Being a property investor and owning rental properties allows you to set yourself on the path to financial freedom. However, managing your own rental property can quickly become a second job. Tenant issues, from collecting rental payments to maintenance calls at all hours, can mean investors who run their own properties can become overwhelmed. If you are feeling this, then it’s time to opt for property rental management.
We’ll explore the headaches of DIY property management. With IGrow Rentals, we’ll give you peace of mind by running things smoothly on your behalf and ensuring your property investments show returns and deliver truly passive income.
The unseen struggles tied to managing rental properties
When you first set out managing your rental properties, things may appear easy. You could feel like you are saving money and it’s all worth it. However, if you sit down and assess personal property management, you will discover that you spend hours screening tenants, drawing up Lease Agreements, organising maintenance and staying on top of legal compliance. Just learning how to do these things can take up a ton of time!
What starts off as a passive income stream can easily turn into a full-time job. This rings true, even more so if you own multiple properties within your property portfolio.
The emotionally taxing implications of managing your own rental property
If you are managing your own rental property or properties, it can be very taxing, emotionally. You may receive a tenant phone call at inconvenient times where they report anything from a leaking tap to noisy neighbours. Their stress and anxiety becomes yours. You need to resolve conflict, handle rental arrears collection, and maintenance collection in-between other everyday commitments.
This can take a toll and lead to feeling overwhelmed or drained. Instead of enjoying your properties’ ROI, you might find yourself caught in an endless loop of tenant issues and admin-related tasks that pile up on your desk. This is not ideal, as property investment should be something you can enjoy!
What is the solution? IGrow’s expert property rental management services
At IGrow Wealth Investments, we aim to make the property investment journey as seamless and enjoyable as possible for our investors! IGrow offers property rental management services that take care of things for you. You won’t have to answer calls from upset tenants at all hours, handle maintenance and maintenance teams or follow up on unpaid rent anymore.
Our experienced Rental Managers take care of:
- Tenant sourcing and vetting (through credit, payment, employment and rental history checks)
- Lease Agreement compilation and administration
- Monthly rent collection
- Regular inspections are carried out, and maintenance is coordinated
- Legal compliance is taken into account.
With years of experience behind them, our Rental Managers make sure your property runs like a well-oiled investment cog should!
The importance of IGrow Rental Managers’ tenant vetting process
Our Rental Managers from IGrow Rentals offer a professional and effective approach to ensure your tenants are screened and vetted. You will then secure a reliable, happy tenant who pays their rent on time. Our records spanning over 2 decades of property management show incredibly low vacancy and rental defaulting rates. We engage in regular tenant communication to keep on top of any tenant concerns or maintenance issues.
IGrow’s property management team aims to make your properties profitable. View our blog post that shares the benefits of using a property management team versus DIY property management: Why Property Investors Need Top-notch Property Rental Management & Maintenance Services.
“Rushing to fill a vacancy without thorough screening is a recipe for disaster. Problem tenants can cause property damage, miss rent payments or even become difficult to evict and many landlords regret not conducting thorough background checks, credit history reviews and verifying employment and previous landlord references.” (Source)
“The best way to avoid this potentially disastrous situation is to use a reputable property management company that will have access to multiple screening channels and will also assist and manage the situation if an issue does arise. However, if you opt to manage your own property, then it’s essential to use a consistent screening process for all applicants and invest in tenant screening tools or use a professional service that can check credit, criminal records and rental history. A few days of diligence can save months of stress and financial loss.” (Source)
How will rental property management services improve your life?
“One of the key benefits of rental property management services is giving you more time to enjoy your life! With our Rental Managers handling all your property and tenant administration, this will free up hours of your time. This time, you can spend wisely on your family, career, or growing your property portfolio.” – IGrow Rental Management Team
With IGrow’s expert property rental management, you can enjoy peace of mind knowing your property is in experienced hands. The processes we have in place and our expert team mean we build smoother relationships with tenants and resolve issues promptly. We also follow up to ensure a consistent monthly rental income is secured.
Instead of being reactionary to big issues, you can plan your property’s investment strategy with data-driven reports that our Rental Managers compile from our high-tech property management software.
Our cutting-edge software streamlines all Rental Manager admin processes and helps us guide you strategically with property success reports that we create from our property management software.
Conclusion
If tenants raise issues via calls at all hours, your tenants prove to be difficult to manage, or you get tied down with time-consuming admin, it’s time to invest in rental property management services. Managing your own rental property doesn’t have to be your headache. Let the IGrow rental management team handle matters for you!
In partnering with IGrow, our rental property management services alleviate the stress associated with DIY property management. Now, you can enjoy the benefits of your property investments’ ROI, without the headaches! We start off by vetting and securing reliable tenants so you don’t face rental arrears situations.
With IGrow’s dedicated property rental management team in your corner, you’ll have more time to enjoy your wealth, you’ll reduce your property risks associated with tenant vacancies or tenants defaulting on rent. Your peace of mind is our priority. We will make sure your tenants are content, your property is in top condition by attending to repairs promptly, and your monthly rental income is tracked and paid on time.
Our property management software helps the IGrow team compile property running success reports. With the data we collate from our software, we can help you re-align your strategy for even greater property success.
Our team will stay on top of repairs so maintenance is up to date and not a financial burden on you, as the investor. We will also be in touch with your tenants regularly, checking in with them to see that they are happy and your investment unit is in prime condition.
Are you ready to gain more free time and boost your ROI for your property investments?
Contact IGrow Rentals today to get our property management team on board. IGrow Rentals is fully integrated into the IGrow Group of Companies for accounting and legal assistance with mangaging your property portfolio.
