Investing in rental properties is a great way of generating income while securing your future with a real estate investment. There are two primary ways of handling a rental property; you can manage it yourself, or you can get a property manager to handle it for you. There are San Antonio property management companies who would be thrilled to discuss your investment with you, and there are many benefits to having your property professionally managed.
Landlording on your own isn’t easy; it can be a full-time job with a plethora of duties. You need to invest time in understanding by-laws and building codes, as well as the energy to arrange for maintenance at four in the morning when a pipe bursts. Investments are for the future, so if you have a rental property it’s not unlikely you already have a full-time job; property managers will handle calls from tenants so you don’t have to. They’ll also find new tenants for your building, screen applicants, collect rent and be the point of contact for maintenance and groundskeeping staff; that frees up a lot of time for you to do what you love.
Hiring a property manager will cost money, of course, but it can be well worth it for the money you save. Property managers have connections, which means they can often get discounts on maintenance, groundskeeping, and insurance. Their knowledge of local laws also means you won’t get a surprise fine for breaking codes you didn’t know existed. Management agencies are also experts in tenant retention; because they know what to screen for, you’re less likely to get a bad tenant. When bad tenants do appear, they’ll know how to handle them, and exactly what legal recourse you have. Vacancies occur in this business; a good property manager will advertise for new tenants, and won’t charge you the management fee on vacancies.
Landlording can be full of positive interactions where the tenants are overjoyed by the home you’ve provided them with; it can also be full of tense interactions when rent isn’t paid on time or property has been damaged. Property management takes this stress away from you; no longer will you have to hound after tenants for late rent, or explain to them that the no-pets policy was explicitly to avoid damage to the walls and hardwood. Your property manager will go over the lease with the tenants, explain expectations, and handle difficult tenants so you don’t have to. Their knowledge of the law can also save you the stress of unexpected legal action. Routine inspection services will reduce the chance of tenants acting out, and can serve to monitor the state of your investment. This saves you the worry of not being around to check on this regularly; take that vacation, take a load off, and let your property management team take care of you.