If you own a home and no longer live in it, you might consider renting the property to a family for extra income and to keep the space livable. However, becoming a landlord can be a large undertaking, full of headaches, especially when you are just trying to make some extra income on a house you don’t want to sell. Often times, retired homeowners will purchase properties in an effort to stay busy in retirement, but they don’t realize the litany of phone calls with maintenance requests, tenants crying about rent being late, or how terrible it would be to wake up in the middle of the night to hear about a burst pipe or sewage issue. A property management company allows for you to be the owner so all you have to do is approve spending and watch the rent money roll in.
Here are some other ways a property management company can help you rent your home:
- Hire quality tenants
- More thorough background checks
- Fewer legal problems
- Handles all maintenance requests
- Manages rent collection
- Manages deposit collections
- Can perform debt collection
- Ensures shorter vacancy cycles
- Recommend and manage property improvement strategies
- Determine market rent and value
- Marketing the property
- Assist in tax preparation
- Handles eviction notices and lease termination
A property management company’s goal is to help you have the most earning potential from your property. By hiring a property management company, homeowners can rest assured that their rental income is secure and that their property is being managed efficiently while they are away. Time is money and property managers can ensure that you are living your best life while still making a profit and being able to spend more quality time with loved ones and friends. Contact Scott Properties to see how they can make your dream of becoming a landlord easy.