There is no doubt there are many perks to owning your own investment real estate, however there are also many challenges faced as a landlord.
Let’s just say you have a really good tenant. They always pay rent on time, they take care of the house, and never throw any late-night parties.
So you make sure that everything is taken care of as far as maintenance goes, because you want to keep this tenant happy as long as possible.
The sink gets fixed whenever a faucet breaks, the water heater gets replaced whenever it goes out, and so forth. Seems like a “dream” to be a landlord at this point, right?
Well, how about that other tenant, that is a real pain in the you know what?
You do everything you can to please them, but now they’ve decided to move out. It’s time to find a new tenant!
This doesn’t sound as dreamy as the first scenario, does it?
Now there is a process that must be followed. The house needs to be marketed, it has to be shown, lease documents have to be prepared, and you have to screen the tenants.
Even though you might enjoy doing all this, I’m sure it’s more beneficial to replace that old tenant as quick as possible to avoid losing money.
So what is the best solution to this problem?
Hiring a real-estate agent just may be your answer!
Hiring an agent comes down to 3 things that make it worth your money: Time, Resources, and Turn Around.
First and foremost how much do you value your time? It takes a ton of it to answer all the emails and calls, marketing the property, and how about all the people that are just “browsing”?
By hiring an agent, it’s likely that the fee paid to them would come out less than the time you put in to do these tasks yourself.
Real Estate Agents also have access where they can add your property to the MLS ( Multiple Listing Service ). This opens it up to other brokerages, which can easily result in a quicker turn-around.
I’m not sure about you, but using sites like Craigslist can turn out to be a real headache, and think of all the riff-raff you need to filter through! It’s a greater spend of time to let someone else deal with all this.
You also have to ask yourself how long it’s going to take to get your property rented?
By hiring a real estate agent as soon as the place is available, this increases your chances that someone may move in right away.
Real Estate Agents are very well-connected, and you never know how many prospects they have waiting around who are a perfect fit for your property!
Think of all the time and money you might spend trying to complete these processes on your own. Of course, you need to do your own due diligence and find someone licensed and knowledgeable about your market.
However, these agents are out there. And once you are able to find one, you can let them handle all the issues so you can finally relax and breathe a little.