For many investors, adding real estate properties to their portfolio is a no-brainer. As is the case with any investment, protecting that asset is of the utmost importance. Many property owners think by employing someone else to care for their properties, they are losing money. In actuality, more time to tend to other securities or personal responsibilities, offering specialized services to your tenants, and less stress overall, is the blueprint for more money in your pocket. In this post, we will provide 3 questions to ask yourself as a landlord and why regardless of your circumstances, there is always a benefit to hiring a professional property management team.
“Do I want more time?”
From collecting rent, dealing with tenant issues, to scheduling maintenance (or even trying to do repairs yourself), these are all time-consuming tasks. The age-old saying, “Time is Money” was coined by Benjamin Franklin (the face of the $100 bill) for a reason. Your time is valuable. Instead of screening tenants to fill vacancies or figuring out what contractor to use to fix whatever appliance keeps breaking, having a licensed and insured management company deal with all of that hassle is blissful. Units can be filled, and broken windows can be fixed without you having to hear anything about it (if you prefer). You can spend your time making money elsewhere. More time = more Benjamins in your pocket.
“Do I enjoy dealing with tenant complaints?”
Listen, we’ve all told a little white lie before. But when one of your tenants calls and wakes you up at 2 AM because they forgot their keys (again), did you really mean it when you told them they could call at any time? Reduce the stress and headaches and don’t lose sleep. Lamacchia Property Management provides round-the-clock customer service. Maybe your tenants are perfect, or there’s a spare key outside the property somewhere, but what about legal issues and liability? Face it, there are a lot of stressors when renting out a property. Landlord assistance with LPM ensures the highest level of care. LPM navigates complicated laws and deals with convoluted legal issues so you can be sure to have peace of mind.
“Do I want to maximize my rental income?”
Professional property management is an added layer of protection on your investment. LPM provides an initial property inspection and 2 routine inspections yearly (usually implemented in the spring and fall). We deal with property turnover and lease renewals, with every effort to avoid any gaps in income due to vacancies. We’ll also help guide you with decision making about the future of your property and manage improvements. Lamacchia Property Management also offers an Eviction Protection Program and Rent Guarantee Program.
Protecting real estate assets is an essential matter to safeguard the longevity of your investment. Time is an imperative asset to secure as well. When you use a property management company, you are gaining more time, more money, and less stress. Whichever is most important in your life portfolio, there is always a benefit to hiring a professional property management team.