San Antonio remains one of the best places to live in the United States. The weather is great, the neighborhoods are diverse and interesting, there are plenty of job opportunities, and best of all – the prices are still affordable.
If you live in Texas already, you might consider moving to San Antonio or managing property there. But what if you live hours away from the city?
You might be surprised to learn that it’s not only possible, but relatively easy to invest in San Antonio real estate without living there.
The simple answer is that you’ll need to hire a property management company. Property management companies exist to take the hassle out of buying and managing rental properties. They’ll help you with every step of the process, from finding properties to add to your portfolio to dealing with tenant screening, rent collection, and repairs. It’s the only way you can manage a property completely hands-free – which means, you can manage a San Antonio property without actually needing to live there.
Obviously, the property management company collects a fee for their work. Generally, this is a fixed percentage of the gross rent you collect from the property – and low enough to allow you to remain profitable. Additional expenses, like if your property needs a major repair, will be deducted from tenant rent before it’s forwarded to you.
And of course, at any time, you can break your property management agreement or sell the property.
So what are the ways a property management company can help you manage property in San Antonio?
Of course, there are risks to managing property in another city. When buying property, you may not be able to see it in person – meaning you’ll be trusting photos, videos, and other people’s judgments when making these major financial transactions. If you’re working with a good property management company, you’ll have nothing to be especially concerned about. But some property investors still like to get their own eyes and hands-on real estate before taking the plunge.
If you’re the type who likes to make their own repairs and conduct their own maintenance, managing a property in another city may not be for you; you’ll have to (nearly) completely trust the company you’re working with to do what’s necessary.
So is it worth using a property management company to invest in San Antonio real estate?
For starters, the management fee is low enough that it’s a non-issue. Your profitability won’t be significantly impacted, and you’ll have a qualified representative taking care of just about everything associated with the property. This is a truly hands-free arrangement, and one that typically makes a lot of financial sense.
If you like the San Antonio area and you have no intentions of physically moving there, working with a property management company is practically your only option. Otherwise, you’ll either need to focus on investment properties in your city or consider moving to San Antonio to be closer to the properties you want to buy.
Are you interested in investing in property in the San Antonio area? Or are you already a real estate investor in need of property management services? Green Residential can help. Contact us today to learn more!