Owning an investment property can be rewarding. As a landlord, it affords you the opportunity to make money from a steady residential income, tax benefits, and long-term appreciation.
That said, just like any other investment, it certainly has its ups and downs. With the continued spread of the Covid-19 virus, a certain level of uncertainty has sprung up across the nation.
The impact of the Coronavirus is being felt by all businesses all around the world. In fact, according to a recent survey, more than 30% are at risk if the status quo persists for many months.
As a landlord, at a time like this, financial security and peace of mind are worth paying for. So, if you are self-managing, hiring a professional property management would make the most sense. A professional property management company has the skills and experience to help you maximize your income, even in this difficult time.
At McCaw Property Management, we pride ourselves in helping property owners achieve peace of mind since 2003. In this blog, we’ll take you through 6 good reasons why McCaw can be a valuable resource for you during this pandemic.
1. We can help you with all legal matters.
Landlords and tenants in the U.S. are governed by a long list of laws. These range from the federal to state to the local level. Knowing these laws is critical to running a successful investment. They can help not only protect you but also your investment and tenants as well.
Are you aware of what the Fair Housing Act is all about? This is one of the most important laws that every landlord in Texas should know about. Essentially, it makes it illegal for landlords to discriminate against renters based on 7 basic classes. The classes are religion, sex, disability, familial status, race, color, and national origin.
Are you also aware of the proper eviction procedure? Only a court can evict a tenant from your Texas rental property. You cannot do things like shut off common utilities, change the locks, or remove their belongings. Doing any of these is illegal.
With more than 16 years of property management experience in Texas, we’re well-versed in these and other laws. Our regular in-house training also helps us stay updated on any new changes that take place.
2. We are a professionally-run company.
We bring a lot of expertise, services, and knowledge to the table and help you reap maximum returns on your investment. In addition to being associated with NARP and REALTOR, we were an AGGIE 100 Honoree in 2018 and named the best property management company in Dallas by PropertyManagement.com in 2019.
Rest assured that we are taking all necessary actions to safeguard you from any potential losses from the effects of the Coronavirus.
3. We have an on-call team of professional contractors and handymen.
Hiring us also means that you’ll be able to tap into our professional maintenance services. We have a curated list of contractors and vendors that we have chosen for their reliability and high degrees of professionalism.
As a landlord, this saves you tremendous stress from having to find workers yourself. As you probably know, the process of doing so can sometimes be stressful.
In addition, you may also get to enjoy significant savings thanks to the volume of work we often bring to our loyal contractors.
During these trying times, it’s important that everyone helps minimize infection as much as possible. Our professionals have been trained on all the necessary safety precautions while carrying out rental repairs and maintenance.
4. McCaw can help shorten your vacancy periods.
Are you currently struggling to fill your rental vacancies? One thing is for sure: you cannot maximize your income with long vacancy cycles. To reap as much ROI as possible, you’ll need to ensure that your property is re-rented as soon as possible once a tenant leaves.
The following are some of the key strategies we employ to keep your property rented:
- Improving the aesthetic appeal of your rental property. No tenant wants to live in a run-down unit. We’ll do all the necessary repair and/or upgrades to ensure it looks attractive to any potential tenants.
- Helping you charge the right rent. The right rent amount attracts the right renter. Overcharging will only mean longer vacancies, while undercharging will mean leaving profit on the table.
- Finding desirable tenants. Landing a problematic tenant is the last thing you’d want. At McCaw property management, we’ll help find the right tenant by marketing your property to the right audience and screening all applicants thoroughly.
5. We will ensure you get paid on time, every time.
The way you handle rent collection and late payments can mean the difference between success and failure. At McCaw, we have the skills and strategies to help ensure you get paid consistently every month.
Among these strategies is making sure that your lease is as clear about rent matters as possible. For example, we’ll look to see that it’s detailed in regards to things like when rent is due, where and how it’s to be paid, the grace period, and the cost of late fees, if applicable.
When worse comes to worst, you can count on our expertise to carry out any evictions.
6. You will be able to enjoy peace of mind.
Peace of mind is freedom from the stress of rental management. Once you hand over the duties of your property to us, you won’t have to worry about things like:
- Finding and screening tenants.
- Maintaining your property
- Chasing after rent
- Legalities surrounding your rental property
- Enforcing lease rules.
Hiring McCaw PM means more freedom, less stress, and more time to do other things that are more important to you.
The Coronavirus pandemic is hitting businesses hard and fast. Luckily for you, you have the option to prevent this by hiring professionals to handle the day-to-day activities of your rental management. Call us at (817)491-2553 to learn more!