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Springfield, MO, is an excellent place to own investment properties thanks to its growing economy, positive employment outlook, and increasing population. Yet, simply owning a rental property isn't a sure-fire recipe for success as a landlord.
Owning rental units requires ongoing commitment, time, and hard work. For busy landlords, the benefits of having tenants in your property might not seem worth it after a while, especially if you live in another city.
When property management issues start affecting your well-being and free time, your rental business can suffer, so it's important to act as soon as you notice things turning bad.
Read on to discover the signs you need landlord rescue to save your Springfield rental business.
Prolonged Rental Unit Vacancies
There are ongoing costs associated with all rental properties, whether you have tenants in residence or not. These include:
- Mortgage payments
- Property taxes
- Insurance premiums
- Utilities
- Routine maintenance
Without rental income to cover these costs, your business will suffer and ultimately fail. Hiring a full-time property management service is the best way to ensure your rental units remain occupied and cover your costs.
These experts will help you set reasonable rent prices that cover your costs and market your properties on all the best channels to attract good tenants.
Frequent Tenant Turnovers
High tenant turnover rates are among the most frustrating rental business problems. No sooner have you become accustomed to one set of tenants than you must start the process over again.
A property management company helps to encourage lease renewals by fostering positive tenant relations and providing a range of services to ensure your tenants' comfort and convenience.
Unpaid Rents
Landlord rescue services offered by professional property managers can help you resolve issues with tenants who don't pay on time. They implement technologies, like tenant portals to facilitate convenient payments and will follow up with those who owe past due amounts.
In the worst cases, they can help you navigate the intricacies of evicting tenants for non-payment, and find you new tenants as soon as possible.
Increasing Stress and Burnout
Unpaid rent is only one of the signs of bad tenants. These tenants may also damage your property or violate your lease agreement by introducing extra residents or unauthorized pets.
Even good tenants can create stress at times, especially when they call you at all hours with maintenance or repair requests. A property manager eliminates these issues by:
- Performing regular property inspections
- Implementing a maintenance coordination schedule
Tenants can reach out via the tenant portal for prompt attention to their repair requests.
Landlord Rescue in Springfield, MO
If you're experiencing any of the above with your rental properties, you need landlord rescue fast. It's not too late to save your rental business.
Hunter Property Management is at your service when you feel overwhelmed by the responsibilities of being a landlord. We offer a full range of property management services, including rent collection, maintenance, and accounting, and are committed to providing exceptional customer service at every turn.
We are well-equipped to come to your rescue, sign up for freedom from worry, and embrace success as a Springfield landlord today.
