Real estate continues to be one of the most lucrative investments anyone chasing wealth can make. It's quite attractive to investors in part because of how passive it can be. You can buy a property, put it on the market for rent, and let someone else manage it for you.
There are definitely advantages to being a hands-off landlord. Perhaps the biggest advantage is that it frees up your time. You don't have to deal with the day-to-day management of your property, which can be a huge time commitment.
Learn how to achieve this lifestyle with turnkey property management.
What Is Turnkey Property Management?
Turnkey property management is when you hire a professional company to manage your property for you. This type of service is ideal for busy investors or those that live far away from their investment properties. The management company will take care of everything from finding and screening tenants to collecting rent and handling repairs.
Benefits of Turnkey Property Management
There are many benefits that come with using a turnkey property management company. Here are the ones you may find the most beneficial.
Handover Time Consuming Tasks
A reputable property management company will take care of the time-consuming tasks associated with being a landlord. This includes tasks such as:
- Advertising your rental property
- Screening and selecting tenants
- Collecting rent each month
- Dealing with tenant concerns and requests
- Coordinating repairs and maintenance
- Preparing the property for new tenants
This will free up your time so that you can focus on other important things in your life.
Get Better Tenants
A good property management company will have a process for screening tenants. This process will help to ensure that only qualified tenants are selected to live on your property. The last thing you want is to end up with problem tenants that don't pay rent on time or cause damage to your property.
You may be thinking that you'll save money by managing your property yourself. But, this isn't always the case. A full-service management company will have experience dealing with repairs and maintenance issues.
They will also have established relationships with vendors that can get you discounts on the work that needs to be done. In the end, this can save you a lot of money.
Reduce Your Stress Levels
One of the biggest benefits of using turnkey property management services is that they can help to reduce your stress levels. As a landlord, there are always going to be things that come up that you'll need to deal with. But, when you have a professional company managing your property, you can rest assured, knowing that everything is being taken care of.
What to Look for in a Turnkey Property Management Company
Now that you know the benefits of using turnkey property management, you need to find a reputable company to work with. Make sure the company you're considering has experience managing properties like yours.
Read online reviews to see what other people are saying about the company. Find out what services the company offers and make sure they meet your needs. And of course, ask about the fees charged and make sure they are reasonable.
Become a Handsfree Landlord
There are many benefits that come with using turnkey property management services. If you're looking for a hands-free way to invest in a rental property, then this is the way to go.
Here at the Home River Group, we offer full-service property management services. We'll take care of everything from finding and screening tenants to collecting rent and dealing with repairs. Contact us today to learn more about our services and how we can help you achieve your investment goals.