5 Tips for Owning Your First Stress-Free Rental Property
For those who don’t, owning a rental property can seem like this great asset that’s going to bring you residual income month-in, month-out. However, for those who do own rental properties, you know this isn’t the truth. Rental properties are more in a category of their own when it comes to types of investments. You’re not only dealing with an asset that you purchased for X and expect Y as a return, but instead you’re dealing with an asset closely tied into others lives as their home. We don’t blame you if you’re in it for the money - a rental portfolio is still a great way to build wealth – but never forget that to your tenants your investment is home.
So, you’ve decided you’d like to start building your rental portfolio. The first step is getting that first property. Then what? Our Austin property management team has thrown together these 6 tips for owning your first, stress-free rental property.
Hire a Property Manager
Of course we’re biased; we’re a property management company after all. There is no denying the return on investment a great property manager can bring to an owner. Effectively putting your i...
