Many Colorado people like you have considered investing in residential real estate, but are not sure they want to deal with all the negative aspects of the job. If we’re being honest, it’s not all fun and games, and there are times you really have to be the bad guy. For that reason alone, many people decide they don’t want to go down that road. If some of these scenarios come to your mind as situations you don’t want to deal with, you’re absolutely correct that they do happen, but there is a solution.
- Asking for prospective tenant’s personal information. To make sure you have a responsible renter, you need to ask for information pertaining to credit history, background checks, employment, and even information such as whether the person owes child support.
- Collecting rent. In a perfect world, tenants would pay their rent, in full, on time, every month. In case you’re wondering, this isn’t a perfect world.
- Enforcing the lease. Whether you suspect a renter has a pet that isn’t allowed, or isn’t keeping the agreed-upon quiet hours, sometimes you have to confront a tenant about these situations.
- Maintenance needs. Getting a call in the middle of the night about a clogged toilet or a leaking roof is never fun. Sometimes you have to deal with it, and sometimes you have to determine that the problem is more than just normal wear-and-tear, and let the renters know they are responsible for it.
- Evictions. While it hopefully doesn’t happen often, once in a while you might get a bad egg that won’t pay the rent, and won’t leave, which leaves you no choice but to go to court to evict them.
If you are a person who doesn’t like conflict and isn’t very assertive, you may have decided against investing in real estate, but when you hire a property management company, you can let them do the dirty work while you enjoy the benefits of your investment.
In the Aurora area, Legacy Properties-PM takes care of all these situations and more, so there’s no need to worry about it. If you’d like to invest in real estate, but want someone else to take care of these types of tasks, read our Property Management FAQ, call 720 989 1996, or contact us.