Finding your work/life/landlord balance is no easy feat!
Working a traditional 9 to 5 job and making sure you have time for the other things going on in day to day life can be a challenge in and of itself. Now you want to add investing in real estate to the mix? With enough organization and dedication, it is possible! Not only possible, but it can be very lucrative and rewarding for you as the property owner. In January alone, the rent for a two-bedroom unit in San Antonio averaged around $1,312 per month, that’s almost an extra $16,000 a year! In Alamo Heights, rent increased by 4 percent over last year. The boost in income may be worth the cost, but there are some keys to maintaining balance.
Staying Organized in the Chaos
Making sure that you are organized in your career and your property investments are going to be imperative to your success in both. Your tenants are going to need to get a hold of you at all hours, not just when you are at home—especially in case of emergency. There are a variety of free scheduling apps that you can use that work across all platforms to keep yourself organized. If your current career schedule is flexible—or you’re lucky enough to work remotely—making appointments and handling maintenance issues are going to be significantly more comfortable than if you work a regimented schedule. Add appointments to your calendar immediately, and block out time that is going to be dedicated to your full-time tasks.
Set aside dedicated time for your investing endeavors too, outside of your full-time job’s schedule. This way, you are giving your property investment your complete focus—free of the distractions of your day to day. Try to block out times for property showings, maintenance appointments, and meetings with tenants. Creating a routine for yourself is going to make it easier to maintain a schedule and keep focused in your daily career.
Prioritization Is Half the Battle
Adding investing in real estate to your list of tasks requires an enormous amount of allocation and preparation. If you are career-focused and starting to look into real estate, you will need to prioritize more than those that do not currently have a job. You may need to reach out to tenants concerning their rent payments, moving in or out, or maintenance requests. There are times that your maintenance requests might be an emergency or that someone is interested in seeing one of your properties, but they are leaving town in a couple of days. If your current career is less flexible than ideal, the last minute requests will be a difficult challenge. You'll need to prioritize on an almost daily basis to make sure that your tasks at work are completed. Ensure that your tenants—or potential tenants—are satisfied with the service you are providing them.
Property Management Means Peace of Mind
If you are a part of the daily grind and you're interested in investing in Alamo Heights, a property manager can help make your life worlds easier! Property managers can take a lot of the grunt work off your back and leave you free to keep up with your usual schedule. Property managers take on landlord work on your behalf and leave you to focus on your current career and family. Expert property managers typically:
- Find and screen tenants and handle move-outs and move-ins. They will also list and market your property across a variety of media at their disposal.
- Handle the physical condition of the property. Property managers can put you in touch with contractors and may even be able to handle any preventative maintenance.
- Assist with tax documents and records. An Alamo Heights property manager can help you file taxes on your property and will keep detailed records on your behalf. Record keeping can include copies of leases, tenant maintenance requests, and any complaints your tenant might have.
Taking on a rental property comes with much responsibility and requires an incredible amount of dedication. You’ll need to create a detailed schedule for yourself to be successful both in your career and as a property owner. You will also need to prioritize your day to day work and be flexible when an emergency or last-minute appointment comes up. Partnering with an expert property manager in Alamo Heights can help to make your life as a property owner much easier. Property managers take on much of the work for you—with your input—to make sure that you and your potential tenants are well taken care of.
If you are interested in partnering with Real Property Management Campanas or want to learn more about how a property manager can help you balance your career and real estate investments, download our FREE Guide to Finding the Best San Antonio Area Property Manager!