Have you started pulling your hair out over all the new responsibilities now unexpectedly on your plate? As an accidental landlord, it's normal to experience stress.
Unfortunately, an alarming number of American adults say stress impacts their daily functioning. Nearly 30% say most days they're so stressed that they can't function.
Instead of letting the stress get to you, request landlord advice. Read on for the signs you need landlord rescue services today!
You're an Accidental Landlord
As an accidental landlord, you're now responsible for:
- Marketing
- Tenant screening
- Rent collection
- Property maintenance
- Accounting and financial reporting
- Evictions
- Property inspections
- Legal compliance
Navigating these new responsibilities can become stressful and time-consuming. If you're new to owning properties, you also need to consider local laws and regulations. Neglecting to keep track of legal changes can lead to fines.
Hiring a property management company will allow you to rest easy. They can handle these stressful tasks, lowering your stress levels in the process. You'll have peace of mind knowing a responsible team is taking care of your investment property.
High Vacancy Rates
You won't generate revenue while your investment property sits vacant. The rental vacancy rate in the US is already over 6%. If high vacancy rates are causing your landlord stress, request landlord rescue services.
An experienced property management company will develop a marketing strategy to help you reach Greenville renters. They'll ensure your property stands out from others online.
Generating more traffic to your listing can increase applicants. The best rental management company will also screen tenants. Tenant screening services will help you avoid renters who:
- Pay late
- Cause property damage
- Upset neighbors
- Neglect to schedule maintenance
- Break your rules
- Cause you additional stress
Instead, you can choose renters you can trust.
Low Rental Income
As a new landlord, setting the right rental rate is key to your success. Setting the rent too high could scare away tenants. Setting the rate too low, on the other hand, can reduce your rental income.
Consult an experienced rental management company. They'll create a rental analysis to determine the ideal rental rate for your property. Setting a competitive rate can help you attract tenants while maximizing your rental income.
Tenant Issues
Remember, neglecting to screen tenants can lead to landlord stress. If you're neglecting your tenants, however, they could get frustrated. Your property management company can use a tenant portal to streamline communications.
They can interact with renters on your behalf to make sure everyone is happy. Improving satisfaction rates can lead to more lease renewals.
Request Landlord Rescue Services Today
As an accidental landlord, navigating this unfamiliar terrain can get stressful fast. You don't have to do it all alone. Instead, request landlord rescue services from an experienced property management company.
PMI Upstate SC is the number one property management company in the country. We use state-of-the-art technology and award-winning services to ensure your success. We have the prestigious awards to prove it!
We can help manage your Greenville rental property and stress. Contact us today to find a skilled Greenville residential property manager.
