The average real estate investor can make between $70,000 and $124,000. Of course, that's if you're doing the job right. Rent collection, maintenance, and marketing can be difficult and time-consuming.
It's easy to end up stretched thin, especially if you own more than one property. Sometimes, even the best investors need a landlord rescue.
There are many rental management tips, but here's the most important -- understand when you need help. Below are five telltale signs your Livermore, CA property needs landlord rescue. Keep reading to learn more.
1. You Live Far From Your Property
It's unavoidable -- you're going to have issues with your property. Certain problems are easier to deal with in person, but what do you do if you live far from the property?
You can visit to solve the issue, but that could become tedious and hard to manage after a while. You can hire local property management services near your company, they can handle whatever issues arise faster than you.
2. You Own Multiple Properties
Every potential issue you have at one property is multiplied by each location. You may have a harder time keeping up with maintenance and client requests.
A landlord support system can help you stay on top of things. Local companies can scale their services to suit each property's needs.
3. You Have Long Vacancy Periods
A landlord needs tenants to make income, but how do you determine what's causing your multiple vacancies? Is your rent high, or are you having marketing issues?
It could be that your landscaping needs work. The front yard is the first impression possible tenants get of your property.
Management companies can help with rental property solutions to reduce your vacancies. They can help improve marketing strategies, revitalize your property, and help set rental prices.
4. Your Property Shows Signs of Neglect
We've mentioned maintenance plenty throughout this article, but it's crucial to help your income. Upkeep reduces vacancies, but maintenance keeps your investment property in good condition.
It's one of the best tenant management strategies you can use. People won't want to stay somewhere where everything is damaged and maintenance helps you keep up with safety standards.
Property managers can do inspections and hire contractors for repairs. The longer you leave things, the worse the disrepair will get.
5. You Have Little Free Time
You might have tackled too much with your investment property if you have little time for personal interests. Property management can be time-consuming and you may not have time for all the associated duties.
Tasks like accounting and tenant screening need time to be done well. A property manager will have the training and dedication to do the work while you concentrate on what's important to you.
Who'll Help You With Landlord Rescue?
An investment property can net plenty of income, but it's a big project. Sometimes investors need help -- PMI Almeda County can help.
We're a full-service real estate management company with over 20 years of industry experience. Our team handles marketing, maintenance, and tenant screening -- everything to aid with landlord rescue.
Contact us so we can put your property in a better place. Together we can grow your investment.
