All real estate investors have one thing in common: they want their investments to be successful. However, not all investors will experience success with rental properties. In fact, many lose money and have to give up the dream within the first 5 years. Why? It all comes down to how the properties are managed and great Houston property management begins with local knowledge. There isn’t any way around it.

What does that mean for new investors? If you just moved to the Houston area and figured you would start making a little money on the side with a rental property or two, you had better get the help of a professional who is familiar with the area. Honestly, there are many Houston investors who have lived here their entire lives and still don’t know the area well enough to successfully manage their rentals. Below are three reasons why you need a property manager with a great deal of local knowledge behind your investment properties.

  1. Advertising – Finding tenants for rental properties isn’t as easy as it sounds. A lot of new investors have had rentals sit vacant for months before they found their first renters. That is not a good way to start your business because it’ll put you in the red real fast. The key to finding good renter fast is great advertising. Professional property managers know the area well enough to know exactly where and how to advertise your rentals to find the tenants you’re looking for.
  2. Pricing – Just like it is with homes for sale, rental properties have to be priced in accordance with the rentals surrounding them. Seasoned property managers are familiar with the various neighborhoods in Houston and they know how to pull comps on the rentals in those areas to ensure that your rental will be priced right. This is important because if you price it too low, you might get it leased quickly, but you’ll still lose money. And, if you price it too high, you’re going to be sitting on a vacant rental, footing the bill yourself.
  3. Problems – Finally, finding a manager who has a lot of experience with Houston home rentals will save you a lot of time and money when your properties experience problems. If the rental has a maintenance issue, your manager will know who to call to get it fixed for the most reasonable price. And, if you have a problem tenant, your Houston property management company will know how to handle the tenant in able to get the issue resolved.

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