If you own property purely for its ability to generate a profit, you should by no means think that you have to be physically tied to it. In fact, the headache of acting as an active landlord can be so overwhelming something that it really calls into question whether or not owning the property is actually worth it. That’s why so many landlords choose to pay a property management company to take care of the gritty details while you keep raking in profit.
A full 35% of the U.S. rents its home, which is how you keep in business. Deal with people who know what they’re doing when it comes to renting and keep your extra income with little to no effort.
Check out this list of three things you won’t have to worry about anymore with proper real estate management:
Rent
Collecting rent from tenants can be one of the biggest headaches for landlords. Avoid this conundrum entirely by managing your property from afar — your property manager will not only know your tenants personally, but be able to respond to their demands and track them down when they are late with their payments.
Filling Vacancies
Another headache unique to landlords: filling constant vacancies. Indeed, the rental vacancy rate in 2013 was 6.49%, according to Census ACS data. Constantly looking for qualified tenants can take a lot of time and effort: leave that up to the experts and make a real investment by distributing the work of managing a property.
There are more than 109 million renters in the U.S., and only about 22 million landlords. The disproportionate amount of landlords makes it very clear how hard a job it can be to manage residential real estate, both personally and financially.
Many building owners choose to live away from the buildings they own — and why shouldn’t they? If you fall into this category and want to keep renting your property, and want to reap the rewards of owning property without the headaches, check out property management teams for your commercial real estate investment
