Self-managing a rental property comes with well-documented benefits. DIY landlords have complete operational control, and they're in a good position to maximize their income.
If you're a first-time landlord, it's hard not to choose self-management as opposed to hiring a property management professional. While the benefits are undisputed, DIY rental management has its fair share of drawbacks.
Unfortunately, some landlords hang on to their duties, not knowing when to give up and call in for help. Don't be like such property owners!
In this article, we're sharing the telltale signs it's time to seek landlord rescue.
Struggling to Find Tenants
According to an Urbanize news report, Atlanta is consistently ranked among the top 10 rental markets in the country. This is good news for local landlords, but it doesn't necessarily mean you'll always have a steady stream of tenants.
Sometimes the rental demand decreases, making it more difficult to find new tenants easily. Even with optimum market conditions, you can still record a low occupancy rate for various reasons.
As such, if you're struggling to find tenants in Atlanta, don't wait too long to hire a property management company. Even in a tough rental market, these professionals have the expertise to market your property and fill it in no time.
You're Getting Bad Tenants
Perhaps finding new tenants isn't a problem for you, but you've noticed that many of these tenants are problematic.
Fewer things make landlords stressed than a tenant who doesn't pay rent on time and disregards the rental rules. You can always evict such tenants, but evictions must follow state law and can take some time.
Getting bad tenants consistently is a sign that you need landlord rescue immediately. It means you're not doing any renter screening, and if you are, it's either flawed or not comprehensive. Property management companies have mastered tenant screening, and you can count on them to send only the best tenants to your rental property.
You're Not Making a Profit
The primary goal for investing in a rental property is to earn rental income and bank a profit every month. Unfortunately, although rental real estate is known to be a lucrative market, it's not guaranteed that your investment will be profitable.
If you find that you're spending more money on property expenses than it's generating, don't even think twice about hiring a landlord rescue service. So many things could be going wrong.
For example, you could be undercharging your tenants, which can be the case if you set your rental rates without doing a rental analysis. Or perhaps you're spending too much money on repairs and maintenance.
Either way, you need rental property accounting experts on your team, and that's what you'll get when you hire a landlord rescue service. From evaluating your rental rates to optimizing your maintenance processes, they'll do everything to help you maximize your rental income.
Don't Hesitate to Get Landlord Rescue
Knowing when to get landlord rescue can be the difference between success and failure as a landlord. If you're seeing any of these signs, it's time to find a property management company in Atlanta.
Thankfully, you won't need to look too far. Rent Appeal is an Atlanta-based property management firm that's been in business since 2013. Our services include marketing, tenant screening, rent collection, and repairs and maintenance.
Call us today to get rescued!
