If you are contemplating renting your property and have talked with a few people who have rented out their house you have probably heard a few nightmare stories. I have listed below some of the top 5 reasons people usually give for seeking property management services instead of going through all the headache.
1. Dealing with Tenants
If you have ever been a landlord you have heard all the stories and excuses to last a lifetime. Here are a few examples
“I mailed the check last week!”
“I don’t have a dog – that was my nephew in the window”
“I called twice this week and no one answered, so I just let the roof leak go.”
“I don’t care that is Saturday at 2am I don’t have any hot water and need it fixed right now.”
We could probably leave this list with just this one item since it is one of the biggest headaches.
2.Dealing with Contractors
Trying to find reputable contractors that don’t charge crazy fees is almost impossible especially when you need something repaired quickly. However, even more than just the money, it is the dependability.
3. Being on Call 24/7
If you don’t mind getting calls all hours of the night or when you and your family are on vacation this may not bother you but most of us already work a full time job and have family obligations that we really don’t need a part time job that many times feels full time.
4. Chasing Rent
If you enjoy being a professional debt collector or hearing all the excuses this may not be on your list but it is a necessary part of being the landlord. Many times the excuses will be very persuasive and sad which makes you feel terrible but your mortgage still needs to be paid.
5. Find Tenants and Screening Tenants
Finding good “qualified” tenants is probably the most important first step in the process of collecting rent on your property. It requires precision and time to ensure all of the necessary steps are taken and researched. The margin for error in this step is HUGE. One mistake of placing a bad tenant in your property can potentially led to financial ruin.
If this does not sound like a job you want to take on please call the experts at Ritan Property Group!