Military families frequently move and therefore switch homes all the time. Although it would be easiest to just buy and sell properties every time orders arrive to ship out, that’s not always possible. You may not have enough equity built up in your El Paso home to sell it for the price you want. So, you may want to rent it out to tenants. If you’re worried about the security of your property while you’re gone, we have some solutions.
Renting Over Selling
Renting is often a wiser decision for the military property owner. Although selling the house will get immediate money for you, there’s a long-term return to be earned when you hold onto the asset and rent it out. Renting allows the owner to get the mortgage paid by the tenant. You can earn passive income each month in addition to increasing equity. Until you are ready to sell, you’re building your investment.
Property Management and Technology
Communication is crucial for owners who live far away. It’s important to be assured that the home is still secure and nothing has happened to it. The best way to protect and preserve your home is with the help of a professional El Paso property management company.
Most management companies use software to streamline and protect your home. We use Appfolio, which automates almost everything. You’ll have all the information you need right at your fingertips, no matter where in the world you are. We can help you market your home, screen tenants, collect lease signatures, and pay you rent with this technology.
Keeping Your Rental Home Safe and Maintained
With only one click, your listing shows up on dozens of websites, allowing for greater exposure and therefore attracting more potential renters. It makes pre-screening potential renters easy, as all the applications can be processed online, including the applicant’s rental history. Payments and late fees can be handled electronically, and all finances and accounting actions are also online. You’ll be able to see your monthly financial statements and run accounting reports whenever you need them. It helps us to communicate better with our owners, and owners who are out of the area definitely appreciate the efficiency of our online portals and software.
Additionally, all maintenance and inspections can be handled on this platform. The process of managing repairs is a lot easier, and owners can see when work was completed and what the cost was. You won’t have to worry about negotiating rates or finding vendors when you work with professional property managers; we’ll be able to dispatch the help that’s needed and follow up to ensure everything was done properly. We also get better rates due to the volume of work we provide, so you won’t have to worry about losing money when you’re renting out a home from afar.
We work with military families all the time when they need to rent out a property. If you’d like some help, please contact us at Century 21 Haggerty Property Management. We’d be happy to tell you more.