Real estate is one of the best investment vehicles you can find for a number of reasons. So why doesn’t everyone have a rental property or two?
The answer: Because day-to-day management of a rental property can be a headache for owners.
Think about what it takes to maintain a single-family home. Someone needs to look after the yard and landscaping. Someone needs to call service providers when the plumbing or HVAC or any number of other systems need repair. And someone needs to schedule the regular maintenance tasks needed to keep a house operating at its peak potential.
And that’s not even mentioning marketing, leasing, evictions and the many other duties required when you own an investment property.
Many new owners find themselves asking: Should I hire a property manager? If you’re new to the rental property world, or even if you’re a veteran of real estate investment, here are 5 reasons why hiring a property manager is one of the best decisions you can ever make.
Finding the Right Tenants
Many single-family owners think filling their properties with tenants is the No. 1 objective in real estate investment. That’s almost correct. The No. 1 priority is actually filling properties with the right tenants.
When you choose a quality DFW property management company, you get support in casting a wide net that attracts interested prospects and competition for your units. You also get a thorough and comprehensive screening process that weeds out problem tenants before they sign the lease.
Maintenance and Repairs
Something will go wrong at your investment property eventually. A toilet will backup and overflow, an air conditioning unit will quit working in the dead of summer, an appliance will give out and need replacement.
Dealing with calls from your tenants — sometimes in the middle of the night — is stress-inducing and can lead any landlord to reconsider his or her investment in real estate. So why not hire a property manager to take those middle-of-the-night calls and other requests for service?
Find a good provider of DFW property management, and you can also count on regular maintenance tasks being taken care of. You get to sit back and enjoy your cash flow and return on investment while someone else worries about the day-to-day maintenance and repairs that make most people think twice before investing in real estate.
Rent Collection and Evictions
There’s nothing more frustrating than waiting days on end for your tenant to slip a check under the door or into the mail. In a perfect world, rent checks would land directly in your bank account on the first of the month — and that’s exactly the situation that a quality provider of DFW property management can create.
Good property management companies have in place systems that allow online and automatic payments. Not only is this easier for your tenants to manage in a society where checks are rarely written anymore, it’s also easier for you as a landlord to manage.
Compliance With Laws and Regulations
When you jump into the real estate investment world, you’re jumping into an industry that’s often regulated at 3 different levels — local, state and federal.
You can spend hours upon hours getting up to speed on these regulations and laws. Or, you can hire a property manager that knows the rules inside and out and that can protect you from liability related to falling out of compliance.
Strategic Market Knowledge
Even if you own several investment properties, you’re seeing just a small sliver of the greater market. Here in the Dallas-Fort Worth area, there are thousands of single-family homes for rent at any given time, and the market is constantly shifting. You can try to keep tabs on these shifts, but the reality is that you’re only ever entering the market a few times a year when you need to rent a vacant home.
Choosing to hire a qualified, experienced provider of property management in Dallas and Fort Worth means that you immediately get real-time knowledge of what’s working and what’s not — everything from marketing strategies and tactics to optimized rental rates.
Get the Best Provider of Property Management in Dallas and Fort Worth
There’s a lot to like about the returns you enjoy with real estate investment. You can outpace the stock market in most cases, and you face a lot less volatility than the stock market, too.
At HUNTAHOME, we are your best source for property management in Dallas, Fort Worth and surrounding communities in the DFW area. We make sure you get the returns you want on your investment — without getting caught up in the stresses of day-to-day management.
Are you searching for quality DFW property management? Get in touch to learn more about how HUNTAHOME can maximize your real estate investment.