Jun 21, 2019
Becoming a landlord is a fantastic way to invest in your future, and buying property is something that many people are choosing to do. The benefits can be enormous, but it can occasionally feel like a double-edged sword.
While your investment is growing steadily in the long game, the day-to-day issues can sometimes feel overwhelming. Many landlords complain that it feels as though things in their rental properties are always breaking, and the worry of mounting costs is a real one.
Handing the job over to contractors can prove expensive, especially when there are fixes required in the kitchen and bathroom. These rooms are more than just functional; they are hubs of activity in most homes and are used to relax, socialize, pamper and bond. Unfortunately, by their very nature, the steam, heat and water present can all cause issues.
Kitchen and bathroom problems can’t be ignored, but we understand that budgets are not bottomless. So, if you want to keep your tenants happy, or attract new ones, these two rooms must be maintained and kept in good working order.
Believe it or not, you can address many of the common problems yourself, and it won’t eat too much into your time or your pocket. But as your portfolio grows, you might face with a lot of other challenges to operate the business. So the best option is to hire a property manager to take care of the day to day operations. Discuss with your property manager regularly for example,if any specific building/unit is having lot of issues then go deep down to root cause and solved it once and for all. To do that keep a record book for yourself and be as much systematized as possible.
Again in order to scale your Real Estate business you need to have a property manager and a team of support staff to run and maintain your business as smoothly as possible.