We’ve all heard the horror stories about tenants who disappear in the middle of the night – with all of the appliances and even the copper piping in the walls, but a landlord faces far more risks when they allow a tenant into their property. From pure cash to the risk of a costly lawsuit and even the loss of your free time, here are some of the most common risks faced by a landlord today.
Your property management company will play a big role in how much time you spend on the day-to-day operations of your real estate investments. Ideally, you’ll hand all of the stressful parts over to the manager, and simply hang around to collect the rent and manage the big picture. The wrong management company will impact everything from the annual cost of maintaining your properties to your occupancy rates and the number of times you have to turn each property over each year. How can you tell if a Utah property management team is not a good one? These red flags can clue you in:
You should be managing your Real Estate portfolio; it should not be managing you. Yet many property owners work themselves to the bone managing their property—when they could be using that time pursuing other endeavors. Discover how much your Real Estate portfolio is stressing you out and what you can do about it.
Renters are on the rise – according to the National Property Investors Institute, the majority of residents over the next decade will be renters, not homeowners. If you have rental properties, you are already uniquely positioned to take advantage of the rising number of rental opportunities – provided you do things the right way. Managed correctly, a rental property can be a regular source of income for you and your family – but in the wrong hands or with the wrong tenant, that same property can be a source of constant stress and hassle and cost you thousands in unnecessary repairs and maintenance costs each year.
We know it’s only April, but that also means school is almost out. We found a great website to help all you parents out there on how to prepare your kids for school over summer. Click this linkto find out how. -RESE Property Management