Over the summer, My San Antonio reported on an exciting shift in the San Antonio real estate market. For the first time in years, property prices dropped and inventory rose, giving investors a chance to expand their portfolios.
Now, we're talking to a whole new group of landlords who aren't sure they want to be landlords. They want to earn a steady rental income without the work.
That's where turnkey property management comes in handy. Read on for five reasons to hire property management services in San Antonio.
1. Legal Compliance
San Antonio landlords need to make sure that all practices are compliant with:
- Federal laws
- Texas state laws
- San Antonio laws
For example, the Texas Attorney General requires that landlords install specific security devices in rental properties, including deadbolts and sliding door pin locks. Real estate management companies dedicate time and resources to keeping up with all relevant laws and ensuring compliance, so you don't have to worry about it.
2. Expert Marketing
Navigating legal concerns is only one portion of a landlord's responsibility. To earn a steady rental income, you need to have low vacancy rates, and that means securing reliable tenants.
Turnkey property managers not only know how to market San Antonio rental properties, but where. They can determine your target audience and reach them with minimal trial and error.
3. Maintenance Oversight
New investors often purchase rental properties with the goal of earning a passive income. They assume that they'll be able to handle their rental units on their own time, but maintenance issues will always disrupt that plan.
As a property owner, it's your responsibility to make sure that your unit is safe and livable. Rental property managers will take over maintenance oversight, planning preventative maintenance and responding to emergency maintenance calls.
4. Financial Growth
One of our best investment property tips is to outsource your accounting to an expert. When you hire a turnkey property manager, accounting services are built in.
Seeing true financial growth requires planning and foresight. Property managers can account for your fixed and estimated costs while maximizing your net income.
5. Tenant Relations
As we mentioned earlier, low vacancy rates are a must to earn rental income. The best way to avoid vacancy rates is by securing lease renewals as often as possible.
To convince tenants to sign another lease, you need to build a strong relationship with them. Property managers can improve tenant relations in large part because they're always available to address tenant concerns. When you have a reliable property manager, you gain reliable tenants.
Get Turnkey Property Management from PMI Navigate
The San Antonio rental market has gained new investors as the real estate market has tipped in favor of buyers. If you purchased a rental property but don't have the time or energy to run it full-time, your best option is to partner with turnkey property management.
PMI Navigate is the San Antonio branch of a property management company with over 20 years of experience. Our branch is run by a military veteran with a passion for San Antonio real estate. Contact us today to get started.
