Sometimes becoming a landlord is more of an accident than the plan. Circumstances may make it difficult to sell your single-family home for a good price when you need to relocate. Or childhood memories of the historic bungalow you inherited may compel you to hold onto it, even though you don’t live nearby.
Renting out a single-family home can be a great investment in the Philadelphia. metro area. Families frequently relocate here for military posts or government-related positions that may only last a year or two. That brings demand for family-friendly properties among very well-qualified renters.
But caring for your rental property, following all required laws and regulations, and ensuring you earn enough to cover the expenses of ownership (or earn a profit) takes time and know-how. Distance, a lack of information and life circumstances can all get in the way of being successful.
Dealing with tenant showings, overseeing maintenance work and monitoring the condition of your home is quite a challenge from far away. Onyx Management Group professional property management can save you time, money and frustration by finding qualified tenants quickly, handling their complaints, responding to emergencies, solving maintenance issues and ensuring that the rent is paid on time. The money you’ll save on transportation alone could offset the reasonable management fee.
There is more to being a property manager than being handy. And learning as you go can lead to lost income or cause costly problems. If your home isn’t ready to rent or priced properly, lengthy vacancies mean months of paying the mortgage, insurance, utilities and other expenses without income to offset them. Being a landlord also comes with a slew of legal requirements, and not knowing the laws can lead to fines or even discrimination charges related to Fair Housing laws. Experts in professional property management can help you avoid both headaches and serious problems.
If you have a full-time job and a family or other commitments, managing your rental home can take precious time you don’t have. Hiring a property management company to take care of the details and hassles ensures your home will be well cared for and frees you up to focus on your priorities and enjoy your free time. As your partner, Onyx Management Group will put its property management expertise, professionalism and top service to work to protect and enhance your real estate investment