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Advantages of Using a Real Estate Team to Manage Your Rental
When you have a dedicated crew to manage your rental property, you receive a number of benefits. Seasoned real estate investors routinely rely on property management teams for their rental properties for good reason.
By: Coldwell Banker Paradise
In fact, experience real estate investors learn very early on in their journey that it's a lot more work, requiring substantial amounts of time and effort, to manage even a single property, just around the corner. When multiplied or scaled up to two, three, or more rentals, it simply becomes overwhelming. Here are the biggest benefits of using a real estate team to manage your rental properties:
• Experience. This is especially important if you're new to property investing. Having an experienced team of professionals that know what they're doing is invaluable. They'll help you avoid rookie mistakes that can be very costly.
• Logistics. As everyone knows, it's impossible for one person to be in multiple locations at once. But, that's often a stark reality when it comes to managing rental properties. There will be times when it's just not feasible for one person to handle everything that needs immediate attention. When you have a team, it's possible to pull off these otherwise unachievable feats.
• The good, the bad, and the ugly. While every property investor relishes the thoughts of checks pouring in from tenants, the day-to-day reality is usually different. This isn't to say that every renter will pay late, but it happens more often than you might believe. This, not to mention the fact that your rental payment can be sizably cut down when emergencies arise and there's a need for a deep discount. For instance, if there is a mold issue in the kitchen, and it needs remediation and calls for remodeling, you'll have to discount the rate. then, there's the unpleasantness of dealing with evictions. These latter scenarios are something that a real estate team can manage so you don't have to.
For more information about renting a home or selling your home, please contact Brendan Maughan and his team at http://teamparadisepropertymanagement.com/