Do you have a rental property, or are you thinking of renting out your home but are worried that you won't always be in the area to deal with tenant problems or bad tenants? If so, you'll want to establish a relationship with a property-management company in the area that can keep an eye on things when you are away and that can help you with finding great tenants.
The property-management team can make being a landlord less complicated and can help you run your property more efficiently. You want to have the following professionals on speed dial.
Backup Management Company
You want to have a management company that is familiar with your properties and that can help you manage problems if you are unable to deal with the issues on your own. This company can be used for:
- 24-hour tenant service calls
- Tenant screenings and rent collection
- Property cleanup before and after tenants
The management team can help you handle issues while you are in the area and can take control of bad situations when you can't be present.
Every property owner should have an experienced lawyer they can call when they have a problem with their property or their tenants. You'll want to have a real-estate lawyer that can come to your aid when you are there or away and to deal with late payments, evictions, and other liability woes.
Service Repair Experts
If the HVAC system has a problem while you're gone, the pipes burst, or there is another concern with the property that you lease, you'll want to have relationships with service repair professionals you can trust. Ideally, these service providers will get your rental property repaired quickly and at a fair price, and you will always be a priority to them. You can set up an account and relationship with these companies so all of your information is always saved if needed in case of emergency.
If managing your rental property is becoming more and more difficult over time, or if you just aren't always in the area to deal with all of the tenants' needs and requests, it's time to look into getting some help from rental professionals. Hiring a management company is worth the money you will pay because the company is going to handle any situation that could be a huge headache if you aren't there to deal with it yourself.