Is DIY Management Ever a Good Idea?
Many property owners feel reluctant to pay for a professional property manager, thinking it would save money to handle their property needs solo. Before you jump in feet first and hope for the best, it’s important to understand all of the responsibilities that come with managing a rental unit. This will allow you to make an informed decision about what will work best for your unique situation.
Finding the Right Tenants
The right tenants make a huge difference when it comes to your rental properties. With bad renters in place, you could find yourself dealing with a long list of nightmares: unpaid rent, property damage, and more! To keep this from happening, you’ll need to connect with interested applicants in California, and then screen your rental applications thoroughly.
Many landlords don’t even know how to start searching for tenants. At Keyrenter, we create digital listings for every property we represent, and we syndicate our availabilities across a number of real estate sites. We also use traditional advertising methods to connect with the largest audience possible. After we begin receiving applications, we use our rigorous 13-step screening process to separate good candidates from the bad.
Handling Maintenance Problems
Landlords who want to take care of maintenance issues need to be skilled handymen. From repairing HVAC systems to fixing plumbing problems, the average rental home needs plenty of attention over the course of its lifetime. If a particular challenge requires speciality expertise, you’ll need to negotiate with local contractors to provide the service for you.
Of course, maintenance issues don’t only arise during “business” hours. We often receive phone calls in the middle of the night and on weekends, when emergencies occur in a property we manage. If you choose to manage your property on your own, you’ll need to stay on call around the clock—and if you feel like taking a vacation, you’ll need to find someone to take over.
Arranging Your Financial Affairs
Turning a profit is always the goal for landlords, but a lot of effort goes into keeping your financial affairs in top shape. From sending out rent bills to processing incoming payments each month, you’ll need to pay close attention to the monetary matters of your portfolio. You will also need to careful manage security deposits, document expenses for tax purposes, and follow up with tenants who are behind on their rent.
Don’t let your finances spiral out of control, or you could be facing a massive headache.
Still Thinking about DIY Management?
If you feel comfortable marketing your property, screening tenants, answering maintenance calls, and handling all of the finances for your rental portfolio, you might be the right candidate for DIY management. At the end of the day, property management takes a lot of work. If you’re ready for that commitment and have the time and energy to spare, you may not need a property manager.
For everybody else, professional property management simply makes sense. By choosing Keyrenter, you’ll benefit from an affordable alternative that will help you save money, time, and stress. Ready to learn more? Call us today to get started: (956) 257-9900
Carl is excellent in assisting with all related matters. Starting from our move, to immediate attention issues and even minor details (like the lawn people mowed my welcome mat), Carl has been able to handle each issue with the attention necessary to keep a tenant happy.
Ruby S., Satisfied Client
Carl is very genuine helpful person. Called him regarding feedback on property and location. He was very helpful giving me all the details including ways to maximise my investment returns. He has good insights on the area and location.
Chaithra K., Satisfied Client
I was making a big move from North to South Texas! I needed a place quick! Keyrenters got me in an apartment literally from one day to the next! Great customer service so I'll definitely be working with them again in the future.
Lorenzo R., Satisfied Client
Carl did a great job showing the home, we were sold! He responded immediately to several needs that we had and helped make the transition into our home as smooth as possible. He demonstrated a helpful, enthusiastic attitude which made our new start very comfortable.
Teo R., Satisfied Tenant
PROVEN AND TRUSTED