An insurance company conducted a poll in 2020 asking tenants what they looked for in their ideal landlord. It might surprise you that the overwhelming answer isn't "consistent rental prices."
More tenants said they'd prefer a landlord who quickly responds to maintenance issues. You can have a good tenant/landlord relationship and constant rental income if you put work into the property.
But what happens if you don't? Sloppy maintenance is a sign you need landlord rescue. We know being a landlord is a busy job, but don't assume your property management skills are infallible when they aren't.
Learn the signs -- here are indications you need landlord rescue.
You're Always Short on Time
Balancing time is one area where property owners often need help. Take maintenance, for example. Keeping the grounds and common areas clean takes time you could use for bookkeeping.
Keeping your finances in order is vital. They need to be in shape for operations and tax purposes. Understanding how much money is going and coming is also generally good.
However, you aren't doing your maintenance checks. Also, the tenant from three weeks ago's request that you fix their leaky pipe fell to the wayside.
The average rent for a one-bedroom apartment was $1,343 in 2023. This is not a cheap price to pay for an ill-managed rental.
Consider hiring a property manager if you're having trouble balancing bookkeeping, upkeep, and other landlord tasks. They can take care of tasks you can't handle at the moment.
You're Having Issues With Tenants
Tenants and landlords can have an amicable relationship when things are going well for both parties. It's hard to handle tenants when things go south.
You may find yourself in neverending conflicts with renters or handling issues renters have with each other. There may be a tenant or two that doesn't pay on time, or there's a constant barrage of complaints.
A property management company can enforce lease agreements and handle tenant issues. You can even have your chosen manager find agreeable, responsible renters for your investment property.
The property manager can run tenant screenings for you. You don't have to worry (too much) about problems if you've got good tenants from the start.
There Are Geographic Difficulties
Landlording might be difficult if you don't live near your Brea rental property. It's not easy to deal with problems, be they maintenance, rental, or otherwise if you stay miles away.
It might be prudent to hire a local property management company. They can better handle on-site complications, ensure proper upkeep, and look after the renters. The property manager can report any problems at the property.
Do You Need a Landlord Rescue?
It might be hard to recognize the signs you need landlord rescue. But the realization can help get your rental property back in shape.
Knowing you need help is good and well. But who can you rely on to provide aid? PMI County Line is a full-service property management company in Brea, CA, that helps landlords manage their investments.
Get in touch with us today! We'll help you become the ideal landlord.
