I purchased three condominiums as rental properties near my hometown of Charlotte, North Carolina, before I retired. I bought them at a good time, at a fair price. For a few years I managed the properties myself. But now I have a property management company taking care of my real estate investments.
I enjoy traveling. I spend the coldest months in Florida. In the past two years I have been to China, South Korea, Portugal, and all over the United States. The first year after I retired I managed the properties while I traveled. Even though I was on the phone every day and made frequent trips back home, I could not keep up with repairs and tenants' needs. With the help of property management professionals, I am no longer on call and can travel freely.
I contract with a full-service real estate sales and property management company that deals with both residential and commercial properties. They do pretty much everything for me. They find tenants, run credit checks, get leases signed, and collect and deposit the rent. They take care of any maintenance problems not covered by the condominium association. So if the toilet leaks or the refrigerator stops working, they handle it for me.
The other thing I like about this company is that they know the local real estate market. (In fact I bought my properties through them.) Even in these challenging times, they can accurately price a property, and they know when a good investment comes on the market. I have asked them to keep their eyes open for a good deal on another investment property.
I am lucky in that I bought these properties specifically as rentals; I do not plan to sell them anytime soon. Not everyone is so lucky these days. People I know who have been planning their retirements for years cannot sell their homes and move on. I have heard of young families who have to move for jobs or other reasons, but cannot sell their houses. While there are no perfect solutions for folks who have been caught in the housing downturn, property management companies can help. They can arrange rentals or even lease-purchase agreements, thereby reducing burdensome costs for these 'not by choice' property owners.
I shopped around before I decided which property management company to use. I asked for references and actually met people in person to find out their experiences with the companies on my short list. I only considered businesses with a long-term presence in the community; I did not trust that an outsider or a newcomer would have the commitment I was after. Of course, the company had to be licensed and bonded. Most of all I needed to meet the person I would be working with to make sure we could communicate well with each other.
I am entirely satisfied with the property management services I am getting for my Charlotte properties. I hope you will have the same positive experiences if you find you need help renting your home or investment properties.
To learn more about subjects like charlotte property management please visit the web site at: http://CmrPropertyManagement.com
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Chris Robertson is a published author of Majon International. All Rights Reserved. Copyright 2011 (Tue Apr 07 2009) Majon International. Majon International is one of the worlds MOST popular internet marketing and internet advertising companies on the web. Visit their main business resource internet marketing web site at: http://www.majon.com
