by Barker Realty, Inc. | Jun 18, 2024 | Apex Investment Property, Apex Property Management, Barker Realty, Tips for Property Investors
Operational Benefits of Hiring a Property Manager
One of the key benefits of hiring a property manager for your investment property in Apex, NC is the operational expertise they bring to the table. Property managers are experienced professionals who are well-versed in handling all aspects of property management, from finding and screening tenants to handling maintenance and repairs. By entrusting your property to a property manager, you can rest assured that your investment is in good hands and being managed efficiently and effectively.
Financial Benefits of Hiring a Property Manager
Another significant benefit of hiring a property manager is the potential for financial savings and increased revenue. Property managers have a keen understanding of the local rental market and can help you set the optimal rental price for your property. They can also help you minimize vacancies and maximize rental income by finding and retaining high-quality tenants. Additionally, property managers can handle rent collection and ensure that your property is well-maintained, which can help prevent costly damage and repairs in the long run.
Peace of Mind Benefits of Hiring a Property Manager
Perhaps the most valuable benefit of hiring a property manager is the peace of mind that comes with knowing that your investment property is being properly cared for. Property managers handle all aspects of property management, from marketing and leasing to maintenance and tenant relations, allowing you to focus on other priorities in your life. With a property manager in place, you can rest easy knowing that your investment is being well-maintained and protected, giving you the freedom to enjoy the benefits of property ownership without the stress and hassle of managing it yourself.
In conclusion, hiring a property manager for your investment property in Apex, NC can provide a wide range of benefits, from operational expertise to financial savings to peace of mind. If you are looking to optimize the performance of your investment property and enjoy a stress-free property ownership experience, consider hiring a property manager to help you achieve your goals.
by Barker Realty, Inc. | Jul 25, 2023 | Apex Property Management, Cary Property Management, Raleigh Property Management, Tips for Property Investors
Are you considering investing in rental properties? If so, you are taking a smart step towards financial security. However, managing rental properties can be a challenge, especially for new landlords. One solution to this is hiring a property management company. Not convinced? Here are some insights from expert property managers that may change your mind.
Insights from Expert Property Managers: Tips for Successful Rental Property Management
According to seasoned property managers, one of the most critical aspects of managing rental properties is keeping tenants satisfied. Happy tenants are more likely to stay longer, which means less vacancy and more income for landlords. Property managers achieve this by responding quickly to tenant complaints and fixing maintenance issues promptly.
In addition to this, property managers perform a thorough background check on prospective tenants. This includes assessing their credit score, rental history, and employment history. By doing this, property managers ensure that they rent to reliable tenants who will pay their rent on time and take care of the property.
Additional Tips from Connoisseurs of Property Management: Efficient Techniques for Trouble-free Management of Rental Properties
Another challenge that property managers face is managing the collection of rent. Late payments can create cash flow issues and disrupt the landlord’s finances. To avoid this, property managers send rent reminders to tenants and enforce late payment penalties. In the worst-case scenario, property managers take legal action against tenants who fail to pay rent.
Property managers also ensure that properties are always in good shape. They conduct regular property inspections and schedule maintenance repairs as needed. This ensures that the properties remain in good condition, reducing the need for costly repairs in the future. Additionally, property managers make sure that they comply with building codes and regulations.
Continuing Your Education in Rental Property Management: Advanced Techniques from our Accomplished Property Managers
Experienced property managers agree that continued education is necessary for success in property management. This involves attending seminars, webinars, and other training sessions that provide updated information and insights on property management practices.
Additionally, property managers should always look for ways to improve their services and remain competitive in the industry. This includes using technology to streamline property management tasks, offering online rent payment options, and using social media to market properties.
In conclusion, hiring a property management company can save landlords time and money and provide peace of mind. Expert property managers have the knowledge and experience to ensure that rental properties are well-managed, tenants are happy, and landlords receive a steady income. By following their tips and strategies, landlords can enjoy hassle-free rental property management.
by Barker Realty, Inc. | Jun 6, 2023 | Apex Investment Property, Apex Property Management, Local Property Management, Tenant Acquisition, Tips for Landlords
Rental season is a challenging time for property managers as there are many things that can make it difficult for a property management company to fill the vacancies. More millennials are starting to buy homes. Occupancy rates are also starting to decrease. Fortunately, there are many seasonal leasing tips that will make it easier and our team wanted to share a few.
Show off Your Rentals
It is estimated that half of the US population use their mobile phones in order to find a place to rent. That is why it is important to make sure that your website is optimized for mobile use. You also need to make sure that you put your rental listings in the right place, there are good pictures and amenities are listed to enhance the property.
Follow Up With Them Quickly
Most renters want to get information about a property as quickly as possible. When someone inquires about the property, you will need to follow up with them as soon as possible. Barker has an efficient system in place to follow-up with all potential tenants and answers the numerous questions they may have.
Screen Your Tenants
Bad tenants can create a nightmare for a property management company, which is why you will need to thoroughly-screen them. Do a background check, credit check and have them fill out an application. Barker has a strong lease agreement and thoroughly vets each and every applicant.
Effortless Conversions
You want to get your new tenants moved in without having to go through additional paperwork. A streamlined process will make things a lot easier for you. Barker allows for online lease signing, has a new tenant checklist and even offers a moving assistance service called Updater for our residents.
Make Your Renters Happy
If your renters are happy, then it is likely that they will stick with you for a long time. It is also easier to retain tenants than attract new ones. You can make your tenants happy by addressing their problems and concerns quickly. You may also want to give them a renewal incentive.
If you need help from our property managers in Apex, feel free to contact us for more information.
by Barker Realty, Inc. | May 9, 2023 | Apex Investment Property, Apex Property Management, Tenant Acquisition, Tips for Landlords
For property owners in the Apex area, investing in real estate properties can be a great option. However, for those investments to be successful, you will need to keep them occupied. There are certain times of the year that can be very busy with renters. To ensure you do as well as possible, there are seasonal leasing tips that should be followed.
Showcase Your Property
One of the best seasonal leasing tips to follow would be to showcase your property. Many property owners make the mistake of not showing off their investment enough. If you want your homes to lease quickly, host open houses and make them look as attractive as possible inside and out.
Follow Up
When working with our experienced property managers in Apex, you also want to make sure you follow up with potential tenants quickly. Property managers should be able to show units to prospective tenants, answer follow-up questions, and doing a variety of other things to make sure that prospects are interested in the property.
Screen Tenants
It is important that applicants are screened properly. Run a full background check that includes running credit reports, criminal background checks, income verification, and referrals from current and previous landlords. This will help you in obtaining a quality tenant.
Provide Good Service
Ultimately, for your investment to perform well, you will need to provide good service. By working with our Apex property management company, you will be able to develop a plan and protocol for dealing with tenants and ensuring their needs are met. Satisfied tenants are more likely to stay longterm, which will reduce your turnover. It will also improve your reputation in the marketplace, which will make it easier to lease properties in the future.
Barker Realty is trained and skilled at managing these details. If you are interested in learning more about our services and letting us manage the details of your Apex investment property please contact us today!
by Barker Realty, Inc. | Aug 9, 2022 | Apex Investment Property, Apex Property Management, Featured Article, Property Management Blog, Tips for Property Investors
Many people have a lot of rental property questions and there are a lot of myths about renting, which our Apex property management company would like to clear up and dispel your concerns.
Myth 1: You are Throwing Away Money
Fact: Many people think that because you will not build equity by renting, you are wasting money. However, renting does not waste any money. In fact, our property managers in Apex can help you save money. The cost of maintenance is included in renting.
It may not be a good idea for you to buy a home right now. For example, if you do not have enough money saved up for a down payment, then it is best for you to rent. It may also be a bad idea to buy if you live in a bad housing market.
Myth 2: You Cannot Negotiate With a Apex Property Management Company
Fact: Many people think that landlords have all of the power. However, you have more negotiating power than you think. The most important thing that you can do is read through your entire lease and if there are terms than you want to negotiate, then you have every right to openly discuss these items with your landlord or property management company.
Myth 3: It is Hard to Get Out of Your Lease
Fact: It is not a good idea to sign a long-term lease if you know that you will have to move. However, unexpected things can come up in your life. For example, your roommate may move out. You may also have to move because of a job. You may have health issues. The list goes on.
If you have to move, then you will need to let your landlord know as soon as possible. You may be able to sublet your place. You may have to pay fees, but there is always a way out of your lease and we always recommend to be as open and honest as possible with your landlord or property management company, so you can collectively come up with a solution.
If you have any rental property questions, give Barker Realty a call today. We have property managers in Apex, Cary, Raleigh and throughout the whole Triangle region.
by Barker Realty, Inc. | Jun 22, 2018 | Apex Investment Property, Apex Property Management, Featured Article, Taxes & Financing, Tips for Property Investors
This is the age old question!
Rental property management can be a lucrative profession and we get asked this question all the time. It is easy for you to make money from rental properties, but that all hinges on many factors to determine how much money you can make renting your property in Raleigh.
Calculate Your Income
The first thing that you will need to do is calculate your monthly income. You do this by multiplying the monthly rent by the number of houses or apartments that are being rented. For example, you charge $1,000 in rent and you own 3 properties, you will bring in $3,000 per month from the rent.
Calculate Your Expenses
You will have to calculate your expenses in order to make money from rental properties. Insurance, taxes, mortgage payments and a management fee to your management company are some of the expenses that you will have to take into consideration. You will also have to consider the cost of maintenance and other expenses, such as utilities and landscaping while vacant, capital improvements needed over the years, etc. Additionally, if you are a member of the HOA, then you will have to include those fees as well.
Total the Results
The money that you have left over, after you cover all of your expenses, will be your profit. Ideally, you should not only have enough money to cover your costs, but you should also have money left over that can come back to you directly to reinvest or save. If your expenses are making it difficult for you to make ends meet, then you may have to raise the price of the rent or find ways to trim your expenses. For example, you may want to shop around for a different insurance provider or other contractors potentially hired to help with upkeep on your property.
If you are looking for a Raleigh property management company that can handle your investment properties or you just want to speak with someone about your potential opportunity to rent your home or condo or building, then give our Raleigh property managers a call today.
