While becoming a landlord can lead to successful real estate investments, it doesn't come without its challenges. This is especially the case if you face issues with property management, like finding good tenants.
The trick is knowing when you need landlord rescue services to step in and help you with your rental property. Understanding this will stop you from getting crushed under the weight of your investment and allow you to focus on growth.
Read on to learn about three signs that indicate you need landlord rescue services in Kansas City, Missouri.
1. Unoccupied Rentals
Although every landlord has unoccupied rentals on occasion, having vacant rentals for several months indicates something isn't flowing right. Obviously, a vacant rental property means you aren't earning any rental income, and it's a clear sign you need landlord rescue services.
Usually, it means you aren't doing enough marketing, or it may not be priced right for the market. You may also need to make upgrades to attract the right tenants.
A property management company can turn you from an accidental landlord to a thriving property owner.
2. Issues With Maintenance and Repairs
Rental property maintenance involves weekly, monthly, seasonal, and annual maintenance, which involves numerous tasks. It's all too easy to get behind on maintenance when you have a busy schedule.
The trouble is, that maintenance issues can quickly become significant problems if you don't take care of them immediately. First, regular maintenance and small repairs allow you to catch problems before they snowball into major repairs.
In addition, neglecting maintenance harms the health of your tenants as well as your reputation.
As a landlord, maintenance coordination is key to success, and this involves setting a budget and creating a maintenance schedule. The best way to do this is by hiring a property management company to take care of all maintenance and repairs on your property.
Doing this also allows your tenants to make maintenance and repair requests online, saving you time and money.
3. You Have Problem Tenants
Finding the right tenants is a huge challenge simply because it takes so much time. As a landlord, you need to be able to conduct thorough background checks that include employment screenings, past landlord references, and criminal background checks.
A quick credit check and employment check aren't enough to learn about how a potential tenant will treat your rental property. Doing thorough checks increases the likelihood you'll find responsible long-term tenants who will take care of your property.
Having problem tenants means you need help. Property management companies will do tenant screenings for you, which include pre-screening income and employment verification, tenant history, and more.
Are You Ready for a Landlord Rescue?
You have enough on your plate as it is, and a landlord rescue is just what the doctor ordered to help you grow your business.
Property Management Inc. (PMI) is an independently owned and operated property management company located in Kansas City. We offer a wide range of property management services, like tenant screening, property marketing, property maintenance, inspections, rent collection, and more.
We're committed to providing the highest quality management services to all our clients while ensuring an exceptional experience and professionalism from our entire team.
Contact us today to learn more about how our services can help you grow your business.
