So you have decided to become a property owner—good for you! It could be the best financial move you have ever made, or your worst nightmare. There is no doubt that owning rental property can provide you a steady stream of cash and help you build substantial real estate assets, but prepare yourself for the realities of ownership and management. This job is not as simple as it may seem.
How complicated can it be? Seasoned professionals can tell you that property management is very multifaceted and not for the faint at heart. It takes organization, marketing skills, knowledge of local and state laws, but most of all, people skills to make the owners property and tenant a success.
As a property owner, you are responsible for the property itself, the maintenance, the tenants, the paperwork and much more. Property owners need to know how to be an advertiser when searching for new tenants, a host when showing properties, an investigator when doing tenant screenings and background checks, a repair person when making repairs, a cleaning person before and after a tenant moves in, a bookkeeper when maintaining tenants’ records and a diplomat when dealing with problem tenants.
Though much of this can seem overwhelming, NeX-Gen Partners Property Management, LLC will handle these responsibilities for you so can continue to invest in rental properties without the day-to-day hassles of being a property manager!
Though many of life’s lessons are learned by trial and error, owning investment property should not be one of them. The mistakes are too costly and the legal downsides too significant!!
NeX-Gen Partners will show you how it is done!