Rental property ownership and management can be intense. Whether it's an emergency repair or a tenant who keeps on calling at all hours for minor problems, you may find your stress levels rising. How can you maintain your properties well while managing the stress that comes from rental property management? Here are four tips:
How much should you charge for rent? This is the perennial question for property owners, and it's one that doesn't have an easy answer. You can look at the homes around you, but you really need to know how much your property is worth. Working with local information and local professionals can help you set the best rental rates for your properties.
How do you choose your partner in life or work? It's not for the glossy surface, but for what really counts. How does that partner help you grow toward your goals and work with you so that you can make a difference in the world? When you choose to pursue property investment as an income stream, you need a partner who really understands how the property management business works.
Rentals properties are a hot market. However, even in a hot rental market, tenants still move on. What can you do to ensure that your rentals stay full and that you avoid temporary or even prolonged vacancies? With proper planning, you can artfully ensure that you don’t need to worry about financial losses from vacant properties.