Investing in Real Estate and Maintaining Your Property/Rental. The Solution is Property Management!
Investing your money in rental property can have you earning a steady stream of income for life If done properly. However, do not expect the costs of such an investment to end at closing! When becoming a landlord there are two certainties – costs and death. Most real estate investments require prompt maintenance and remodeling to be suited for code and actually livable for a rent paying tenant.
Let’s say you now own a property ready to be rented and now the process of finding a tenant comes into play. Don’t forget this is only the first step to your income producing investment, and then comes the actual process of being a landlord. Some prefer to be hands on with their properties and deal with the constant headaches owning a rental property can cause and the time you must invest in it – time you may not have to spare. This is where professional property management services come in to play.
What Do Property Management Services Provide To You?
The value a property management service can add to your investment can be great and many experienced real estate professionals can tell you that a great property management service is worth it.
Finding Higher Quality Tenants For Your Property
Finding a tenant can be hard and expensive. If you go it alone you’ll be competing for tenants with communities and property managers that have the resources and funds to out-market your listing. Hiring a property management company can make this process stress free! Any competent service has a marketing plan in place to get you a qualified tenant fast and even offer a guarantee. They’ll provide the screening and analyze application data to provide you with the best tenant suited for your property!
Problems & Complaints
As mentioned earlier, the two guarantees in a landlord’s life are maintenance and death. What if there was a way for all the petty things to be put on someone else’s shoulders and only involve you in the things that truly matter? Oh right, there is! A property management service takes the burden of the landlord off your shoulders and mind and makes it their own. It only takes one trouble tenant to cause a slew of financial and even legal headaches. A great property management company is knowledgeable of the current landlord-tenant of Texas. Avoiding just one law suit can completely cover the costs of a property management service!
Retaining Great Tenants
An exceptional property management service doesn’t just aim to please their client, the landlord, but instead focuses on both sides of the coin. Some may be good at finding great tenants through marketing, but keeping these tenants through great customer service is just as important. For example, here at Stone Oak Property Management we offer a 24/7 crisis line to our landlord’s tenants, an online portal for rent to be paid and maintenance requests to be submitted. Retaining these quality, rent paying tenants is the key to keeping your income up and we here at Stone Oak are dedicated to you and your bottomline!
Maintenance & Repairs
Property management companies should always have a network of vendors and contractors either on payroll or as business partners leaving you satisfied with the knowledge that your property is consistently maintained by trusted and insured sources.
All of these and so much more can make up a great property management service! Property management not only helps protect and maintain your investment, it provides you less stressful investment, as they serve as your personal investment assistant, and more free time to spend relaxing or focusing on other areas of investment you may be in. Head over to our contact page to learn more about what Stone Oak can provide you as a landlord or give us a call at 512.617.6766!