Each year, Americans buy more than 1 .5 million homes for investment purposes. “Buy low and sell high” is the investors’ goal, but more often, it’s buy reasonably and rent well for an extended period of time to reap the bonuses of any future appreciation, current tax benefits, and inflation-indexed rental income.
“Buy, rent, and hold” is a great strategy. For some, this gets no further than theory or falls apart in practice. This leaves the would-be investor with a disappointing outcome and a bad taste for investment property. These people make the news headlines.
Now, with the increasing sophistication of property management providers, negative stories are more the exception, not the rule.
TENANT
Property management service identifies the tenant as the ultimate customer, as unhappy tenants and vacant properties mean unhappy owners and unprofitable investments.
With tens of thousands of units under management in more than 100 markets, services like
Tampa Property Management has a property that will fit the individual, family or corporate tenant.
Companies like this strive to deliver tenants responsiveness service by providing 24 hour emergency response or regular maintenance service, the ability to pay rent electronically using a tenant-focused Internet property management portal to check account balance and submit maintenance work requests. Tenants are given an intercity apartment referral program should they move to another market.
LANDLORDS, PROPERTY INVESTORS & INVESTMENT COMPANIES
For example, as a Tampa property owner, the obvious question is how do you manage this
rental property in Tampa to your benefit? The easy response is to rent it, but the successful execution of this statement means significant market knowledge, skill and effort.
There are many property management companies you could hire. They are often too numerous to perform adequate due diligence during the selection of the company to help you manage your property.
There is little in the way of predictable standards or common expectations as practices and regulations vary from market to market and state to state. There is a national property management association, but by definition it does not dictate practice standards.
Take advantage of this rigorous analysis because, if you care about standards, you will reach the same conclusion; predictable quality, national standards and singular accounting and reporting about rental asset performance. Single - family homes, duplexes and triplexes, and small apartment complexes up to 50 units, you name it.
Everything from finding tenants, conduct credit and criminal screening, deliver timely owner payments with 24/7 on-line access to accounting and financial reporting, maintenance coordination, periodic property inspections, and eviction processing.
CAREER AND BUSINESS OPPORTUNITIES
Many Americans have found themselves back in the market looking for employment or an entrepreneurial opportunity. The opportunity means back to work in a W2 job or setting out on their own.
Maybe owning a viable franchise is an alternative. The entry point is relatively inexpensive, the tools and critical mass significant. The opportunities to jump start your own business.
A successful franchisee succeeds by doing three things: finding a service that is needed, selecting and following the formula of a successful offering and then growing the business.