Every investor knows that the most expensive investment properties are found in California. You’re not going to be happy if your primary concern is cash flow. However, if you’re comfortable with modest or even negative cash flow in the short term in order to make major gains in the long term, California is where you want to be.
At Real Estate Connections, we have been in the business of managing properties for decades. Our experience has provided us with a number of unique stories; some of them success stories and some of them tales of how we creatively solved problems. If you’re thinking about hiring us to manage your investment home, we’ll tell you all about the good work we can do on your behalf.
We have been sharing some stories from our talented property management team to demonstrate how we work and what we do for our owners and tenants. Today, we have another post in our Stories from the Field series, and we aren’t sure if you’re going to enjoy it, but you’ll surely learn from it. Mike’s story is not something you want to experience at your own rental property. But if you do, you know we’re here to help.
We talk to prospective owners all the time about what we do for our clients and how we expertly manage their properties. If you’re thinking about working with us, we want to begin letting you hear directly from the people that work on our talented and experienced team.
Maintaining a rental property falls to both landlords and tenants. As a property owner, you’re required to provide a safe and habitable home. As tenants, renters are required to help you keep that property clean and well-maintained. Make sure everyone understands their responsibilities before the lease is signed and the keys handed over.
A vacant rental property doesn’t make an owner any money, and that’s why you want to keep your rental home occupied with a good tenant who pays on time and takes care of the home. Vacancies are expensive in the long term as well; your ROI suffers and you never have a chance to earn back the money you’ve lost.