If you plan to build an investment property portfolio, don’t stretch yourself too thin.
Real estate can fit within a comprehensive investment strategy. In addition to buying stocks, mutual funds, index funds, and other financial vehicles, you might add one or more rental properties. Rental income, property appreciation, and the monetization option can be enticing.
But when expanding your rental property portfolio, consider hiring a property manager with experience helping mom-and-pop investors who want to work smarter rather than harder. Make no mistake about it. Investing in rental properties is hard work. You can lose your shirt if you’re not careful. Hiring a property manager can make the road ahead smoother rather than rockier.
What follows are seven reasons you should hire a property manager if you own multiple properties.
When hiring a property manager for your real estate portfolio, you’ll get help with maintenance and repair across various properties. It can be hard enough to stay on top of all the critical upkeep items at a single property. But the stakes are higher if you have multiple real estate assets in Houston or Austin. You don’t want things to fall between the cracks — and the chances of that happening are substantial if you try to do everything independently.
Who wants to be tied to their investment property? If you’re spending as much time at a rental unit as you are at your personal dwelling, what should be a blessing can turn into a curse. Unless you’re the sort of person who likes to do everything independently, getting help is vital. You may already have a full-time job, a family, and a never-ending to-do list. You don’t need to add “landlord duties” to your to-do list, especially if doing so takes up your free time. Hiring a property manager to help with landlord responsibilities can free you up to have a life.
Another reason to hire a property manager if you own multiple real estate assets is that having some help will simplify adding more properties to your portfolio. If you wish to buy undervalued rental properties, renovate them, and rent them out, you can do so more easily when working with a reputable property management firm. The service provider can perform licensed home inspections before you buy new properties. That’ll help you avoid costly instances of buyer’s remorse. So, finding the right service provider can help you grow your real estate empire.
It’s often not a great idea to buy properties in distant cities. If you’re the landlord for multiple properties, things can fall between the cracks. You can’t be at multiple places simultaneously, so it’ll be hard to stay on top of things if you’re crisscrossing around Texas.
But if you hire a company like Green Residential, which helps property owners in Houston and Austin, you won’t have to stress over real estate in multiple cities. We focus on those two cities specifically. So, we can help whether you want property management services in Houston, property management services in Austin, or property management services in both cities. You can’t be in two places at once – we can because of our various crews.
It’s hard enough to offer good customer service to tenants at one property — let alone having to do so at multiple properties spread out in different neighborhoods or cities. Offering a high level of customer isn’t merely a value-added option. It’s a necessity. Great tenants don’t grow on trees. It’s hard to find them. But it’s even harder to replace them.
A reputable property management firm can help you find suitable tenants through pre-screening and screening. But the only way to keep tenants is to treat them properly. They’re unlikely to renew their leases if they believe the grass is greener elsewhere.
It’s ultimately cheaper to keep tenants than to replace them, so prioritizing customer service is in your best interests as a property owner. The right property manager can ensure your tenants are well taken care of and get the help they deserve.
Different real estate markets have different dynamics going on. That’s one reason it pays to hire a property manager with a finger on the pulse of the real estate market. That’s where a property manager comes into the picture. You can count on the expertise of a property manager like Green Residential to understand marketplace dynamics that can impact your investments. You can find out how much rent you should charge or how much you should increase the rent.
Keeping up with upkeep is one of the most essential landlord duties. It’s exponentially more difficult if you must maintain more than one property. When you hire a property manager, the service provider will save you money by buying in bulk and getting discounts. The property manager can then do regular maintenance at your various properties. It’s a more efficient, time-saving, and productive way of taking care of your rental properties.
Whether you own a single rental property or a group of rental properties, we have the services you need. At Green Residential, we specialize in helping property owners manage their rental units and take good care of their tenants. Whether you need help finding tenants, collecting rent, updating your rental units, or doing anything else, get in touch to see how we can help.
You don’t have to look any further for property management in Houston or Austin. For the best property management services in Houston or Auston, get in touch for a confidential consultation. We’re here to help you make the most of your real estate investment goals.
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