There’s some good news if you have rental properties or are planning to rent out a home that you own. The rental market continues to grow. In fact, rental prices in the Charlotte metropolitan area are are expected to increase by 2.4% in 2016.
There are many reasons people decide to rent out a home rather than sell. Some can’t find a mortgage-qualified buyer. Others may be waiting for housing market prices to rise before selling. Whatever the reason, before you rent your home, there are a few things you should know about being a landlord
You may have heard the horror stories… calls at 2 am, plumbing leaks, renters who pay late or damage your property. They are all true.
A rental property can be a steady source of income, but it brings with it all of the concerns of ownership. Pipes break, drains clog, doorknobs come off, heating and air conditioning systems wear out. If you are the landlord, you are responsible for having them repaired.
Then there are the renters. Some pay late, or not at all. A few may even destroy your property. You may be forced to evict.
This is the reality of property management.
Solution – Property Management Services
Frequently, homeowners who rent out their property feel unqualified to handle the myriad issues involved in property management. Sometimes they pay a price for their inexperience.
There is a solution to this dilemma. Professional property management services have the expertise and resources to eliminate the worry from owning a rental property.
To the novice landlord locating and retaining good tenants can seem like trying to solve a puzzle without all of the pieces. It can be a complete mystery.
The truth is, there are many great tenants out there who pay their rent on time and respect your property. You just have to know where to find them.
Professional property management services know where to look, and have the resources and skill to select and retain the best tenants. They will also:
If you own a rental property or are considering renting out a home, a professional property manager can help you enjoy the benefits while eliminating the hassle, worry, and mistakes.