Individual real estate investors own over 70% of the rental properties in the US. If you're among them, congratulations! Just don't let your landlord responsibilities weigh you down.
Excess landlord stress can affect your mental and physical health. Before that happens, request landlord rescue services.
Not sure if you need landlord advice? Read on for the signs it's time to ask for help managing your Orange County, CA properties.
You're an Accidental Landlord
If you recently inherited property, it can take time to navigate the local real estate market. As an accidental landlord, it's normal to make mistakes. Unfortunately, these mistakes could affect your profitability.
Instead, get landlord advice from an experienced property manager. Their understanding of Orange County's real estate market can give you an advantage.
For example, they'll understand what locals are looking for in rental properties. They can ensure your properties are attractive and modern. You can use a tenant portal to streamline rent payments, maintenance requests, and more.
Modernizing will set you apart from other landlords. Tenants may prefer your investment property over another if you implement smart home technology.
The Rental Property is Vacant
Do you have a property marketing strategy in place? If not, Orange County renters won't find your rental property. You could lose thousands of dollars every month your property sits vacant.
Choose a property management company that offers marketing and tenant screening services. Digital marketing will maximize your reach. Tenant screening services can help you avoid stressful renters.
You've Neglected Maintenance
Schedule a property inspection right away. Routine inspections can help you spot problems before they worsen. A property manager can handle this task for you.
They'll hire reliable vendors to ensure maintenance requests are done on time. Otherwise, tenants may grow annoyed. They could move out, sue, or complete the repairs themselves.
Keeping up with maintenance can save you money. You won't have to wait until a worst-case scenario to hire a contractor.
You're Stressed Out
As an accidental landlord, it's normal to experience some stress while you learn the ropes. Excess stress, however, can affect your:
- Mood
- Digestive system
- Immune system
- Cardiovascular health
- Mental health
Hiring a property manager will allow you to better manage your time. They'll minimize human error and maximize efficiency using automation. This will help you avoid landlord stress.
Choose a company that uses property management software. They can keep track of multiple properties while minimizing delays.
You Lack Legal Expertise
As a new landlord, you may not understand every housing law. Ignoring federal, state, and local regulations could lead to fines.
Hire a property management company that offers legal support. They'll ensure you remain compliant.
You Need Landlord Rescue Services
Do these problems sound familiar? It's likely time to request landlord rescue services. Hiring a property management company can help you avoid unnecessary stress.
You can outsource your landlord responsibilities and improve your ROI in the process. Our team at PMI Patron has 20 years of industry experience.
Rely on our award-winning services, software, and proven strategies. Contact us today to request a rescue!
