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Are You Sure You Want To Manage Your Own Property?
After 31 years in the Real Estate Business I still believe Investment Real Estate is one of the greatest investments available. Many benefits include Favorable Tax Treatment, Depreciation, Appreciation, Mortgage Pay down (amortization) by the Tenant and Hopefully, Minimal Management Headaches. Your investment property is probably one of the largest assets you own and needs to be cared for.
Managing such an asset has become quite intense with the changes in the laws over the last 20 years. Fair Housing, Environmental, Landlord/Tenant Laws, Law Suit Prone Public, Loose Attorney's, Vendor Rip Offs, Maximizing Market Rents , Minimizing Expenses and Maintaining The Asset are Just A Few of the Areas Making Management More Difficult.
I have met property owners who have been under rented for many years, have bad leases or none at all, property conditions violating codes and/or asking for a lawsuit, horrible tenants, accounting nightmares, and other issues waiting to become problems. Unfortunately many of the Tenants know the laws better than the Landlords and are just waiting to let them know.
For many of the above reasons, I advise a property owner to have a Licensed Real Estate Company with Errors and Omissions Insurance and vast knowledge and references in Management, stand between you and your Tenants. While not inexpensive to hire a property manager, I believe it is very reasonably priced to maintain your asset and possible other assets that could be endangered through litigation if the Landlord proves to be negligent in certain areas.
We would be honored to meet with you regarding your property management needs and concerns. In the meantime if you have a question regarding your rental property or a certain circumstance, please feel to call to discuss the issue.
Respectfully,
Dan Valentine, GRI, e-PR0, Broker- Owner
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