In the time that I have grown our Myrtle Beach Property Management program, I have come across quite a number of property owners who decided to attempt to manage their property themselves, find tenants to occupy the residence, and attempt to manage the tenants during the term of the tenancy. Though there’s always the select few in anything you do that defy the odds, but most of our business has grown from Myrtle Beach property owners who have had less than desireable results from managing their properties and tenants on their own!
Here’s the reason why…Most of the time, the property owner does not have the experience with screening tenants to ask them the important questions that will initially assist them in weeding out the “non-desireable” tenants to the quality ones. Additionally, they typically don’t conduct, or have access to, the extensive screening process required to properly determine whether a tenant is desireable to have occupy their residence. Most of the time, the homeowner is so excited that they have found someone to rent their property that they just take the first person who says “They want it” and puts down the security deposit and rent amount requested!
What most fail to realize is that the typical “Less than desireable” tenants prey on the properties that are “RENT BY OWNER.” For the exact reason that is previously mentioned is because they don’t have access to nor typically conduct the necessary screening process to weed them out. They know that as long as they say “They Love your house” and have the requested Security Deposit and first months rent, that that property owner will be excited to rent to them.
So what’s the answer? HIRE A PROFESSIONAL MYRTLE BEACH PROPERTY MANAGER!
O.K., I know the question you are going to ask or comment you are going to say…“I’m already in the negative (or barely cashflowing) on this property, how am I going to pay a property manager?”
So here’s my answer…Don’t look at what position you are in “cashflow” wise when determining whether or not you are going to hire a professional Myrtle Beach Property Manager. Look at the overall numbers for what the cost is going to be to properly protect one of your most expensive investments… Here’s what I mean:
Ask your Myrtle Beach Property Management team what their fee/charge is going to be? Usually it’s a % of the gross monthly rent. Calculate all the charges and see what the cost is going to be for the year. For a property that is bearing a gross monthly rent of $1,000/month, the total yearly cost for professional Myrtle Beach Property Management will be less than $2,000 for the year.
From my experience of dealing with Myrtle Beach property owners who had attempted to manage their properties themselves and have had a “bad experience,” the cost of the repairs typically well exceeds $2,000.
Look at it like this…It will probably cost you more than $2,000 just to re-paint that entire home. It will cost you more than $2,000 to replace all the carpet in that home. Think about if you have to replace the carpet and re-paint, which when dealing with a “horror” tenant, this is what you can expect…PLUS potential loss rent, court costs, and loss of time from property being off the market…
So I ask you, “Is it worth the LESS THAN $2,000 for the year for a professional Myrtle Beach Property Management team to protect your INVESTMENT!
Here is the one thing you need to remember when hiring your Myrtle Beach Property Management team…Ask them what their screening process is, what their rent collection process is, what their eviction process is, what process do they utilize when the need to put a tenant in collection is, and MOST OF ALL…Do they have a legitimate Office Location to conduct business from?
Feel free to give us a call and we will be more than happy to discuss how WE can protect your investment to the best opportunity available! Remember, your property is an investment…PROTECT IT!
