Every rental property will eventually need repairs, even if you’ve invested in a home that’s relatively new and in excellent condition. Things break down, either because of wear and tear or neglect and abuse.
The success of your investment property largely depends on how it’s managed. If you’ve decided to self-manage, you’ll need to have the time, expertise, and resources to successfully take care of the leasing, maintenance, and compliance issues involved. If you’ve decided to have it professionally managed, you’ll need to choose the right company.
Adding student rental properties to your real estate portfolio is a great way to diversify your investments and earn some extra rental income. Student housing is always in demand, and a strong pool of student tenants will always be available.
Anyone who has rented out properties or is thinking about renting out a property has likely heard at least one or two horror stories from landlords who have endured terrible experiences. These are usually dramatic tales and not as common as you might think. However, we certainly understand the fears that landlords might have as they’re preparing to rent out a property to tenants.
In Hamilton, we have the benefit of being close to several colleges. We also have a dynamic rental market with a lot of diversity. So, when investors are trying to decide what to buy, they’re often confused about whether a single-family home or a multi-family property geared towards students would be better.
Change isn’t always easy, especially when it comes to changing something as important as your property management company. However, if you aren’t seeing the results you were promised or you’re noticing a lack of communication and consistency, it might be better to switch. You need a property management company that can protect your investment and handle the day-to-day needs of the property and the tenant.