Are you feeling burned out as you try to juggle tenant screening, filling vacancies, and other tasks? Over 43.3 million households are up for rent across the US. If you have multiple properties as an investor, your to-do list can feel endless.
Instead of managing rental properties alone, request help from a property management company in Bellevue, WA. Their services can save you time, money, and stress. Not convinced?
Read on to discover the signs it's time to request help today!
1. Lack of Knowledge
If you're new to owning a rental property, your lack of experience and expertise could lead to problems. For example, perhaps you're unaware of Fair Housing laws or local landlord/tenant laws. You'll also need to consider:
- Obtaining a rental license
- Obtaining a Lead Certificate
- Adhering to environmental guidelines
- Adhering to habitability standards
- Meeting building codes
- Security deposit limits
As a property owner, it's your job to know and follow these laws. However, laws and regulations are constantly changing.
Hiring property managers will ensure you always remain compliant. An experienced team will keep you informed regarding federal, state, and local laws. With their help, you can avoid legal repercussions or fines.
2. You're Stressed
Landlords need to remain available 24/7 to help tenants. Daily duties also include:
- Compliance and legal items
- Tenant screening
- Leasing and marketing vacant units
- Property inspections and turnover
- Coordinating maintenance requests
- Rent collection
- Sending late fee notices
- Addressing complaints
These responsibilities can cause you stress, leading to burnout.
If you feel stressed, a property management team can take some of these tasks off your schedule.
3. You're Growing
While managing several rental properties can ensure growth, it can also become successful. Your responsibilities will grow as your real estate investment portfolio does. It could become more difficult for you to juggle daily tasks, including:
- Tenant screening
- Maintenance requests
- Tenant requests
Hiring a property manager will allow you to grow without adding to your busy workload. Your property manager will assign tasks to specialized individuals. They can handle daily operations for your numerous properties.
With help from property managers, you can dedicate more time and attention to growing your business.
4. You Rush
You could make mistakes if you rush through your landlord duties.
For example, you could rush the tenant screening process and choose tenants who don't pay their rent on time. You might have to deal with complaints, property damage, evictions, and more.
Your property management team can handle these tasks for you while remaining thorough.
5. You're Out of Town
It's difficult to handle multiple properties if you're out of town. Traveling can become time-consuming and costly. Hiring property managers can help you oversee every property from a distance.
Whether it's a small task or an emergency, they can act on your behalf.
Hire a Property Management Company in Bellevue
You don't have to juggle your responsibilities as a rental property owner alone. Instead, hire a property management company in Bellevue. They'll help you make the most of your investments.
Experience success as a real estate investor today.
Need help managing your Bellevue properties? We're here for you.
Contact us today to learn more.