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As of the most recent census, over a third of Arkansas residents do not own a home, making it the perfect place to start a rental portfolio. As this set of investments grows, though, you may find things start to get harder to manage. Have you considered speaking to a property management company to give you a helping hand?
Below we list five reasons you might want to consider researching property managers to take some work off your hands. Think about each entry and if you have the problem it discusses, then consider if you need a little help after all.
1. You Do Not Have Enough Time
Managing rentals can start to eat into your time. As well as being available during "office hours", you are often on call in case of emergency maintenance. As your portfolio grows, this issue can start to become untenable.
Property managers can handle as much of your portfolio as you want them to, handling issues as they come up. You can enjoy passive income as they resolve many of the more complex tasks.
2. You Cannot Find Tenants
Bringing in new tenants is not only a case of throwing a simple advertisement on a listing site. It often means sharing that listing in many locations, using optimized wordplay to draw people in.
A property management service can work with you to write an enticing listing that will bring more people in. They have expertise that allows them to promote your property in a way you would not have considered. They also often have photographers who can get good images to use in a listing.
3. You Can't Keep Up With Maintenance
Property maintenance can eat into not only your time but your profits. A property manager will have a dedicated network of repairers on call who can handle such situations. As they offer guaranteed jobs to these workers, they can also often get repairs for less than what it would cost you to hire them on your own.
4. You Have No Clear Rental Process
Ensuring you have a consistent process for bringing in renters ensures you are less likely to be liable under the Fair Housing Act. If you treat tenants differently, they may claim it is for discriminatory reasons.
As such, you likely want to use an outside service to engage in tenant screening and lease creation. Such services have a dedicated process in place to prevent many such issues.
5. You Want to Expand Your Portfolio
Real estate investing often drives you to grow your portfolio over time. Of course, when this occurs, you will have even more work on your hands. Working with a management company ensures you only do what it makes sense to engage with, leaving the rest up to professionals.
Finding a Property Management Company
Choosing the right property management company can be a hassle in itself. Researching what they offer, what they cost, and so on can eat into your time more than handling tenants. So, why don't we skip to the end for you?
We offer some of the best rates for property management around and have specialized expertise in the Rogers, Arkansas area. So, pick up the phone and discuss your options with us today to find out how we can help you moving forward.
