Welcome to the Real World of Real Estate

So you made the plunge. You plunked down the cash and bought a house or apartment to rent out. You have entered into the real estate zone. Now the nightmare begins. You get woken up at 4 a.m. for a leaky faucet. Or you have to chase down that tenant that always pays late.

Then the local zoning committee changed the law without telling you. And you got hit with a big fine. The bills keep piling up, and your investment looks like a lemon. Where are the profits? Then you wake up. It was all just a bad dream because you have your trusty property manager to take care of your investment.

Real Estate

Avoid the Nightmare and have Good Results Instead

Investment in real estate is one of the best moves you can make with your money. You have tenants living under a roof you own so you have to take care of them. You have to keep the place safe and well kept. This alone can be a big chore. You can spend a lot of time and money contracting these jobs out yourself, or you can hire a property management service to do all the work for you. This lets you rest easy and focus on your overall investment strategy.

However, there is a lot more than just taking care of the busy work of property maintenance and upkeep. Property managers can save you money and improve your investment returns.

Real Money Savings

One example is in zoning laws. It is difficult to keep up with all the changing requirements. This puts you at risk of violation and a subsequent fine. Sometimes, these fines can be quite large. A good property manager though knows how to keep up with the regulations and keep your property in line with the code.

Then there is the collection of rental payments. This must be done efficiently, and if a tenant is late then, the right follow up is necessary. Not only do you avoid the discomfort of personally collecting late payment, but you know that the collection will be done professionally and promptly when using a property manager.

Next, there is energy savings. Heating and cooling a building is one of the biggest costs. A state of the art system can save thousands of dollars in climate control bills. These systems must be maintained and monitored for maximum efficiency. The best property managers can do this as well.

When it comes to money, the issues can be quite complex. For example:

  • Tax issues including federal, state, and local taxes
  • Payroll and budget planning
  • Cost of maintenance
  • Transfers, sublets and closings

All of these areas are places where you can lose money if you are not careful. They are also places where you can save tons of cash with a professional property management service.

Sachin is a freelance writer with experience in real estate writing. He knows that property management new Rochelle can help maximize your real estate investment returns.

Image Credit: Sheila Sund