Purchasing a house is one of the biggest financial decisions a person can make. Deciding to rent that house out is one of the biggest legal and business decisions a person will make. While property investment can be a financially rewarding opportunity, making a mistake as a landlord can be costly, or even financially devastating. This risk, when managed by professionals, can be mitigated immensely. There is no reason your first home can’t be turned into an income-producing property, to better position you and your family to afford the next ten years of your family’s future.
That is why RM Properties is turning first-time homebuyers into first-time investors by handling difficult, confusing and time-consuming landlord management duties. Our professional management enhances investment properties and cash flow.
For example, consider what it takes the first-time investor to rent a vacant property. First they need rental ads — and place these ads in areas where qualified renters will see them. Then they need to respond to emails and phone calls and interview potential renters. Once good prospects are identified, they must meet with them on site and show the property.
Then there are the credit applications, pulling and reviewing the credit report, checking the references, all while complying with complex housing laws.
Finally, if everything is favorable, the lease must be prepared (again, complying with complex housing laws) and security deposit collection.
That is a lot of work — and that is before the rent checks come in. A mistake at any point in this process can be costly, in money and in time and emotional energy spent addressing the problem(s) legally.
Marketing and tenant acquisition is one way RM Properties turns home buyers into investors, but that is just the start. We manage all aspects of the tenant-landlord relationship. While collecting rent may sound easy, it can be difficult and even awkward. Collecting payments on time is crucial to maintaining cash flow.
Tenant concerns and property repairs must be addressed in a timely manner. Day-to-day maintenance and emergency situations are time consuming. RM Properties, with the investor’s permission, schedules both routine and emergency maintenance service, utilizing local, experienced, and insured contractors who provide 24-hour-a-day coverage.
We understand the multitude of applicable local and federal laws and regulations covering rental properties, helping investors avoid lawsuits and fines, and keeping your property up-to-date and in compliance with these regulations.
We allow investors to be investors. To find out how we can help you maximize your property investment, contact us today – (202) 656-2354.