Is DIY Management Ever a Good Idea?
Many property owners feel reluctant to pay for a professional property manager, thinking it would save money to handle their property needs solo. Before you jump in feet first and hope for the best, it’s important to understand all of the responsibilities that come with managing a rental unit. This will allow you to make an informed decision about what will work best for your unique situation.
Finding the Right Tenants
The right tenants make a huge difference when it comes to your rental properties. With bad renters in place, you could find yourself dealing with a long list of nightmares: unpaid rent, property damage, and more! To keep this from happening, you’ll need to connect with interested applicants in Texas, and then screen your rental applications thoroughly.
Many landlords don’t even know how to start searching for tenants. At Keyrenter, we create digital listings for every property we represent, and we syndicate our availabilities across a number of real estate sites. We also use traditional advertising methods to connect with the largest audience possible. After we begin receiving applications, we use our rigorous 14-step screening process to separate good candidates from the bad.
Handling Maintenance Problems
Landlords who want to take care of maintenance issues need to be skilled handymen. From repairing HVAC systems to fixing plumbing problems, the average rental home needs plenty of attention over the course of its lifetime. If a particular challenge requires special expertise, you’ll need to negotiate with local contractors to provide the service for you.
Of course, maintenance issues don’t only arise during “business” hours. We often receive phone calls in the middle of the night and on weekends, when emergencies occur in a property we manage. If you choose to manage your property on your own, you’ll need to stay on call around the clock—and if you feel like taking a vacation, you’ll need to find someone to take over.
Arranging Your Financial Affairs
Turning a profit is always the goal for landlords, but a lot of effort goes into keeping your financial affairs in top shape. From sending out rent bills to processing incoming payments each month, you’ll need to pay close attention to the monetary matters of your portfolio. You will also need to careful manage security deposits, document expenses for tax purposes, and follow up with tenants who are behind on their rent.
Don’t let your finances spiral out of control, or you could be facing a massive headache.
Still Thinking about DIY Management?
If you feel comfortable marketing your property, screening tenants, answering maintenance calls, and handling all of the finances for your rental portfolio, you might be the right candidate for DIY management. At the end of the day, property management takes a lot of work. If you’re ready for that commitment and have the time and energy to spare, you may not need a property manager.
For everybody else, professional property management simply makes sense. By choosing Keyrenter, you’ll benefit from an affordable alternative that will help you save money, time, and stress. Ready to learn more? Call us today to get started: (512) 596-0055.
Jonathan has been very easy to work with. He's quick to respond and accommodating as we made the transition to a new home. I'd definitely recommend him!
Kristen S., Satisfied Client
Since the beginning it has been a pleasure working with Jonathan. He has always been very quick to respond to emails which is essential when it comes to property management.
Tyler M., Satisfied Client
Keyrenter was great to work with. I was hesitant to get a property manager at first, but after reading the wonderful reviews on Yelp for keyrenter specifically, I decided to go for it. Jonathan had helped me secure two tenants within a few months. Everything is very transparent and he has always been quick to emails and inquiries I've had
Charles L., Satisfied Client
Just hired Jonathan and Keyrenter to manage my home. This was a transitioning period for me, leaving my old property manager and working with him, and he made it seem so easy! He genuinely cares about your home and concerns. Found me a renter and dealt with the former property manager with ease. Couldn't be happier, looking forward to working with his company for months to come!
Chi G., Satisfied Tenant
PROVEN AND TRUSTED