The current real estate market in Raleigh is a bit volatile - but that doesn't mean you shouldn't invest. With predictions of new inventory coming in 2024 and stable interest rates, now may be the perfect time to buy a rental property.
If you're new to property management, you may be wondering how a property management company can help you. Here are some reasons why working with a property management company is a fantastic landlord rescue option if you're feeling overwhelmed.
Find Tenants Quickly
Tenant screening can be a painful process if you're inexperienced. Along with having to put many people through the process, you have to determine which factors make a good tenant.
Luckily, property management companies can handle the tenant screening for you. They will do the legwork to check if potential tenants have financial issues or a criminal background.
Outsource Your Maintenance
Day-to-day maintenance issues can be a huge pain, especially if you own multiple properties. Keeping track of maintenance requests, coordinating contractors, and contacting tenants can add up to a lot of time wasted.
A property management company can take care of all of that, and more. They also have contacts within the maintenance industry to help schedule the services you need quickly.
Outsourcing maintenance is especially helpful if you don't live close to the property or you travel frequently. Your property management company will handle every step of the maintenance repair process.
Less Worry About Legal Issues
Legal issues are thorny for anyone, but they can get more complicated when you are a landlord. Every city and state has different housing codes and rules you must follow as a landlord.
For instance, you may not know if you can deny tenants based on if they have pets. A property management company can take care of the research and implementation of policies for you. They will also stay abreast of any updates in fair housing laws or housing codes.
Evaluate Your Finances
When you want to calculate return on investment, or ROI, on your rental property, a property management company can help. You need to ensure the property brings in enough money to cover your monthly expenses to break even.
If you own multiple properties, it is even more important to know where you are financially. You need to have liquid assets available to use in case you need to do a large repair or move quickly on a new property.
Property Managers: The Best Landlord Rescue Aid
If you want any of the benefits listed above, hiring a property manager for landlord rescue might be the best solution for you. You will not have to spend the time, money, and footwork to do it yourself.
Are you looking to start investing in property in the Raleigh, NC area? PMI North Triangle is the perfect fit for all of your property management needs.
We combine expertise, market knowledge, and client service to give you an unparalleled experience. Talk to us today to see what we can do for you.
