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Self managed rentals have costs that many don't consider... What is your time worth?
You just bought a property in North Carolina. You’ve heard great things about the area and are really excited about the idea of your first “income generating investment property.” It will be great. You’ll put a sign in your yard, find some great tenants, collect rent each month with a large margin, never have maintenance concerns, and then do it all again when they move out after a few years.
In theory, it sounds great. But chances are, you aren’t going to find a rental by only placing a sign in your yard. And, those “great tenants” may turn out to have a criminal background or bad credit. Sometimes, your tenants might pay late. The truth is, your great tenants might break something. Worst of all, they decided to move out earlier than you expected…..Now, what?
Why not consider hiring a property manager? Instead of worrying about whether or not your tenants are going to pay each month, just enjoy the money direct deposited into your account each month. Property manager professionals are just that … professionals. Property managers do this for a living, all day, everyday. Your property manager has the resources to advertise your property on all the major sites. Your property manager will qualify and screen prospective tenants to find you a quality tenant. Your property manager will handle maintenance 24/7. Your property manager will take legal action if necessary. All the while, you can sit back and actually enjoy the income off of your income property.
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