As you’re starting in the real estate industry, you dream of expanding your portfolio. In the beginning you’re probably doing everything yourself. Finding tenants, dealing with repairs, maybe even fixing them yourself. But as you grow you’ll soon run into the problem that managing your properties takes up more and more of your precious time. This is where professional real estate managers step in. These professionals can help you improve quality, lower costs and free up your time so that you can focus on growing your portfolio.
What is Real Estate Management?
Real estate management is the care taking of a property, be it rental, commercial, or residential property. A real estate management company is tasked to run the day to day activities of the property, coordinating rent collection, filing reports and handling tax operations. In some cases, managers even handle the maters of buying and selling property all on behalf of the landlord.
Every landlord needs a professional real estate manager who will handle all the necessities of the property. Real estate management is a comprehension of services that any landlord requires to think about, including:
- Feasibility study
- Finding high quality tenants
- Rent collection
- Handling all the maintenance and repairs
- Hiring quality service providers
- Handling evictions
- Filing any reports correlated with the matter and putting in order all government policies.
What to expect in real estate management?
The management fees vary depending on the location, accessibility and number of units the property has. However, expect a range of 5% to 10% of the total rent collected. You’re trading a reasonable percentage of your rental income for your peace of mind.
Recommendations to Real Estate Investors.
It is crucial to get a professional property management company. Ensure you hire a qualified manager after deciding to invest in real estate business. Do a little research around, check online reviews, ask your fellow investors or real estate agents for recommendations. Look at their proposition, screen several of them to find out if their business portfolio and model can fit your investment. Through this activity, you will get the best company to entrust your property with.
As an investor, you need to manage your time and cash flow. A good real estate manager takes a heavy load from your shoulders and this gives you a peace of mind to focus on the other business operations to increase in your cash flow!
Call Avarts Housing Limited today on +256 393 289532 or click on the blue Whatsapp icon on the bottom right of your screen.