If you’re like most landlords, you’re probably not generating the full amount of income from your rentals due to the COVID-19 pandemic. Taking on more expenses at this time might seem like the wrong move, but here’s why you should consider hiring a property management company in San Antonio during this challenging era.
1. A property management company is experienced
Most property management companies have seen everything you can imagine. They’ve likely handled evictions, angry tenants, destructive renters, neighbor disputes, dangerous animals, illegal pets, hoarders, and more. They know how to handle chaos and disagreeable clients
During the pandemic, you probably haven’t been fully focused on taking care of your tenants. It’s not intentional, but the general stress has made it difficult to take care of business.
You’ve got your own life to worry about. That’s understandable. By hiring a property management company, you’ll ensure your tenants get taken care of even when you don’t feel like answering their calls or getting out of bed to schedule another repair.
Handing off your landlord duties to an experienced property management team will take loads of stress off your shoulders without having an adverse impact on your tenants.
2. Property management companies know how to handle evictions
Evictions are coming. It’s only a matter of time. Although the CDC extended the national eviction moratorium through June 30, it’s unclear whether there might be yet another beyond that. When the time comes and you need to evict someone, it’s going to require a lot of energy and patience.
Evictions are lawsuits; if you’ve never had to file one, you’re lucky. The process is extremely complex, and if you make a mistake, you could lose your case and your tenant could win the right to remain in the unit.
Hiring a property management company will take that challenge off your plate. You won’t have to worry about having to handle an eviction.
The managers will file all the paperwork on your behalf. You might still be required to appear in court, but it will be a comparatively stress-free event.
You don’t need the extra pressure that comes with informing tenants of their impending eviction, or to field their anger and even potential retaliation. Enjoy a calm state of mind by outsourcing your landlord duties to professionals.
3. The ROI is worth more than money
ROI can be measured in more than just money. The ROI for hiring a property management firm can be exponential. Here’s how you’ll benefit:
- Your properties will be run by professionals who handle tenant issues according to state and local laws. This will protect you from being held responsible in a lawsuit that’s preventable, such as for discrimination. A tenant can still take you to court, but when their claims don’t have any merit, you’ll walk away without paying any fines.
- You’ll have plenty of free time to pursue additional investments. Time is money, and when you have more time you can generate further income. How much time do you spend answering phone calls from tenants? Returning voicemails? Scheduling repairs? Performing inspections? Marketing? Showing units? All that will disappear.
The amount of responsibilities landlords have to take on is immense and time-consuming. If your goal is to acquire a large portfolio of investments, it’s a smart move to hire a property management company.
- Your properties will be kept in good shape. Property management firms will respond to tenant requests for repairs and maintenance without delay. They’ll ensure the required tasks are performed only by top licensed contractors.
It’s important to keep your properties in excellent shape and address even the small requests, like missing door knobs or closet doors that slide off track. Small problems often get bigger with time.
Today, a closet door is off the track. Next week, the door and the track might be bent out of shape from the tenant’s attempt to shove it back together.
You’ll probably get a discount on repairs since most property management companies arrange special deals with local businesses based on their volume of work.
Peace of mind is the greatest return you’ll see from hiring a property management company. You may not realize how much being a landlord affects your personal life. When you don’t have to assume the day-to-day tasks, your friends and family may notice your improved mood.
4. The pandemic is uncharted territory
Nobody alive today has experienced a pandemic. There have been several housing crashes and stock market collapses, but nothing like we’ve seen over the past year. Retaining a property management company to navigate those waters for you is invaluable.
Your team may not know exactly what to do but they’ll have enough experience to know how to figure it out.
5. A property management company can help you sell your home if you wish
If you try to maintain your rentals and just can’t make it work, a property management company can help you sell the home. This would be a last resort, since you wouldn’t want to give up your investments unless absolutely necessary. But if you decide it’s time to sell, you’ll have help.
Are you struggling to manage your properties? We can help!
No matter what you’re struggling with during the COVID-19 pandemic, we can help you get your properties back on track. At Green Residential, our team has decades of experience helping investors generate profitable investments that are truly hands off.
If you don’t want to deal with the stress of answering emergency calls at 3 a.m. on a Saturday or responding to angry tenants, we can help. If your tenants haven’t been paying rent because of the pandemic, we can handle those difficult yet necessary negotiations.
If your landlord duties are stressing you out and having a bad impact on your personal life, you don’t have to continue managing everything. We can take over all the responsibilities that are causing you stress, and you can go back to managing your own life, worry-free.
Contact us today for a free property analysis and let us know how we can help!