About 70% of the rental properties in the U.S. are owned by individuals. The majority of these individuals set out to become landlords by purchasing rental properties.
But there are also so-called “accidental landlords” who didn’t necessarily plan on owning rental properties and using them to generate rental income. Some of these accidental landlords inherited houses and decided to rent them out as opposed to living in them or selling them. Others relocated for work but decided to hang onto their homes rather than selling them so that they could rent them out.
Are you an accidental landlord? If so, you should know that hiring a property management company to help you with rental properties could be a very wise decision. Discover how a property manager can help you below.
Market Rental Properties and Screen Tenants
If you own a rental property, you want to keep tenants in it at all times if possible. An empty rental property will be a rental property that isn’t bringing in any rental income, which will be a bad thing for business.
Property management companies can see to it that accidental landlords are able to keep their rental properties filled. They can do this by marketing these rental properties accordingly and taking the time to screen tenants to find the best options.
Handle Collecting Rent and Evictions
Accidental landlords need to do more than just keep tenants in their rental properties. They also need to make sure these tenants are paying their rent on time and facing the consequences if they don’t.
This is another area in which property management companies can help accidental landlords. They can handle rent collection and ensure tenants don’t miss payments.
In the event that tenants refuse to pay rent for one reason or another, they can also work on evicting them from rental properties. The eviction process can be long and tedious, so it’ll be nice for accidental landlords to have property managers on their side to help them along.
Take Care of Rental Property Maintenance
Most accidental landlords don’t have the time that it can take to perform rental property maintenance. They don’t always have an interest in dropping everything else they’re doing to go and fix, say, a plumbing problem in a rental property.
Property management companies can see to it that they’re able to tackle rental property maintenance for accidental landlords. It’ll help accidental landlords avoid having to commit too much of their time to maintaining rental properties they didn’t plan on owning in the first place.
All Accidental Landlords Should Hire Property Management Companies to Help
Accidental landlords like generating rental income with their properties. But they don’t always like having to keep up with everything that needs to be done with these properties.
Do you find yourself in this situation? If so, Outland Real Estate is here to help. We’re the property management company you can count on to set you up with superior property management services.
Reach out to us today to take advantage of these services.