Most complicated thing ever is to manage your property? You are absolutely…wrong. Freedom Rents does not want to discourage you. However, we have listed some disadvantages of managing your own property so you can decide for yourself.
‘No Money, No Problems.’ – Property owner FT costs of property management.
Property management must be at its finest if you want to rent your property. You must pump a thumping amount of cash into either building your new property or upgrading the property you purchased. Apart from the fancy-looking rooms and fittings you install, safety installations according to the code and standards of the landlord and tenant board must be met. A nice, big blow on your wallet!
Once rented – assuming you didn’t have trouble finding great tenants (bold of us to assume) – every minute repair of the property, at any time of the day becomes your responsibility. If the light bulb went out or the tenant’s heater stopped working, the tenant will call you. A hefty cost will await even if you live near your property. We will not even start on how it would be if the property is out of your reach. ‘Baby, bring me closer’. But why, when Freedom Rents can cover for you?
‘Tenant better have my money.’
Without a doubt, all you want is to earn a good, few dollars while spending quality time with your family. For this to take place smoothly, you need to have excellent rental management skills. Freedom Rents wants the same for you and will provide quality rental management. However, if you were to manage your property, collecting rents from your tenants could be a real pain. Not all tenants will pay rent on time, some will delay while some will not pay it at all.
Making sure rent reaches you on time will consume a lot of your time and energy. If you relied on the money from renting your property for expenses, look forward to some unfortunate inconveniences. Freedom Rents, as experts in property and rental management, will call the tenants for you, get your rent deposited on time and make sure you are inconvenience-free.
Teardrops on my property.
As a result of poor property management and rental management, if the tenants never paid rent, or they damaged your property you would have to deal with the entire eviction process. You need to maintain clear documentation and evidence of every transaction and conversation for a smooth eviction process. Your property management company, however, maintains documentation from the very beginning.
The loss of rent due to lack of experience in rental management and the costs of repairing your property is not your only issues. Dealing with the troublesome tenants would cost you more money, time, and peace of mind. Worst case scenario- your tenant can even threaten you or damage your house further. Phew, take a long, deep breath.
If you have already experienced this, we would like to give you a big hug!
What are you dealing with here?
- Money, Money, Money. (Loss or gain, though?)
- Documentation of everything related to– property owner, tenant, and the property.
- Sudden bursts of thought: “Am I running a charity?”
- Tenant screening
- The process of eviction
- Bad blood with troublesome tenants.
- More thoughts, “Am I really not running a charity?”
In simple words, a lack of expertise in property management and rental management.
As a well-experienced property management company, Freedom Rents has solutions to everything. We promise. Property management, the late-night calls and endless repairs that could scar you become our responsibility. Rental management, tenant screening, documentation, and the eviction process will be our responsibility too. We will take all the hits for you while you lay back and sip that cup of coffee. Experience the freedom of renting your property with us. Your property is our priority.