The Three M’s of being a Landlord
Owning a home is necessary for a variety of reasons, such as sharing with friends, having a place of your own, or raising a family. Safety, investment, tranquility, pride, and enjoyment are more positives. As a landlord, you will be providing these benefits to those you lease to. Property management comes with the responsibility of keeping the location viable and livable. There are three main areas of worry for property management. Keeping these ideas in mind as you manage properties will make you a cut above the rest!
1. Maintenance
It’s the responsibility of every homeowner to maintain their property consistently. Filter replacement is simple to do on your own. Some tasks could call for a qualified expert, but it can be difficult to choose the "right" one. Your due diligence as a landlord is to check that all processes and work done on the property is as professional as possible. Be certain the experts you consult are the right fit for the job.
2. Minimizing
The costs and risks of property management can be decreased by spending smart. Knowing the difference between something that needs to be replaced or something that needs to be repaired is crucial. Reputable service providers at fair prices are essential for minimizing costs. Make informed decisions!
3. Managing
A crucial aspect of property management is handling debt and other financial issues. A few strategies to manage debt include refinancing at a lower interest rate or for a shorter period of time, increasing principle contributions, and so on. Risk can be decreased with homeowner insurance advice and house warranty packages.
A landlords’ genuine goal is to serve as a resource for their tenants while they are buying, selling, and all the time in-between. Maintaining and managing a consistent, strong business relationship with your tenants while minimizing risk will be key to success.
Authored by:
Mario Gonzalez
Navy to Navy Homes
4540 Southside Blvd., Ste 702
Jacksonville, FL 32216
904-900-4766
