Did you know that 14% of American tenants don't pay rent on time? If you're a landlord dealing with issues like this, you'll know how time-consuming and stressful it can be. You might wish you were a hands-free landlord.
There are so many benefits to being a landlord. But landlords can manage their time better by working with a reliable property management company to take care of their properties.
IF you're looking for more information on how to become a hands-free landlord, you've come to the right place. We've got all the information you need to know for a more hands-off management style in Folsom.
Work With a Quality Property Management Company
The best way for landlords to take a hands-off approach is to engage the services of a specialist company to handle their landlord's property management.
A good property management company will be able to take care of your property for you. This includes maintenance, finding and screening tenants, collecting rent, and everything else which goes into managing a property. For best results, be sure to look for a business offering full-service property management, meaning they'll be able to take care of every step of the process for you.
The cost of working with a property management company may not be as much as you think! You'll likely pay only a small percentage of your rent for the cost of management. This normally works out as a big profit for you, as you can invest your free time in other business concerns.
Talk to Your Tenants
If you're transitioning into a hands-off style as a landlord, be sure to let your tenants know. It's important for them that they understand who to contact in the event of a problem.
Be as honest and open as possible with all your tenants.
Engaging the services of a rental property management company? Have a talk with your existing tenants about how things will change. This will give your tenants a better experience in your property and also help you avoid the need to take unwanted calls from your tenants.
The Benefits to Landlords
Taking a hands-off approach is extremely beneficial to landlords. Done right, it can allow property owners to reap the rewards from their rentals without having to put in much work.
Engaging the services of a property management company can actually make landlords more money in the long run. When a landlord's work schedule isn't bogged down with petty concerns, like making small repairs or chasing up rent arrears, it allows landlords to make more efficient use of their time.
Get Quality Property Management Today
There are so many benefits to becoming a hands-free landlord. Folsom landlords can spend their time more productively when they go hands-free, as well as removing much of the stress that comes with managing their own properties.
Want to learn more about how a property management service can help you? Contact Residential Equity Management to find out how we can help you become a hands-off landlord.