It's estimated that 10.6 million Americans are able to earn an income from rental properties. This means that there is a large percentage of people becoming landlords.
Going into property management can be a very lucrative career choice. You don’t even have to be part of a property management company; you can do this all on your own.
A landlord has the freedom to buy properties and rent them to generate a dependable income. It gives you more financial freedom, and many landlords make well above middle-class wages.
Keep reading to find out how landlords may be wasting their time on the weekend.
Tenant Screening
If you are a landlord, you most likely have to do tenant screening for your properties. This process is very important because it verifies people before you do business with them.
The screening process includes looking into their background for anything concerning. This could be a criminal background or issues with their past rental history.
Screening is very important, but it can be time-consuming as well. Hiring a company like Carolina Property Management can help to do this for you.
Property Repairs
Handling small repairs around your property is part of a property manager's job. The downside to this is that it can be time-consuming and requires you to work on the weekend.
There is no knowing when maintenance will come up for your properties. That is why it is so important to have something in place that takes care of this for you.
Collecting Rent
The process of collecting rent is something that most landlords dread. Any landlord guide is going to give you clear instructions on how you should do this.
Collecting rent can be time-consuming, and you may have to work on the weekends. That is why it is best to have a company do this for you, so that you always get the rent you are owed.
Tracking Finances
Many landlords have to set aside time to track their finances. This usually includes looking back at monthly reports to check for any discrepancies.
With everything else you have to manage, this can take up all of your free time. It can really waste time if you notice issues and have to backtrack to figure out what has happened.
It is much easier to have a company handle this for you so that everything is fully automated online. This prevents mistakes from happening and keeps all your data in one place.
Common Areas Where Landlords Waste Time
Landlords are notorious for wasting precious time and doing small tasks. Property management is no joke and is going to require a multitude of jobs that you have to stay on top of.
Do you want to automate the process of being a landlord, so you have more free time? Contact us today at Carolina Property Management for tenant screening and maintenance services.
