How do buy-and-hold investors make money? The answer is finding the right tenants.
Property management companies take on this responsibility, so you don’t have to worry. Finding and keeping tenants who are a true treasure takes some up-front work that pays off in the long run.
Property management companies know that tenants are a key ingredient in building a profitable rental portfolio because:
We could go into all sorts of details about how to identify an ideal tenant, but most buy-and-hold investors we know don’t really want to embark on the search for an ideal, long-term tenant. They are especially reluctant to deal with recurring tenant needs because doing so drains time and energy.
This is where property management companies come in. We find the right tenants, manage their needs, and provide the overall care of the property to maximize your investment return.
As an investor, you care about how your property management company deals with tenants. Look at each potential company’s:
Another way to assess potential property management companies is to read what property owners and tenants are saying about them.
Before you start reading reviews, please note: you will nearly always see bad reviews from tenants because professional property managers work for owners and investors. We must enforce lease terms to protect an owner’s investment. Remember to keep this perspective when reading tenant reviews and instead evaluate how the company responds to complaints, and then look for red flags.
Examples of red flags:
Remember, tenants are your treasure; they are your customer. They have value!
Would you like to know more about our team’s track record with tenants, and other property owners? Schedule your free consultation with us today. We’re ready to help you take the next step in creating profitable real estate investments and keeping your valuable tenants happy.
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