If you are looking to start investing in properties, you will probably be considering buying property and then allowing it to be rented out, ensuring you get a regular income back on your investment. If this is the case, once you have bought the property, the first thing you should do is hire a good, professional property manager like John Hausam of Tulsa. Once you have hired a professional property manager you can rest assured that your income will start to come in regularly. The property manager, on your behalf, will advertise the property as being available to rent, set the rental rate and then continue to collect the rent for the length of the tenant agreement.
Apart from not having to worry about collecting rent, the owner of the property need no longer worry about the upkeep of the property as the property manager will also take care of that, seeing that all routine maintenance tasks are carried out in a timely fashion and any damages that may be caused by tenants, are paid for by the tenant responsible. The property manager merely subtracts the costs of any repairs or maintenance from the rent they collect, before paying the remainder into the owner’s account.
Before a tenant moves out of the property, the property manager will carry out a full inspection of the property, looking for any damages and also looking at the overall cleanliness of the property. We have mentioned that the outgoing tenant will have to pay for the repair of any damages but they will also have to pay for professional cleaners, if the property manager decides that the property is not being left in a high state of cleanliness. This means that almost as soon as a tenant leaves the property, any repairs are made and a cleaning crew comes in to make the property sparkling, ensuring that the property remains in the best of conditions.
Property investments can therefore assure you a regular income with the smallest amount of hassle, once you have found a professional, experienced property manager. As well as receiving a steady income from your investment, hopefully the property’s value will also go up and so when you are ready to sell that investment, you should still make a handsome profit. Any outlays of cost associated with the maintenance of the property, will have come from the rent you were due to receive and so the total cost of your investment is the amount you paid for the property. As rent is expected to be received regularly, some property investors take out mortgages on the property and allow the incoming rents to make the monthly payments on that mortgage, meaning the only outlay of money by the buyer, is the initial deposit usually required by the bank. Although property investments are not guaranteed to make profits, they are certainly more reliable at doing so than investing in the stock markets which are well known for their volatility.