Have you started pulling your hair out, stressed over everything you need to do: marketing, rent collection, property maintenance, all alone? You're not alone. About 55% of Americans feel stressed during the day, with 57% feeling paralyzed due to their stress.
In fact, 63% of US workers are ready to quit their jobs to avoid stress. With landlord rescue services, you can avoid unnecessary stress and ensure your success in the real estate industry.
Not sure if you need help from a property management company? Read on to discover the signs it's time to request help.
1. A High Tenant Turnover
If keeping tenants is a struggle, your tenant turnover rate will rise. You'll have to spend time and money:
- Marketing vacant listings
- Screening applicants
- Onboarding new tenants
If you have a high tenant turnover rate, talk to your tenants. They can provide you with helpful feedback. Their suggestions can help you make improvements to boost tenant satisfaction rates.
Happy tenants are more likely to renew their leases. Increasing lease renewals can boost your ROI. As you retain tenants, you can worry less about marketing and tenant screening.
Instead, you can keep the amazing tenants you already know and trust with your rental properties.
To avoid future landlord stress, develop a tenant screening process. Choosing reliable tenants can ensure a steady source of rental income. Screening tenants can help you avoid property damage, late payments, and disputes.
Consider hiring a property management company. They can communicate with tenants on your behalf. They'll resolve any problems before you experience additional landlord stress.
2. Overwhelming Property Maintenance
Neglecting property maintenance can cause your investment properties to crumble. In addition to scaring away potential renters, you may need to pay for more expensive repairs later. If you're overwhelmed by maintenance requests, hire a property manager.
They can use a tenant portal to track and schedule maintenance and repairs. Neglecting to complete repairs could lead to frustrated tenants. They may sue for damages to make the repairs themselves and deduct the cost from their rent.
3. A Lack of Time or Experience
If you're new to owning and renting out property, you may make mistakes while you learn the ropes. For example, you'll need to keep up with local, state, and federal housing laws and regulations. Otherwise, you'll receive a fine for failing to remain compliant.
If you lack experience, hire a property management company. They can handle everything from:
- Rent collection
- Marketing
- Evictions
- Property maintenance
- Accounting
A full-service property management company can save you valuable time. You can leverage their experience and expertise to avoid making costly mistakes.
It's Time to Request Landlord Rescue Services
Do these issues sound familiar? If so, it's time to request landlord rescue services in Savannah. An experienced property management company can step in to help.
Savannah Property Management provides services with a personal touch. Leverage our 30 years of industry experience to start keeping tenants and making more money.
Transferring your responsibilities to our team can help you avoid landlord stress. Schedule a call today to request our services!