back, collect the rent, and relax.Share
24 October 2019
About a year ago, I realized that there were some serious issues with our home. I could tell that we needed to do something to upgrade our residence, so we started looking for a different property. I was able to find a really nice real estate agent who could help, and they worked hard to pair us with the perfect home for our budget and lifestyle. Now I can honestly say that I love my home, and I couldn't have chosen a better one on my own. Check out this blog for great information on improving real estate holdings and finding a better home.