Owning investment property is one of the most financially lucrative and secure actions you can take, but once you own it, how do you maximize your income and minimize your stress? A property management company. A real estate agency like Meridian Realty Group can be the perfect property manager for your investment property and properties, and here’s why:
Finding The Right Tenant
An experienced property management company knows all of the red flags, tricks, warnings, and other concerns to be wary of when finding a tenant for your property. By screening your potential tenant while also being mindful of equal rights housing laws and anti-discrimination laws, they maintain a consistency that’s necessary for your legal safety and protection as well. Access to respected credit and background check programs provides further incentive to use a professional.
Knowing Your Legal Rights
Landlord-tenant law is a complicated labyrinth of deadlines, paperwork, proper notice and extremely specific timeframes that all must be followed to the letter. Failure to adhere to what might feel like the most minor rule could give a tenant options that can cost you significant amounts of money, effort, and time. Meridian Realty Group knows how to keep the good tenants, and in the rare case of a tenant who turns out to be a bad apple, knows how to properly end the landlord/tenant relationship.
Maximizing Your Income
The professional property manager can fill a vacancy faster, earning you more rent in less time. With faster turnaround when it comes to cleaning and repairing your home after a lease ends, property management companies can ensure that the new tenant is found quickly and has a pristine home to move into. Additionally, having access to valuation records means that your property manager will know just the right rent to ask - not too much and not too little.
Getting The Right People For The Right Job
A local real estate agency like Meridian Realty Group knows everyone who’s worth knowing. Need to have trees trimmed? We’ve got a guy. Want a professional house cleaner? We know someone. Does a tenant need an emergency plumber on a holiday weekend? One phone call from us and it’s taken care of. With a roster of people in the area who are reasonably priced and do great work, a property management company will figuratively save your life time and time again if things go wrong (which they occasionally do) with your investment home.
Less Work For You
Owning investment property isn’t quite like planting a money tree, but it’s also not supposed to overwhelm you with work. Hiring a professional to take care of the property, keep it occupied, and maintain it will relieve your stress and improve your life. Plus, with all of that free time, you’ll be able to start looking for your next investment property, and guess who can help with that, too?