Have you ever wondered what the advantages are of hiring a professional property manager?
When a property manager is hired, the property owner or landlord can rest easy, knowing that they have a property management company working for them. The owner does not have to be concerned about marketing for and screening tenants, and they do not have to worry about daily maintenance issues. This frees up the owner to deal with their own business or hobbies and provides a buffer between them an their tenants.
Another advantage of working with a property management company is that the property manager takes on the responsibility of monitoring & maintaining occupancy levels and choosing the right tenants. Also, the property manager can handle the administrative functions of the property and make sure that the occupancy is high.
A good property manager will be a salesperson--able to persuade potential residents/tenants and buyers and have strong marketing skills to find the right people and/or businesses. A property manager will also make themselves available to handle building inspections, property insurance matters, maintenance requests, and showings.
A primary function of the property manager is to handle the finances and make sure residents pay and submit their rent payments on time. They are also involved with managing the finances and budget of that specific property. All insurance paperwork, taxes, billing, and scheduling of property bills can be the responsibility of a property management company, as can the ordering and maintaining supplies and equipment and collecting payments from the tenants.
Property managers can also supervise maintenance and cleaning crews, coordinate marketing and advertising efforts and know exactly the right time to bring in new tenants. In short, a property manager can take care of everything that you would need as a property owner, and do so effectively and efficiently.
Let us know if you are interested in learning more about property management or how Kuester would be able to help you market and manage your Carolina property.
Showing posts with label Charlotte Property Management. Show all posts
Showing posts with label Charlotte Property Management. Show all posts
What you should know - Investing in property
To many, being an investment property owner is the best way to financial freedom. Owning real estate can certainly create and build wealth. However, owning investment property is not something that comes without work. Finding the best property, negotiating the contract, and then finding tenants and managing the property are all obvious tasks, but the most important things... are Time and Money. Managing these are the hardest jobs in investment property!
Before you get started – there are a two things you should know:
Time is of the Essence:
Do you plan to own the property for a long time, or turn it around quickly? These are important questions when trying to figure out what upgrades and improvements should be done. Also, you can expect that if you do own the property for 5-10 years, or longer, that there will be a new roof that needs to be put on, or a furnace that needs to be replaced. Your investment will need continual investing to keep it in top condition—but if you are only planning on hanging on to it for a year or two, you won’t want to sink money into unneeded expenses that you won’t be able to recoup.
Time is also important as you time the purchase and sale of the property, and balancing that against your needs, situation and the property you are looking for. Timing your sale or purchase is tricky, and that is where having a commercial real estate company on your site can make or break the investment. You don’t want to pay too much when you buy, nor do you want to wait too long when you are ready to sell. Timing can be your best friend or your worst enemy.
Money. Money. Money.
Having money on hand and a great credit situation is imperative for investment property owners. Besides having the cash to buy the property, having the monies available to make repairs and manage emergencies is important.
Work with you financial advisor to determine the property amount of cash vs. loans that you will need to get the right mix for your expenses as well as what you will need to make your payments and still have what you need “just in case.”
You also should make sure you can save enough for retirement and other long-term goals before making the investment. Property ownership is not a sure bet, so it is important to not put all your eggs in one basket!
Property Manager
Kuester Property Management
Charlotte, North Carolina
Before you get started – there are a two things you should know:
Time is of the Essence:
Do you plan to own the property for a long time, or turn it around quickly? These are important questions when trying to figure out what upgrades and improvements should be done. Also, you can expect that if you do own the property for 5-10 years, or longer, that there will be a new roof that needs to be put on, or a furnace that needs to be replaced. Your investment will need continual investing to keep it in top condition—but if you are only planning on hanging on to it for a year or two, you won’t want to sink money into unneeded expenses that you won’t be able to recoup.
Time is also important as you time the purchase and sale of the property, and balancing that against your needs, situation and the property you are looking for. Timing your sale or purchase is tricky, and that is where having a commercial real estate company on your site can make or break the investment. You don’t want to pay too much when you buy, nor do you want to wait too long when you are ready to sell. Timing can be your best friend or your worst enemy.
Money. Money. Money.
Having money on hand and a great credit situation is imperative for investment property owners. Besides having the cash to buy the property, having the monies available to make repairs and manage emergencies is important.
Work with you financial advisor to determine the property amount of cash vs. loans that you will need to get the right mix for your expenses as well as what you will need to make your payments and still have what you need “just in case.”
You also should make sure you can save enough for retirement and other long-term goals before making the investment. Property ownership is not a sure bet, so it is important to not put all your eggs in one basket!
Property Manager
Kuester Property Management
Charlotte, North Carolina
Why You Hire A Property Manager
If you can afford one, you buy a dishwasher...saves time, gets those dishes spotless, and certainly makes most people’s lives happier.
Same with a snow blower, washer and dryer, or microwave. All labor saving devices.
People or services can be labor saving devices too. Cleaning people, delivery persons, gardeners, handy-men…All these people perform functions that we could do – but choose to outsource to save us time and frustration.
Some people we turn to provide services that we (theoretically) could do, but prefer to have in the hands of experts. Accountants handle our taxes, plumbers take care of our pipes, pastry chefs provide us with deserts, and thank heavens for those general contractors who help us with numerous projects around our property.
So whether you own one or two rental units, regardless if they are commercial lots or retail units, are you using a property manager? Why not? Unless you really enjoy all the time you are spending dealing with the tenants? Maybe endless landscaping and snow-shoveling is your cup of tea? Or perhaps chasing after rent or trying to even rent property is your idea of a relaxing weekend!
We might sound flip, but it is the truth. Property management is a rewarding and enjoyable job for many people. But for many other people, it is a time-consuming means to an end. If you don’t really love the day-to-day operations required in maintaining your investment property, then maybe you want to look into getting a property management agency.
Property management firms are affordable, reliable, and dependable resources for big and small property owners. If you want to free up some of your time to enjoy life, but still want to make sure that your tenants and property is managed – its an incredible solution.
Same with a snow blower, washer and dryer, or microwave. All labor saving devices.
People or services can be labor saving devices too. Cleaning people, delivery persons, gardeners, handy-men…All these people perform functions that we could do – but choose to outsource to save us time and frustration.
Some people we turn to provide services that we (theoretically) could do, but prefer to have in the hands of experts. Accountants handle our taxes, plumbers take care of our pipes, pastry chefs provide us with deserts, and thank heavens for those general contractors who help us with numerous projects around our property.
So whether you own one or two rental units, regardless if they are commercial lots or retail units, are you using a property manager? Why not? Unless you really enjoy all the time you are spending dealing with the tenants? Maybe endless landscaping and snow-shoveling is your cup of tea? Or perhaps chasing after rent or trying to even rent property is your idea of a relaxing weekend!
We might sound flip, but it is the truth. Property management is a rewarding and enjoyable job for many people. But for many other people, it is a time-consuming means to an end. If you don’t really love the day-to-day operations required in maintaining your investment property, then maybe you want to look into getting a property management agency.
Property management firms are affordable, reliable, and dependable resources for big and small property owners. If you want to free up some of your time to enjoy life, but still want to make sure that your tenants and property is managed – its an incredible solution.
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