More Tips for New Landlords

A major element that new landlords don’t realize or factor in when they plan their investment is the time commitment required to manage a building or property. At a minimum, new landlords should plan on spending 15 hours per month on whatever issues come up—and that’s not including any emergency situations. With a stellar company like Fred Leeds Property Management in your corner, you know that your investment will get way more than that minimum amount of attention.

If you have a full-time job, a family or other obligations, the type of duties that come along with property ownership can be daunting. The burden of the additional to-do list can cause lots of unnecessary stress—this is exactly why so many landlords employ Fred Leeds properties to lighten their load. If you’re a one-man show and would be managing your property yourself, it can easily be too much to handle, especially if you plan to have a personal life.

There’s also a significant learning curve for first-time property owners. Professional property managers like Fred Leeds properties have a team that specializes in tenant issues, legalities and compliance, in an effective and efficient manner. It’s all about the bottom line—if your full-time job will be managing your property, than it’s possible you don’t need to hire a South Bay property management company to take care of your beach cities investment. However, most rental properties are a side investment, and if you need to spend 15 hours a month or more, this can seriously detract from the return on your investment. Instead, for a small percentage of your rental income, you can hire professionals like Fred Leeds Property Management to handle the hassles and responsibilities associated with rentals. Now that’s protecting your investment!