Charleston is becoming a very popular destination. Thousands of people move to Charleston every year, and the real estate investment might become quite a good idea. Let’s say you already have a house that you want to rent out. What would be your next steps?
Probably you would make a sign for your yard, put the ad on Craigslist, post some pictures on Facebook, asking your friends to repost it and that's it, all you can do now is wait. You may receive some phone calls from the people who want to view your house, but usually, it’s during your working hours and you have to ask your boss to leave earlier. And then how can you be sure that these people are reliable and won’t move out in 2 months and then you have to do everything all over again? And most importantly what about the price? How would you know how much your house is worth? $1,200? $1,500? Or your prime location will let you charge even more than that?
Do you want to put yourself through all of this nightmare? Owning a rental is, of course, lucrative, but stressful at the same time. The best decision you can make is to find a good property manager.
But how exactly can a property manager help you?
First, besides criminal background check, they ask all applicants to verify their income and check their credit score, making sure that your future tenants will pay timely and will take good care of your home.
Second, they can rent you place in literally days. All of them have contracts with major online platforms with a huge audience, resulting in top placement on local rental websites and immediate interest in the property. Simple example: what will be more efficient? Your 357 friends on Facebook or 1k unique views every week?
Third, they make sure that your house stays in the same condition during the time your tenants are there. They make an inventory list of all of your possessions, take notes about the condition of walls, floors and all the details that you can miss. While the tenant is there they provide routine inspections, making sure that nothing is damaged.
Forth, good property management company has its own maintenance department for all of the basic repairs like leaking faucets or changing a stove top. In case of the more serious problems they usually have good connections will all local professional companies that specialize in this particular repairs.
Fifth, what if you will have to get rid of these tenants? Do you want to go to the court? For the property managers it’s not the first time, and probably not the last time either. They have standard procedures that they follow during the eviction process, all in compliance with the law. They can handle the entire eviction process, making it maximally stress-free for you.
Finally, they keep it very clear when it comes to your money. They use online systems that you can access any time to view your financial statements and see when is your next disbursement.
All of this should convince you not to reinvent the wheel and find a trusted property manager. With their knowledge and access to the systems, all you will have to do is to relax and enjoy your cash flow.