Having a “rental” is the income dream of many investors. They own a single-family house in, say, Richardson, Texas, and collect rent. That’s an income stream. The property appreciates due to the booming Richardson, Texas, economy. But what about the headaches? That’s where we come in to help with your rental property management, Richardson, TX.
The theory of rental income is great. You own a property. You let it out to someone else who pays you rent. So you have steady income. Your property grows in value, so the longer you keep it the more you could sell it for. And it increases in value far more than you could get by putting the money in a bank. And that’s it.
Except that it’s not.
Owning a rental property also has its downsides. (You knew there had to be a catch, didn’t you?).
First you have to find a tenant. That means advertising and so on. Then how do you know that the tenant you decide upon will pay the rent on time and not trash your property? You don’t.
Let’s say you get a good tenant who does pay the rent on time and doesn’t trash your property. There can still be any number of other problems, none of which is foreseeable. Apart from anything else, you have expenses, such as insuring the property, so not all the income goes into your pocket.
Then what do you do if a pipe bursts and floods the ground floor, damaging all your tenant’s belongings, and your furniture and carpets, if you let it furnished? Yes, you may be insured, but you have got to deal with all the problems that are connected with such an accident. You really don’t need those sorts of nightmare, which is why so many people who have a rental property use us for their rental property management, Richardson, TX. When something goes wrong – day or night – we are set up to deal with it.
What If Your Tenant Moves?
The ideal situation is still that we collect the rent on your behalf and simply send you a check once a month. And that might be how it works for most of the time. But then again it might not. Your tenant could decide to move, in which case you need a new tenant as quickly as possible so that you keep your rent coming in. A truck could demolish the front wall of your yard, so you’d need to get that fixed. The possibilities are endless.
This is why so many investors use our services for property management, Richardson, TX. Then they really have no worries at all and actually do just relax and collect their rent check every month, leaving the rest to us.