Rental property owners in Omaha have been smiling to the bank lately. A limited supply of affordable housing is giving way to rising rents, a trend that began in 2020 and shows no signs of ending any time shortly.
However, this doesn't mean all landlords are having a great time. Running a successful rental business takes expertise, patience, and dedication. Some property owners are struggling to find their footing owing to infective property management.
If you're in this situation, you probably need landlord rescue. Continue reading for a list of telltale signs it's time to bring in a property management company.
1. Low Rental Income
Rising rents mean it's a bumper harvest for landlords. If your earnings are below the average rental income, something is amiss somewhere. Maybe your property has a low occupancy rate, which would be surprising because rental demand is high. Or perhaps you have tenants who aren't paying their rent.
Either way, low rental income is a sure sign you need to hire a property manager. If the challenge is rent collection, the manager will implement effective strategies to streamline collection. If delinquent tenants are the cause, you can bank on your manager to initiate successful evictions, so you can bring in high-quality tenants.
2. You Keep Getting Bad Tenants
The ability to pay rent is the top tenant quality landlords look for, but bad tenants aren't just those who don't pay rent.
In fact, you can have a tenant from hell who pays their rent. They could be the type who hold parties every other weekend, causing a lot of noise that disturbs other tenants or neighbors. Or they could be criminals, using your rental to conduct illegal activities.
If you keep getting bad tenants, you need landlord rescue. Chances are you're not conducting thorough tenant screening, which is why bad tenants are finding their way into your rentals.
A property management company will put that to a stop. They have the tools and expertise to screen renters and separate high-quality ones from those who are likely to become a problem.
3. Struggling to Keep Up With Rental Property Maintenance
Routine maintenance keeps your property in good shape, prevents major repairs, and ensures your tenants are in a safe and healthy environment.
Maintenance calls for regular inspections, which can be a challenge for landlords who are busy with other activities or live out of town. Consequently, repairs can go unattended for days, causing tenant dissatisfaction. You can even be sued by your tenants for neglecting the repairs.
Making rental property repairs has to be up there on your to-do list. If you're struggling to keep up, call for help ASAP!
Get Landlord Rescue at Aksarben Property Management
Landlord duties can be overwhelming, but you don't have to get stressed. You just need to know when you can't do it anymore and call for landlord rescue.
At Aksarben Property Management, rescuing landlords is our specialty. We are a full-service firm, meaning we can take over all your duties, from tenant screening to rent collection and maintenance.
Contact us for more information on our services.
