Why Have Property Managers Handle Your Rental Property?
Posted: May 21, 2018 by Honor Rudd
So you’ve bought an investment property. Congratulations, you’re well on your way to letting your money work for you! But what is the next step? As it turns out, there are A LOT of next steps when it comes to properly (and legally) managing a rental property.
Last week we explored why it’s not a great idea to DIY the listing or buying of a home. Today, Justin Ash, President of Sea Coast Rentals dropped by to chat about why working with a property management company can save you more dollars and headaches than you might realize:
“There is so much that goes into managing a property, a lot of which is behind-the-scenes work that people don’t even realize is happening. Managing a property isn’t as easy as finding a tenant, putting them into the property and then just sitting back and collecting rents. I like to refer to being a property manager as being a ‘crisis mitigation’ manager. If you are not constantly thinking about the scenario of ‘what if this goes wrong,’ you’re not paying enough attention.
"Most landlords have a horror story about a tenant who went haywire and created an enormous amount of stress and/or financial strain for themselves or their property. Even just having to deal with an unreasonable tenant who is demanding that you answer your phone at ten o’clock at night because their dishwasher just made a funny sound becomes exhausting. Our homeowners have full time jobs, families and other things that take up most of their time, so we’re here to handle those issues.
"Not only do you encounter the occasional ‘needy’ tenant, you must also make sure you are up to date with current legal documents and a thorough understanding of what the NC law requires be done so that both parties are protected against any claims. I could give you a long list of things that must be done to keep in compliance with NC law regarding property management, and it seems to change each year. It’s imperative that you keep up with these changes—we stay on top of it so don’t have to.
"People will pay a third party a reasonable fee to handle their finances or manage their personal assets—why should managing your property be any different? Unfortunately, all too often, people don’t realize how much goes into the details until it’s too late, and they now have a tenant who will cost them thousands of dollars because one step was missed. We don’t want to see that happen to anyone. That’s why we love what we do, our job is to make sure everyone and everything is taken care of the right way, the first time around.”
Interested in letting Sea Coast Rentals shoulder the burden for you, so you can sit back and collect the cash? Call 910-202-3673 or visit www.seacoastrentals.com
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