Real estate can be a great investment to help you earn revenue both today and into the future. However, when you buy a rental property, taking care of the tenant's needs and managing day-to-day affairs can be a real drain on your time and energy. That doesn't mean that investing in real estate doesn't make sense: what it DOES mean is that you may want to consider hiring a rental property manager. Instead of tackling the minutia of your residential or commercial rental property yourself, The Empower Realty Team professionals can manage the details for you, making it easy and hassle-free to own investment real estate.
Why hire a The Empower Realty Team as your rental property management agent or team? The better question may be why not!
Our rental property managers are professionals. Especially when it comes to a larger property or commercial building, there are often a variety of issues that can come up on any given day. Instead of struggling to figure out the technical jargon of leases or working through a long list of minor tenant grumbles, you can leave that to your management service. Rather than winging it like most rental property owners would be forced to do (especially first timers), the management company has the skills, tools, and experience to easily handle the challenges of both commercial and residential real estate. Whether they're an on-site property management service or just a phone call away, these professionals can help you maintain your building, keep tenants happy, and all-around administer the daily goings-on of your property.
Property management firms save you time. Is real estate investment a side venture for you? Are you a busy professional or active retiree? Especially for property owners who have a lot on their plate already, handling the demands of a rental building can easily become overwhelming. If you can't drop everything and go to help when a tenant has a building-related emergency or even when a prospective renter wants to see the unit, you may want to look into a residential or commercial property management group. It's their job to help you operate your property, whether it's a multistory apartment complex or a commercial duplex. So instead of sucking up every spare minute of your day, running your investment real estate can be simple and stress-free with the help of the Empower Realty Team management pros.
Owning rental properties can help generate income and be a fabulous investment. But the day-to-day operation of an apartment or commercial building is often more complicated than you might think. Making owning investment real estate in Colorado a little simpler, our rental property managers are a great choice for buildings large and small. Give us a call today
Owning rental property in Colorado for the first time can be a lot to handle at once. There is rent to collect, maintenance to keep up on and sometimes, your rental property might be located quite a ways from where you live! Here are the top five reasons to use a rental property manager. Renting out property might seem easy, but if you do not quite know what you are doing, hiring a professional like us can save you a lot of time and frustration.
1. Rental property managers are professionals in their field and they know how to manage your property effectively. A good property manager will collect your rent (which can be a very frustrating process sometimes if you do not know how to go about it), help cover the day to day maintenance and communicate with the tenants about concerns or issues. Since rental property managers do this sort of thing for a living, a good one will go about the job with your best interests in mind and is generally well worth the money you pay.
2. If your property is located in an area that is quite a ways from where you are staying at the moment, hiring a property manager can really save you time and energy. Some properties require you to be there for small maintenance a couple times per week, which is very hard when you live ten hours away! Hiring a rental property manager can make this problem go away though, because you will no longer need to see to these things personally. You can simply hire a property manager that services the geographic area in which your rental is located (for example, if your property is in Denver or Colorado Springs areas) you should have no problems using Empower Realty Team.
3. If your rental requires an especially large amount of time every week, then you can easily find yourself spending more time there than at your real job! And the more rental units you have, the more time consuming this work becomes. At some point, you are going to need someone to help you, so why not hire a professional? A rental property manager can take over these duties for you. They can take repair requests, dispatch the appropriate workers and take a lot off of your hands.
4. One of the best things about rental property managers is that you can find one that suits your needs. If you do not want to pay a huge property management service to manage your property, then you can just hire a manager that you trust to do it. This manager might only have a couple properties under him and might charge you a lot less than the bigger companies will.
5. And finally, rental property management companies can provide a very professional face to your tenants. They will look out for your best interests and will try to maximize your profit. A good property manager, will undoubtedly help you make more money while giving you more spare time and less cause for frustration.
Investing a rental property is a wise decision for investors. For one, even if the housing market becomes unstable again, the investor can still see dividends on his or her investment due to the rent. Also, a housing market collapse can mean more people being forced out of their homes thus making rental properties hot commodities.
Unfortunately, managing a rental property is not as easy as some people may paint it to be as you have previous read. There are a lot of things that a rental property manager has to oversee including background checks for prospective tenants to advertising the property to paying attention to small repairs.
If you are therefore an investor and you cannot afford to oversee the operation of the property at a regular basis, you might need to hire a rental property manager. Since you will be giving them an almost free reign on your property, it is strongly recommended that you take your time and learn as much as you can about our company before hiring to manage your investment.
Once you sit down and have a talk, there are several questions you should ask so that you would glean as much information as possible to help you make your decision. One of the more important things to ask is how much would we be charging you. Make sure that during the initial conversation, you would already have a clear picture of what you will be paying.
An experienced rental property manager would be great to work with as you can easily ask other investors working with them about the services being rendered. Ask the property management company what other properties they are managing and if you can visit them. It would also show you what type of properties we are managing. If we are handling a property similar to yours and our team are doing it exceptionally, you can have a better feel of how they are going to treat your business.
If you are just starting out in the rental property business, it would be a good idea to ask how our team will handle the advertising of the property. It would be a good idea to know beforehand what options are open to you and how much these advertising options would cost you.
There would always come a time when something would need fixing in your property. In some cases, your assign rental property manager would be given plenty of freedom in these matters. You could opt though to set a limit on how much we can spend without needing your approval. This is especially helpful if you want to handle major repairs in the property which would need more funding.
Reporting is also very important. It should be clear from the get-go how often we would send reports to you. This way, both parties can avoid miscommunication. Plenty of rental property managers and owner relationships have gone sour due to simple misunderstandings due to lack of communication.
Make sure to ask these questions and you would have clearer picture of what you would be dealing with and what kind of company you will be giving access to your business. Give us a call today.
Two Locations to Serve You:
Denver Office - 100 Fillmore St, 5th Floor, Denver, CO 80206
Colorado Springs Office - 1755 Telstar Drive, Suite 300, Colorado Springs, CO 80920
Tel (720) 815-7575 Hours 9:00 a
Not sure if a property manager is right for you? Still need to learn about who we are and how we serve rental properties call (720) 815-7575 or click the button below.