When you invest in real estate, you’re building wealth and a future of passive income, allowing you to live out your golden years enjoying the activities you wish on your terms. However, purchasing the best deal in Roanoke doesn’t guarantee continued success with the property. The calculations for your returns on the investment, or ROI, are based upon results created by the management policies and systems you have in place.
While property management fees are easy to compare, the costs of poorly managing your real estate investments can far outweigh the monthly fees of a professional property management team. Read on as we explore how much it costs to manage a rental property in Roanoke VA.
Missed Opportunities
One downfall of real estate investors taking the time out of their day to carry out all of the duties of managing a rental property in Roanoke is that you aren’t spending that time focusing on other thing that are important to you. A significant part of investing is keeping abreast of local economic changes, zoning plans, and significant market trends. You’re also being distracted from furthering your education in real estate. The precious time you miss with your family while taking care of rental properties can never be recovered.
Tenant Rights
It isn’t always easy finding the tenants you prefer to rent to for your vacant units when you are a landlord that must manage a rental property in Roanoke VA. There are laws governing the marketing of the rental property and laws governing the treatment of potential tenants at local, state, and federal levels. Therefore, when you wear the hat of a landlord, you must keep abreast of these laws and any subsequent changes.
Costly Tenants
When you professionally manage a property in Roanoke, you should have a system to screen tenants that you follow to ensure the best experience and highest returns on your real estate investment. Tenants are the backbone of your real estate investment business, and poor tenant screening equates to poor returns.
Property Integrity
Regular maintenance and immediate attention to repairs are required to protect your asset when you manage a rental property in Roanoke VA. Otherwise, what may begin as a minor fix, like a roof leak, could become a series of highly costly repairs from the damage that spreads with the water across the roof, walls, flooring, and possessions, not to mention the dangers and expense of remediating mold
You cannot understate the needs of your tenants. Otherwise, the outcome of unattended repairs and maintenance issues will become glaringly apparent. In addition, if a landlord should fail to manage a property in Roanoke to the tenants’ satisfaction, your turnover rates will be high and out of sync with the market average.
Stressful Situations
Regrettably, when you manage a rental property in Roanoke VA, you may find yourself with tenants that you must hunt down to retrieve your rent payment or deal with the stress and legal red tape of evictions. If you own a rental property, sooner or later you’re going to deal with a frustrating tenant in one of your properties. Maybe they trashed the property, maybe they never pay rent on time, maybe there are too many people living there, maybe they just call you for every little thing. No matter what the situation, tenants like that will eventually rent your property.
Sell Your Rental Property
If managing a rental property is causing you a lot of stress and expense, then you can always sell your property. In fact, a lot of rental property owners that sell to us do so because of the frustrations they face dealing with tenants. Depending on who you sell to, you may not even need to evict your tenant first (for example, in many cases, we just buy and evict for you). For rental property owners with family living in the rental, this is an ideal solution.
Linken Investments can buy your rental property exactly as it is, no repairs or cleaning needed, and we pay all cash and close fast, in as little as 7 days or when it works for you. Plus, we don’t charge commissions, and we pay all closing costs. Think of all the time and money that can save you. There’s no easier or quicker way to sell your rental property and get on with the next chapter in your life.
If you want to sell your rental property to us and finally get rid of the hassles and headaches, then get in touch and tell us about the property so we can make you a fair cash offer. Click here now to fill out the form or call our team at 540-596-5030
Linken Investments, Roanoke’s Trusted Home Buyer and Seller
Linken Investments LLC. is a local real estate solutions company based out of Lynchburg, VA. We are Roanoke’s Trusted Cash Home Buyers. We have been buying houses for cash in the Roanoke area since 2005. We are also Licensed Realtors in the state of Virginia. Since we are a real estate investment company as well as a licensed and reputable real estate agent, we have multiple ways we can work with you to sell your Roanoke home fast and for the highest price. We provide you a way to see all of your options in one spot, letting you choose whether you want to maximize the price of your sale by listing on the Roanoke area MLS or whether selling fast and simply is more important to you.
Our years of experience are one reason clients trust Linken Investments to complete the sale of their Roanoke area property quickly with honesty and integrity. We’re a family-owned business and focus on helping homeowners like you find solutions to your problem whether you’re going through a foreclosure, selling an inherited property, or just need to sell your Roanoke house fast for any reason. Linken Investments offers you the chance to sell your Roanoke home in a simple, stress-free, cash transaction, or you can list the house with us. We’ll sell your Roanoke area house at the highest possible price with our wide buyer network and the best marketing in Virginia.
Linken Investments can buy your home exactly as it is, no repairs or cleaning needed, and we pay all cash and close fast, in as little as 7 days or when it works best for you. Think of all the time and money that can save you. There’s no easier or quicker way to sell your Roanoke house fast and get on with the next chapter in your life. We Buy Houses Roanoke VA.
It won’t cost you any money and only about an hour of your time to find out how much cash we’ll pay you for your house. And you’ll be under no obligation to accept our offer, so you have nothing to lose but a house that’s standing between you and the life you want to enjoy.
Give us a call or text anytime 540-596-5030 or fill out the short form here today!