Real estate has historically been a great all around investment. After all, there is only so much land on planet earth, and as the number of people on the planet continues to rise, that land goes up in value due to the elementary principle in economics of supply and demand. As demand rises and supplies stay the same, prices will rise to accommodate.
Many people choose real estate as part of their investment and retirement strategies as they prepare for retirement. In order to pay for their investments, they may choose to rent out their properties, which can pay the mortgage on the property and may even provide a bit of income on top. This is a fantastic way to invest in property since someone else is paying for it.
That being said, once you buy property, you have to manage it. You have to find renters who will occupy the space, you have to take care of any maintenance issues that arise, such as a broken door or fence, and you have to ensure all of the utilities are paid, the lawn is mowed, and the grass is watered. There is so much that goes into managing property that many people hire a property management company to handle all of the potential issues that might arise. But is that the right option for you?
Archer Investors specializes in 1031 Exchanges and DSTs, or Delaware Statutory Trusts. Both of these products allow you to invest in real estate in dynamic ways. 1031 Exchanges allow you to defer capital gains tax when you sell property and reinvest in more property, and DSTs allow you fractional ownership in big commercial real estate that is overseen by a trustee. Below, we’ll take a look at the advantages of hiring a property management company for your real estate investment needs, and then explore if it’s right for you. Contact us today to learn more!
BENEFITS OF A PROPERTY MANAGEMENT COMPANY
Frees Up Your Time
All of us have the same amount of hours in a day, the same number of days in a week, and the same number of weeks in a year. Between your job, the kids, taking care of your home, and errands and such, you probably don’t have much free time to spend time with the kids or do what you want. When you throw in more to-dos, such as taking care of your properties, on your list, you can cut your free time down even more. Depending on the number of properties you own and the type of renters you have, you could be spending a lot of your spare time in attending to your properties.
A professional property management company can take all of that off your plate. They will handle all of the maintenance calls for a new furnace, ensure the yard is mowed, and deal with the tenants directly, answering any questions they might have. Essentially, your job will be whittled down to the occasional question to your property manager and a bit of paperwork when your tenants leave and you need new tenants. That’s it.
Decreases Your Stress
If you get a call from a tenant in the middle of the night with a burst pipe, you’ll have to deal with it immediately, upsetting your sleep. You won’t have to worry about collecting late rent or if the sidewalk was shovelled after the last snow storm. You won’t have to deal with animal control calling you about your tenant’s dog that won’t stop barking at your property. All the hassles and headaches will go away, leaving you much less stressed. As you know, stress can lead to many health problems.
Experience and Education
Your property management company has experience in dealing with renters, code violations and compliance issues, rental rates, finding tenants, and so much more. Most likely, your property management service has personnel who are real estate agents or who have gone to school for property management or a similar field. This allows them to know the market inside and out. They are less apt to forget things that need to be taken care of, they have more experience in selecting renters, and they know the local rental laws and abide by them. You can guarantee that all of the paperwork will be in order when you partner with a property management company. They also can handle evictions expertly, which is never a fun process for anyone. They can remain impartial and are less likely to cave to renters who are behind on rent.
Puts a Level Between You and Renters
In this day and age of he said, she said, there is always the possibility of being sued for something. When you hire a property management company, you put a level of professionalism between you and the renters that is just not possible when you are renting out your property yourself. Plus, renters will be much less likely to pull a fast one on a rental company than on you. Furthermore, some renters are much more comfortable dealing with third-parties than with the owners themselves. They like the idea of not having the property owner hover over their homes, watching everything they do.
In sum, when you hire a property management company for your commercial property investments, you are hiring experts whose full-time job is managing properties. They know the ins and outs of the business that is just not possible for part-time property owners. They know how to solve problems when they arrive. They have connections with plumbers, contractors, and lawn care companies for maintenance. They understand fair housing laws and local laws. They can help retain renters better as well, helping the renters with whatever they need to make their stay in your property comfortable and convenient.
CHOOSE ARCHER INVESTORS AS YOUR PROFESSIONAL “HANDS OFF” PROPERTY MANAGEMENT TEAM
Many people are moving towards the “hands-off” approach to property management, especially older citizens who are moving towards retirement and don’t want the hassle of being on call 24/7 for their renters’ needs.
Archer Investors offers one of the best professional property management services that not only takes the management of tenants off your plate, but also focuses on increasing your property’s value. Through Delaware Statutory Trusts (DSTs), you can become a fractional owner in huge commercial property investments that also can help you when you need a 1031 Exchange. You have the potential for long-term residual income opportunities without having to be a landlord. You have one trustee making the decisions and running the property. Simply put, all you have to do is make the initial investment; that’s it. Our hand-selected properties offer the potential for higher cash flow and appreciation. We are highly-specialized, only dealing in DSTs and 1031 Exchanges, which we believe can potentially yield even greater returns and better customer service.
Archer Investors has the experience and education to take the stress off your plate, to free up your time, and to put a separation between you and your tenants. If you are looking for a professional property management company where you don’t have to worry about a thing and where you can park your money for long-term growth, reach out to us today to learn more about DSTs and how they can help you in your retirement goals and diversification needs!