Whether you’ve chosen to invest in real estate for profit or you’ve become an unintentional landlord, using a professional property management company can help you maximize your ROI and minimize your hassle. You do have to choose the best property management team for the job, though, to truly get all of the benefits associated with using a professional manager.
The number of housing units occupied by renters in the United States has been steadily increasing since 1975, but there has been a sharp upturn in the past few years. In 2015, there were 43.58 million renters occupied housing units; this is up from 38.02 million in 2010. As housing demand rises, more rental properties are becoming available which means more investment opportunities.
The question is, how do you know what is a healthy property that gives you a good return, and what is a toxic one that will rob you of all profits? Toxic property management is a soul-sucking, profit-draining venture, but there are ways to spot a toxic property before you get sucked in. Look for these four symptoms of a toxic property investment: