If you want to invest in real estate and think it will be easy income, think again. Believe it or not, there are over 11 million landlords in the US, most of whom still have to work multiple hours each month for every unit they own.
Fortunately, there are options to help you achieve a return without taking on an extra job. Let's talk about how a turnkey property management company can help improve your investment today!
What Is a Turnkey Property?
A turnkey property is the opposite of a "fixer-upper". Essentially, you buy a new or up-to-date property that already has existing tenants. All you have to do is "turn the key".
Moreover, this type of investment is a lot more secure, as the property is a major factor in profitability. You start earning right away, it's easier to find tenants, and you don't have to worry about major expenses early on.
Benefits of Turnkey Property Management
Turnkey properties may be more expensive to purchase than fixer-upper properties. However, they are far more stable, and with the right help, you can enjoy these benefits!
Passive Income
Number one on this list is undoubtedly your ability, as a landlord, to turn your income from semi-passive to fully passive. Your property management team will handle everything from tenant screening to maintenance and rent collection. This way, you can just sit back and enjoy the checks without the 3 am phone calls!
Saving Money
While property managers take a small portion of your rental income, it still ends up working in your favor in most cases. This is because the right property management team can bring the expertise you need to maximize profits.
Essentially, this will ensure that you are setting the right prices and policies, finding the right tenants, balancing the budget, and more. Over time, this can add up to a lot of savings!
Freedom and Mobility
Having someone handle everything for you offers plenty of freedom that you wouldn't have as a traditional landlord. For example, it can free you up to travel, work full-time, or retire somewhere else. You won't be tied down to the location of your building, so you can continue earning from anywhere!
Security
A turnkey property is far more secure than a fixer-upper on average. Consequently, so is having an expert property management team.
No investment is 100% secure or else everybody would be buying into them. However, real estate is widely considered one of the best investments around due to its relative stability. When you have a turnkey property and an experienced manager, there's little room for error!
Choose the Right Services Today
Now that you know the benefits of turnkey property management, choose the right Washington DC property and find the right help for your needs. An experienced property manager is worth their weight in gold, but you'll only have to pay a small portion of your rental income!
Stay up to date with our latest real estate tips, and don't hesitate to contact us with any questions or for help with your investment!
