Being a landlord is one of the toughest occupations in the world. Renting can be the biggest hassle of your life. Many owners of rental properties want to handle the job of landlord. It is much cheaper in terms of dollars of expense. Soon a real estate manager will have to take on the job of landlord or hire a property manager.
A landlord can spend 40 hours a week running all over the city handling blocked toilets, fixing A/Cs, and solving maintenance problems. Then there is finding tenants, vetting them, and kicking out tenants who don’t pay. Once in a blue moon, you might get a vacation.
In any society, there are good people, bad people, and indifferent people. In the renting world, you shake your head at how some tenants punch holes in the wall, snuff cigarettes on the countertop and allow their cute little puppies to eat the carpeting and furniture. Then some landlords are unreasonable, unapproachable and are interested only in the timely payment of rent. For this reason, rules and regulations abound, and the law protects both landlord and tenant.
The recent article in Inman cites five main things special to a property manager:
The average property manager charges somewhere between 50 and 100% of the first month’s rent as a finder’s fee and then 8 to 10% of the monthly rent. A renewal of an existing tenant would not generate a finder’s fee. If you are fighting for income, a property manager can feel like a large stone around your neck.
But, a great property manager enables you to stay on the right side of the law.
As investors, we are in business to make a modest profit on any deal. However, we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. We offer the simple truth about your home and how we can help you sell it fast to resolve any situation.
If you’d like to give us a ring, we would be more than happy to spend some time with you to help you understand the process and to get all of your questions answered. You can reach us at 402 999.0577.