There are now over 14.3 million individual real estate investors in the US, owning 19.9 million units. If you're a new landlord, navigating the complexities of your new business venture can become stressful over time. Instead of handling it alone, consider requesting landlord rescue services this year.
With help from an experienced company, you can experience investment portfolio growth without additional stress.
Not convinced they can help? Read on to discover the signs you need to hire a property manager for your Denver, CO property today!
1. You Have a Day Job
If you're an accidental landlord, it's likely you already have a day job. Becoming a property investor is a full-time job. You could experience burnout if you're juggling too many responsibilities at once.
For example, perhaps you're late in responding to tenant requests. Maybe you don't have time to brush up on local laws. If you're unable to dedicate time to your property investment, hire a management company.
Your Denver property manager can help you better manage your time. They'll ensure you don't drop the ball on your responsibilities. Allowing them to take some of the weight off your shoulders can help minimize your stress load.
2. You Own Several Properties
You may stretch yourself too thin if you own several properties. Perhaps you own other properties outside of Denver. You shouldn't have to zig-zag across the country to manage each property.
Your property management company can help you make the most of each investment.
In fact, their experience managing other Denver properties can work to your advantage. They'll have a better understanding of local housing laws. They'll also know how to attract local renters to your property.
3. Overwhelming Requests
Communicating with tenants can become overwhelming. You'll need to respond to rental property maintenance requests quickly to keep them happy. You'll also need to remain on top of late rental payments.
Otherwise, you won't generate income from your properties.
Perhaps you're having issues collecting rent. Last year, 16% of renters were behind on rent payments.
Your property manager can handle rent collection, tenant screening, and rental property repairs for you.
4. You're Unfamiliar With Laws
You could receive a fine if you're unfamiliar with fair housing or landlord/tenant laws. If you're unable to keep up with new laws, you'll encounter legal ramifications.
Your property managers in Denver will ensure you do everything by the book. With their help, you can remain informed and operate legally.
5. Marketing Struggles
Without a marketing strategy, your vacancy rates will increase. You won't generate income from your investment properties.
Look for a property management company that already has a strategy in place. They'll ensure your listings appear on social media and rental sites.
Request Landlord Rescue in Denver
You don't have to manage your Denver, CO rental property alone. Instead, request landlord rescue services. With help, you can generate income from your investment year-round.
Want to discuss your rental property with a member of our team? We're here to help you succeed.
Contact PMI Aspire now to discuss your property management needs.
