Property Management Blog
MANAGING RENTAL PROPERTIES DOESN’T HAVE TO BE STRESSFUL
If you’ve ever wondered if the headache of managing your investment properties is worth it, you’re not alone. A recent survey of landlords by the home improvement company Porch found that 88% had experienced stress in renting out their properties.
But the solution isn’t to divest or grin and bear it. Hiring a property manager can help alleviate stress and potentially improve the financial health of your investment. Here are four examples of ways a property manager can make life as a landlord easier.
PROPERTY MANAGERS ARE EXPERIENCED IN HANDLING TENANT DISPUTES AND ISSUES.
Nonpaying tenants, evictions, and altercations between tenants are just some of the major headaches of being a landlord. A property manager will be able to handle those issues in a professional manner with as little stress to you as possible.
PROPERTY MANAGERS ARE VERSED IN REAL ESTATE-RELATED REGULATIONS.
Do you know how federal fair-housing laws apply to you and your property? Do you know if there are local antidiscrimination ordinances? And do you know what you can and can’t ask about requests for assistance animals? Property managers do. Hiring a property manager can help you reduce your legal risk and remove the need for you to stay on top of complicated regulations.
PROPERTY MANAGERS ARE ON-CALL SO YOU DON’T HAVE TO BE.
Whether it’s a 3 a.m. plumbing emergency or a last-minute showing, you’ll be relieved to have a professional handling time-consuming or inconvenient tasks instead of them falling to you.
PROPERTY MANAGERS CAN BENEFIT YOUR BOTTOM LINE.
The fees associated with hiring a property manager can be offset by timely payments, competitive rents, low vacancy, and other benefits of professional management. Property managers often have case studies that show how they’ve helped other properties and what they may be able to do for your
Take a moment to visit with us and let our years of experience help reduce your stress and improve your bottom line!
- Texas Realtors
It’s not easy to learn all of the requirements investors must meet in order to run a rental business. Whether you have a single rental property or several, you ARE running a business.
There are many, many guidelines you must follow. No one sits you down to explain them or emails you a packet outlining them in a step-by-step format. There’s not one place to find out everything you need to know - you must discover the information and requirements. This process takes time because the details are not always easy to find. Even so, you must comply.
A real estate investor or professional property management company should have detailed knowledge of your rental property. At Rollingwood Management, we have a thorough owner and property account setup process that includes several steps for developing a complete owner and property picture. We develop an in-depth understanding of your specific expectations and your property expectations so we can make sure the property is adequately maintained and complies with housing and habitability requirements. What does an investor need to keep up with?
There are federal and state and local laws concerning habitability issues that you are responsible for. Many of these are outlined in the International Property Maintenance Code. Additional laws, such as lead-based paint, asbestos, smoke detectors, carbon monoxide detectors, the Texas Lock Law, bed bugs, mold, and rodent or insect infestations will impact your property.
Another example is that you are required to report all rental income to the Internal Revenue Service. As your property management company, we prepare and provide all the required 1099s for you. We also prepare cash flow statements and any additional needed documentation for you to submit with your income taxes. You get copies of all your invoices each month; we want to be completely transparent. These records are digitally prepared for you to streamline your tax process. These are just a few of the areas that you’re going to have to stay on top of.
At Rollingwood Management, we take pride in our full property documentation and reporting. Your property manager will probably know your rental property better than you! Our detailed record keeping and tracking will meet required deadlines and remain in compliance. Our annual property surveys are sent to you before we renew the lease agreement. This helps you stay on top of the property’s condition and help to eliminate maintenance/expense surprises.
Let us put our years of residential property management experience to work for you and your investment. Schedule a free rental market analysis with us or email us and we’ll answer any questions you have. We can also discuss how our services will help you achieve your investment goals. Rollingwood Management is a fulltime residential property management company. We only manage residential properties, like yours.
The Texas Association of Realtors® has approved our property manager Diana Cuero to receive the Texas Residential Property Manager or TRPM® designation. This Texas-specific statewide designation is held by less than 1% of the 120,000 Realtors statewide. This shows Diana’s commitment and dedication to the specialty of residential property management. The required coursework and 200 unit years (number of units managed per year) of property management experience have aided her in gaining further knowledge and training on current business issues impacting property management, how to mediate tenant relations, proper maintenance and the ins and outs of the Texas Association of Realtors® Property Management Agreement. Diana also acquired the Texas Residential Leasing Specialist (TRLS) certification which is a required prerequisite to the TRPM designation.
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