Property management matters from the selection of tenants and all
that follows. The best location and building in the world won’t overcome
the cost of poor management; when tenant complaints are ignored, as a
rule, it can become troublesome. Leaving unresolved tenants and
management can also lead to non-payment of rent in protest of poor
management practices. After all, if tenants aren’t happy, they can
leave. Read on to discover the five property management mistakes
Belleville investors often make.
Assess Priorities
If cost is the leading priority for the team you select, this is how
investors often make one of the biggest property management mistakes
Belleville. Let’s face it; you get what you pay for, including choosing a
property management company. If a property management company is
pricing their services far below others, they probably lack enough staff
to be attentive to the needs of the tenants; when tenants call, and
there is no answer, this can be a costly situation.
Be Realistic
One of the easily remedied property management mistakes Belleville
investors often make is failing to listen to experienced property
managers’ advice. Quite often, less emotionally attached professionals
like property managers see past our emotional attachment and offer input
to help you get the most potential return on your investment, which may
mean that the purple carpet you love has to go. It is best to go into
the project with open eyes and a willingness to listen to constructive
criticism of your property.
Unexpected Expense Fund
Sadly, one of the financial property management mistakes Belleville
investors often make is the failure to account for an emergency fund of
about ten percent of the property’s value, which should be readily
available for unexpected expenses, which will happen.
Supervisor
If you’ve experienced the discomfort of being micromanaged, you’ll
understand all too well the next of our property management mistakes
that Belleville investors often make. When you’re a passive investor,
which is possible when you hire a property management company, it means
just what it sounds like; you should be busy doing anything but managing
your rentals. Then, when you work with trusted and reliable experts
like those at Cardinal Creek Properties, you can relax and start
enjoying your retirement in style, knowing your property is in good
hands.
Delayed Commitment
Delaying your decision is one of the most costly property management
mistakes Belleville investors often make. Don’t wait until the rehab is
completed on your investment property to begin working with your
property management company, or you’ll likely find yourself in the red
with your property sitting vacant for weeks. It takes time to market and
screen prospective tenants. Any top property management provider like
those you’ll find at Cardinal Creek Properties will have begun the
process long before the first day the unit is available for tenants so
that you start collecting rent checks immediately.
Why make any of the property management mistakes Belleville investors often make?
Work with [compan] instead, and our professional full-service team
can take on as much of your landlord responsibilities as you wish.
Cardinal Creek Properties understands you want things done your way, and
working together as a team, we will help you make the most informed
decisions and earn the highest potential returns for your investment
dollar. At Cardinal Creek Properties, we have years of experience
finding and keeping good tenants, maintaining properties, and working
with local vendors. Cardinal Creek Properties isn’t just another
property management company; our team members live and work here in
Belleville; we’re your neighbors. We understand the importance of
building good relationships that help protect your investment through a
strong sense of community. Contact Cardinal Creek Properties at (314) 467-8137.
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