Real Property Management Southwest Michigan Blog

Communication is critical to the effective management of your rental property. When you’re looking for a management company, make sure you get an idea of how they will communicate with you.

An accidental landlord is someone who finds themselves with a rental property unintentionally. It’s possible you’ve inherited a home from a loved one, or you’re moving out of the property you’ve been living in and you can’t seem to sell it for the price you want, so you’re thinking about renting it out.

Before you hand the keys to one of your largest investments over to a perfect stranger, you want to make sure you know a little something about the person who is moving in. A background check is a standard part of any leasing process, and most prospective tenants expect that you’ll be digging around into their financial, employment, criminal, and rental histories.

When you’re an investor living out of state, you need a local property management company that will be responsive, thorough, and able to share information with you transparently and accurately. When you have an investment home in Southwest Michigan but you live somewhere else, there are a few things that are absolutely critical in ensuring the success of your investment.

Renting out a property in Southwest Michigan requires an attention to maintenance. You’ll need to take care of routine maintenance issues such as toilets that won’t flush and garbage disposals that get stuck. You’ll also need to be prepared for emergency maintenance. Tenants will call in the middle of the night or over the weekend to report a water heater has burst or a tree has fallen through the roof.

Property managers are responsible for the day-to-day tasks of managing your home, placing a tenant, and collecting rent. The details take a lot of time. You want to work with a company that also understands and embraces your investment goals and helps you earn more ROI on your rental property.

Perhaps you’ve been a landlord for a few years, and you’ve had your fair share of terrible tenants, surprise lawsuits, and unexpected property damage. Or, maybe you’re thinking about renting out your home but you’re worried about all the horror stories you’ve heard about renters who don’t pay, pets that tear apart homes, and nightmares with fair housing laws and other regulatory hurdles.

Whether you’re moving out of your home to a new home or you’re relocating out of the area, selling the house you’re currently living in is only one of your options. Many homeowners find that renting out their property is a better idea. This may be especially true if you don’t think you’ll get the asking price you want, or if you plan to come back in a few years and you want to hold onto the asset.

Investing in real estate comes with a lot of potential to build wealth, but it also comes with a lot of risk. To increase your ROI and ensure you have a pleasant and profitable investment experience, make sure you’re prepared. Make sure you know how to evaluate potential real estate investments so you don’t find yourself making hasty or poor decisions on the types of homes you buy.