Managing rental property in Charlotte.
Do you have a rental property in Charlotte ? If so, they can be managed in one of two ways: directly by the landlord, or by a third party rental property management company. But what are the advantages and disadvantages of each of these, and which is the best option for you? Let’s take a look:
What are the responsibilities of a property manager/landlord?
Despite the two different titles, the responsibilities of landlords and property managers are two of the same. They include:
- Screening potential tenants
- Setting and maintaining a rental price
- Collecting rent
- Drafting and signing lease agreements
- Maintaining the property
- Responding to and repairing tenant requests
- Dealing with disputes and complains
- Handling and maintaining security deposits
Anyone who manages a rental property, be it the landlord or the property manager, is responsible for knowing, understanding, and following laws within their state and municipality. Failing to follow the laws can result in legal action.
So which option should you choose?
Being your own landlord makes sense if:
- You do not have the financial means to hire a Charlotte rental property manager
- You only rent out one or two properties, and have the time to manage them on your own
Hiring a property manager makes sense if:
- You have multiple rental properties that you cannot manage alone
- You’re too busy or having another career and don’t have time to manage properties on your own
- You rent out commercial properties
- You do not live in the same area as your rental properties.
Should you hire a Property manager?
If you own Charlotte rental houses or property, hiring a property manager can be a great choice. If you only have a few properties and have enough time to manage them on your own, you don’t have to hire a property manager, but doing so can save you time and stress. Property management companies have a streamlined way of dealing with repairs and maintenance, and can help you to deal with any difficult tenant issues that arise. In other words, you don’t have to worry about all of the stresses that come along with being a landlord when you have a property manager. If you have multiple rental properties, hiring a property manager becomes a necessity, as you will need someone by your side when the workload becomes too overwhelming.
What are you waiting for? Call a property management company in Charlotte today to learn more about how a knowledgeable professional can help you.
Resources:
- Zillow: http://www.zillow.com
- Realtor: http://www.realtor.com
- Real estate marketing
