Everyone has a general life plan. Even if they’ve convinced themselves otherwise, there’s a goal floating around, deep in the back of their mind. And, whether you claim the thoughts or not, that’s one of the marvelous things about life – you’re free to envision any potential future for yourself. No beginning is ever too small. No investment is ever too large.
And, with this area’s desire for growth, a boost in interest for the purchase of rental property has closely followed. It’s the perfect time to consider jumping on the Real Estate bandwagon.
One of the amazing things we do, here at The Flanagan Group, is guide people in the direction of the best investment. People are becoming increasingly involved in buying rental properties simply because the benefits are as vast as their goals and desires. It’s also an asset that’s adaptable to whatever life situation you happen to be in. However, diving into the rental property ownership pool can be a bit tricky. Having a professional on your team, to manage your properties, holds quite the beneficial note.
Obviously, finding a quality tenant is one of the key elements to the success of a rental property. And a reliable screening process is necessary for tenant placement. Having a property manager would eliminate that task from your to-do list! With a specific assessment method in place, and the helpful eye of a professional, it’s basically the same as pushing an “easy button”! You’ll have instant peace-of-mind knowing it’s part of their job description to find the best tenant possible, as well as initiate and fully enforce the terms of your lease.
There’s also a higher chance of shorter vacancy cycles on the property. Your manager will take on the job of overseeing cosmetic improvements, repairs, cleaning – anything that will prepare the property, or maximize the revenue. With a readily available list of contractors, any job can be completed within a couple of days! If you have an agent (or, in our case, a group of agents), there’s a specific local market familiarity to aid in determining the best rent rate for the area. If you price it too high, you’re stuck waiting for a specific renter. If you price it to low, you could potentially lose money every month the tenant is in the unit. Determining the optimal price requires knowledge on recently sold comparable properties, as well as access to rental rates.
An experienced property management company also holds the tools to effectively market your property, as well! A professional will have written hundreds of ads. And with an understanding of what to say and where to advertise, there’s prime opportunity to reach a larger pool of candidates in a short period of time – making a new tenant search super simple.
Added bonus: If you’re working with a Realtor, they know how to sell a property. So, swaying an on-the-fence renter is a piece of cake!
The best part of hiring someone for the job? You don’t even have to live in the area! Or, better yet, you can take a vacation, of any length, whenever your little heart desires. And, here at The Flanagan Group, we have all the tools and knowledge necessary to make each process a breeze. Stop by and talk to us! We’d love to help you achieve that life goal!