It seems like just about everyone reaches a point in their life when they want to be a landlord. From reality TV shows to glamorous stories of how a few stand-out individuals went from working full-time to making hundreds of thousands of dollars off their rental properties, there’s really no wonder why people think being a landlord is so lucrative and enjoyable. After all, at first thought, it seems like owning a bunch of properties and waiting for the rent checks to come in each month would be so carefree and simple. Not to mention that you could make a lot of money by just making a bank-run every month.
Of course, in reality, life as a landlord is by no means simple.
Landlords have to deal with everything from small hiccups in the plumbing system to electrical problems, house updates, damage caused by tenants, and so much more. In many cases, they also have to provide lawn care for their properties, schedule maintenance check-ins, and pay for all kinds of repairs–most of which is likely caused by tenants who were on their way out. Staying on top of due dates and deadlines is yet another difficulty, and when you begin looking at the long list of responsibilities a landlord is expected to handle, it becomes apparent that it might not be such an incredible option after all.
But, despite all the headache, it remains very lucrative. And, if you get in the right tenants, you can save yourself a lot of trouble. However, even with these things in mind, landlords still have to be sure that the lawn is taken care of, that the house is maintained, that repairs are fixed in a timely manner, and that all issues tenants bring up are looked after. This means taking a lot of phone calls, scheduling a lot of handyman visits, and even fronting money for these things out-of-pocket. Typically, the rent checks are enough to keep landlords inspired to keep going since this hard-work surely pays off at the end of the money, but in-between paychecks, it can be difficult to handle everything.
That’s where a property maintenance company often comes into play. Whether you own one property or many, a property maintenance company can help you make sure that everything is taken care of quickly, easily, and with a smile. Rather than you spending countless hours talking to tenants, scheduling repairs, and meeting with the people you hire, a property maintenance company will take over that role and basically handle all of the headache of being a landlord.
Once you give the number to your tenants, they will from then on call the company to report any issues with the property. The company will then be responsible for handling all needed maintenance and repairs, and then giving you a summary of what’s going on each week. In other words, their job is to relieve your stress and assure you that everything is taken care of.
The end result is that you have more time and energy to put into marketing your properties, worrying about due dates, and cashing checks.
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Memphis Buy And Hold is specializing in locating, purchasing, renovating and managing single-family and multi-unit properties and possesses over 12 years of experience in real estate investing and property management in the Memphis and Nashville markets… Learn More…… www.memphisbuyandhold.com