If you own a rental property or are looking to make an investment in rental properties, you’ll want to be aware of the responsibilities that along with it. From financial responsibilities to maintenance and upkeep, the to-do list can become very long very fast. It’s important to ask yourself if you want to manage all this on your own.
Maintaining your property, whether it’s a home, apartment, or anything else, can take a lot of time and energy if you maintain it yourself. The other option is to hire a residential property management company, which gives you the freedom to live your life without worrying about every little thing that happens on your premises.
What Is The Difference Between A Landlord and Property Manager?
Property managers are companies that take over all the landlord or owner responsibilities on your behalf. As a landlord, you are the party held accountable for anything that happens on your rental property: every emergency, every plumbing issue, every tenant calling at all hours of the day and night. It can be overwhelming to be responsible for your own property, let alone whatever real estate you’re renting out. In addition to regular property maintenance, you also have to worry about the following:
Running advertising and marketing to fill vacancies
Paying your mortgage(s)
Screening applicants for credit, criminal, and housing backgrounds
Drawing up leases and other legal agreements
Collecting rent deposits (physically or electronically)
issuing refunds whenever necessary
Communicating important information to your tenants
Issuing eviction notices
If you have multiple properties, these concerns can easily multiply out of control. Add to this the legal implications of handling tenants, and you can see how difficult and time-consuming such a job can be.
A good property management company will assign a property manager to your residences and tenants. He or she will become the point person for any business or issue related to your properties. In other words, you would no longer need to worry about getting an email from an angry tenant with a backed up toilet or have difficult eviction conversations with tenants late on their rent payments.
Any rental property management teams worth their salt should be able to fill your vacancies as soon as they occur. In fact, we’ll often be able to line up new tenants before the current ones even move out. This way, your investment property pays you back each and every month like clockwork, and you don’t have to worry about a thing.
It may seem like a wise move to do the work yourself to save a little cash—especially when some managers want a percentage of your profits—but our property management fee starts at only 75 bucks per month. If you have to spend any more than a few hours on one tenant’s issues, that would be money very well spent.
What To Consider About Property Managers
In Austin, there is no shortage of options for properties or property managers for investors and owners to consider. A good Austin property management team knows the ins and outs of the city and state housing laws and building codes. We’re well acquainted with property finance, and we even have our own team of handymen and women able to fix issues as soon as they arise. We’ll keep your tenants happy and safe at all times.
In addition to freeing you up to do the things you really want to do, we at Austin Luxury Realty will build a stellar reputation for your properties. As time goes on, your apartments or homes will become highly sought after, because everyone that moves in has a seamless, comfortable, and enjoyable experience from start to finish.
We target highly qualified potential renters to make sure that your units are leased to responsible, reputable individuals. This goes a long way to ensure that your real estate doesn’t become regularly abused or vacated. To maintain a steady property income, you need a group like us to furnish your investments with full-service property management staff. With us, you can rest assured the work is done right every time and your tenants are always taken care of with the highest level of professionalism and respect.