Buying a second home as an investment is a great idea, as the price of property only moves one way in the longer term and that is upwards. And, of course, all the while you own it you can enjoy a second income from renting it out, so it’s the best of both worlds.
However, while the rental income is nice, with it comes the problem of managing the property. Things can always go wrong.
First, of course, you have to find a tenant, and while there are plenty of them about you want to find a tenant who pays the rent and pays it on time every month. Whatever else you do you need to run a background check, because you might not want to rent to a tenant with a criminal record. You may also not want to rent to a registered sex offender. Sex offenders are not protected under the Fair Housing Act, so you can reject a sex offender with no fear of legal retribution.
Equally, you might not want to let your property to someone with a record of changing jobs frequently, since a tenant who loses a job may be unable to pay your rent on time. Someone who moves home often may also cause a problem. However, it should be noted that there may be legitimate reasons for this, as relationships can end, someone may have to move for work reasons, or they could have just fallen on hard times. However, you do need to ask further questions if these red flags show up.
Things Can Go Wrong with Property Management Even in McKinney
Once you have a tenant installed, there are often things which can go wrong and need attention. The sewers could get blocked, a light switch get broken, there could be an invasion of termites. Sometimes things can wait for a day or two, but blocked sewers and termites need immediate attention. This is all hassle that you can do without, as you just want to sit back and collect your rent check every month.
This is why you need North Texas Property Management for rental property management in McKinney, Texas. When you use us, you do just sit back and collect the rent, because we do all the other work for you. We make rental property management McKinney easy. We specialise in looking after landlords who only have one property to rent, or perhaps three or four, as opposed to other property management companies that only want to handle multi-unit properties and landlords with a large inventory.
So if you need rental property management McKinney come and talk to us and we’ll take all the work off your hands.