Real Estate: a Smart Investment
Real estate has long been held as one of the wisest and safest forms of investment for the average consumer. Real estate typically appreciates in value over time. Albeit a gradual appreciation, if property is held on to for years it typically gains value and adds equity to your pocket (or your family’s pocket) when the time comes to sell.
Let’s take a look at just a couple of the ways to invest in real estate.
Single Family Home Investment Properties in the Tri-Cities, Wa
Many people choose single family homes as their first investment property. It can be easy to purchase a home using a conventional or FHA loan, live in it, then turn around and rent it while you move on to your next home. A word of caution: if you choose this route, there are requirements with how long you need to live in the home before renting it out. Be sure and do your research before taking that step.
Multi-Family Investment Properties in the Tri-Cities, Wa
Any real estate investor in the Tri-Cities, Washington knows that duplexes are a hot commodity. With the former government housing in Richland, there are dozens of duplexes in Richland that are snatched up in less than 24 hours after hitting the market. Their rate of return is phenomenal, making them highly sought after. Along with duplexes, there are many four-plexes and other forms of multi-family homes in the Tri-Cities and surrounding areas.
Why use Property Management Services in your Tri-Cities, Wa Investment Property?
Several of our brokers at Powell Real Estate Group own investment properties and are familiar with the processes involved in managing and caring for a rental and tenants. While it is a fantastic investment, it can also be a very demanding investment.
Frequently once a rental property is purchased and the tenants move in, it becomes a situation of “out of sight, out of mind.” You’re not coming home to the property every day and therefore you’re not thinking about it. And you don’t want to think about it. You just want to see the rent show up in your account each month!
Hiring a property manager safeguards your property’s value. It will save you time, money, and hassle. No late night phone calls about broken pipes or leaking ceilings. No collecting rent fees or awkward conversations with tenants about those late fees. Your property manager will do it for you! You’ll have the ultimate peace of mind while maximizing the rate of return on your investment.
Property Management at Powell Real Estate Group
Terry J. Parrish, Managing Broker, Property Manager
We are proud to offer professional property management serving the Tri-Cities, Washington and surrounding areas.
Our property manager, Terry J. Parrish, has been in real estate since 2007. He not only offers property management, but specializes in helping people purchase the investment properties. He stays up to date with training in fair housing laws, eviction procedures, and is licensed and insured to successfully manage your property here in the Tri-Cities.
Specific Property Management Services We Offer
Finding and Vetting Tenants
There is nothing worse than having a tenant move in only to have months go by with unpaid or consistently late rate. With Terry’s expertise and thorough background checks, he can help make sure the tenants living in your units are financially qualified to live there and won’t cause a headache later down the road.
Terry will not only find your tenants, he’ll get the contracts signed and valid.
Collecting Monthly Rents and Deposits
No more stopping by the property or waiting for a check to come in the mail. All rents and deposits are collected and accounted for by Terry. Even those late fees – notices will be sent out and fees collected all without you having to do a thing.
Depositing Rents to Owner’s Account
Rent collected will be deposited into the owner’s account. No more going to the bank. Just watch the money show up! Deposits will be held in a separate trust account for your convenience.
Paying Monthly Utilities
Depending on the type of contract you sign with your tenants, the landlord might still be responsible for paying some or all of the utilities. No more getting those bills in the mail! Terry will keep track of utilities and make sure they’re paid on time.
Taking Emergency Phone Calls from Tenants
Every landlord has had that dreaded phone call while they’re on vacation. Your tenant calls in a panic saying a sprinkler is broken, or the basement flooded, or they’re locked out and can’t find the spare key.
If you’re signed up for property management services with Terry, he’ll answer that phone call and take it from there.
Coordinating Contractors for Repairs
With Powell Real Estate Group’s property management services, maintenance and repairs will no longer be a nuisance. Terry will schedule and coordinate all the contractors’ work with your tenants and make sure the job gets done correctly.
Each time a tenant moves in and out of a unit, Terry will do a visual inspection with a checklist to ensure both that no damage has been done and that the appropriate tenant is responsible for any necessary repairs.
We’re Here to Help
Being a landlord isn’t always convenient. It can be a 24/7 job that adds unnecessary stress to your life. Late night phone calls, showing properties, inspecting properties for damage, coordinating contractors, collecting deposits, rent, and late fees can all add up to a lot of time taken away from what you really want to be doing. Hiring a professional property manager helps ensure that you receive the most lucrative rate of return on a large investment – possibly the largest investment in your portfolio.
Terry has the experience, knowledge and licensing to make sure your property is taken care of. For any questions regarding property management in the Tri-Cities, Washington or surrounding areas, give him a call or text at 509-378-5690.