Property Management Services: Do You Need One?

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

The Reality

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:

• Market your property.
• Receive and deposit payments.
• Provide financial statements and tax reporting documents
• Prepare rental agreements.
• Inspect the property
• Handle maintenance issues.
• Process evictions

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.

We’re Buying Rental Houses

Is it time to buy or sell?  Our vacancy list (and every other local property manager’s) is as short as it’s been in more than 15 years because of very strong in-migration.  Our MSA’s population of 2.5MM is forecast to exceed 3.0MM by 2030 or in just 14 years.  We still receive a record 8.5 rental applications every day because no one is building rental houses.  Buy or Sell?  We’re buying rental houses!   May we help you?

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For Landlord and Tenants, How Property Management Benefits Both

If you’re thinking about rental property, you probably have a lot on your mind. Whether you want to rent out a house you own or find a house to rent for you or your family, you may be concerned about the value of the home, potential damages to the property and the quality of the neighborhood.

A mutually beneficial relationship

Because rentals are used for shorter amounts of time than other real estate, renting comes with inherent risks — for both the landlord and the tenant. Using professional property management can help you manage these concerns and arrive at a rental relationship that benefits both sides.
When you decide to lease your home, you want to make sure you’re getting your money’s worth. If you’re renting a home, this is just as important, if not more. A professional property management company can help you decide what to charge for the home, and they can help you anticipate the costs of utilities and other items.

Get a fair value

Will the rent include water, electricity or heating and cooling? Are there systems that will need routine maintenance, like a water heater or fireplace? Property professionals will help you decide all this and more.
For tenants, the services provided under the lease agreement will affect the monthly payments. If it’s unclear what’s provided in the lease, you could end up in a tense struggle with your landlord, until a decision is made about where the responsibility falls. Avoid this problem with professional property management.

Plan for the long term

If you’ve decided to become a landlord as a way to provide long-term income, you’ll need to stay on top of your rental property throughout the year. Renters come and go, and using a rental property management company can help you ease the transition. The company may find and recruit tenants, handle contracts and establish important guidelines to make it a good experience for you both.
As a renter, you don’t want to worry about your move-in date or go through a long, agonizing process when you move out. When you rent from professional property management companies, you can get all the convenience of renting without the disadvantages of landlord who is hard to reach.

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These are just a few of the many benefits of professional property management. Whatever your needs, these companies may be the key to a positive experience with rental property.