The key to successful property management is staying on top of things. Managing just one rental home can be a highly-involved task, and sometimes you just need help. Dealing with tenants, handling maintenance issues, and collecting rent can all easily overwhelm someone, especially if you are doing these tasks at several different houses. Take a look at the following 7 signs to see if you could need help managing your investment properties.
- You own more than one property. More properties mean more problems to solve, more vacancies to fill, and more tenants to interact with. Handling issues in a timely manner is important to your tenants, so if you spend more time on one property than the others, none of your tenants will be happy.
- You live far from one or more of your properties. To be a good property manager, you need to be on call 24/7. It’s best if you can get out to the properties whenever an issue arises, and this could be difficult if they are spread out all over the place.
- You have trouble finding good tenants. If you’ve got a lot on your plate, you might not be able to spend the necessary time screening applications to find the best tenants. And it is a big mistake to take the first application you get just to fill a vacancy, since a bad tenant can be more work than 10 good tenants combined.
- You are fuzzy on Landlord-Tenant Law. As a property manager, you have to follow a certain set of laws regarding resident selection, handling deposits, terminating leases, evictions, and safety devices on the property. These laws are different from area to area, and you should know them backwards and forwards to avoid legal repercussions.
- You’ve had trouble collecting rent. Sometimes, residents can be difficult about rent. They may have sensed your leniency or exploited your good will to delay their rent payments. Even worse, they may be dodging you at every turn or refusing to answer the door. Rent issues can give property managers the biggest headaches.
- You feel frustrated working with tenants. Some people love managing properties and looking after their residents, but it’s not that way for everyone. A bad resident can drag you into a mindset of frustration, stress, and irritability, which hamper your ability to professionally manage the property.
- You have trouble remembering everything. There’s a lot of responsibility that goes with managing residents and investment homes, and it’s easy to let things slip. Proper organization is critical to being a good manager, but you may just have too much on your plate to do a good job at all your properties.
Do any of these situations ring a bell? If you need help, look no further than Norniella Management Company for your Texas investment property. Our experienced, professional property mangers will keep your investment running in tip-top shape to maximize your profits. We make owning an investment property so easy that you might even forget you are the landlord! For more information about our services, give us a call at 888-979-5357.