Ways Landlords Are Wasting Their Weekends

Real estate is one of the most lucrative investments with numerous benefits ranging from tenants paying down your…

Real estate is one of the most lucrative investments with numerous benefits ranging from tenants paying down your loan to value appreciation. Unlike other asset classes that tend to be passive, it requires time and energy to get a substantial return on investment. Buying a house and getting it to tenant ready is a rigorous process that requires the landlord to acquire the right insurance, screen tenants, market the property, and follow up on monthly rent. Don't forget the conducive and favorable tax benefits of real estate ownership.

Most landlords lose the entire weekend trying to manage their properties, turning their investments into time-consuming endeavors. Here are some of the ways landlords are losing their weekends. All these can be overwhelming for one person to handle, and that's where 3 Options Realty comes in as your go-to property management company.

Tenant Screening Process

One way to guarantee a return on investment in your real estate investment is ensuring you have the right tenants. However, this involves a long application and screening process, which can be difficult if you don't have the technology and expertise to conduct a thorough screening process. Sometimes one is required to sift through numerous potential tenants, which can take hours, if not days, to find the right person. If you are not properly equipped and experienced to handle the task, it might be time you considered hiring the experts at 3 Options Realty. We have professional property managers with extensive industry knowledge and expertise to help you acquire the right tenants for your property.

Landlords Requiring Paper Checks

If you are a rental property owner, the first of the month is always a great day for your investment since rent is due. While modern means of the transaction involve a fee, it saves you the extra cost of writing letters, calling, texting, or visiting tenants trying to track down your rent. Modern payment solutions have enabled landlords to make rent payments as efficiently as possible, but if you still demand physical checks, prepare for delayed payments every month. We recommend having tenants pay through a software program or online bank, allowing them to schedule automatic payments.

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Repairs and Upkeep

The biggest time wastage activity landlords face on the weekends is dealing with repairs and routine maintenance. It is common for a house to experience regular wear and tear, requiring routine repairs on various vital parts like the plumbing, HVAC, septic system, and appliances. Although the tenant has a role in dealing with some of the maintenance, most of the work falls on the landlord. Choosing to handle these tasks on your own is a guaranteed way to waste your weekend. Rather than turning maintenance into a DIY project, we recommend working with a property management company.

Save yourself time and energy by hiring a property manager to do all the heavy lifting as you enjoy your weekend. We guarantee quality services at competitive market rates. Contact us at 3 Options Realty, and schedule an appointment with one of our property managers.