Your time is valuable! Should you spend it on managing your DC rental properties?
How much is your time worth? If you have a full-time job, you can break down your hourly rate based on working a 40-hour week (with some room for estimated paid days off). Now, imagine paying yourself that rate to handle property maintenance, collect the rent, answer late-night emergency calls, and handle property inspections. You’d probably find it expensive!
Plus, doing things yourself isn’t always the most efficient way to accomplish property management tasks. What might take an expert property manager or licensed contractor an hour or two to complete could take you several hours (and trips to the hardware store) to accomplish the same task.
Hiring the best property management DC has to offer is one of the best investments you can make to grow your rental property income—especially if you live out of state. Here's why.
Professionals Are Cost-Effective
It might seem like spending money on a professional property manager or repair service is the least cost-effective strategy when managing your operating budget. However, the right contractors can complete a quality repair job in less time and at a lower cost than trying DIY solutions that don't work.
When you add the cost of supplies, multiple attempts (and failures), and your time to estimate a repair's total expense, you may find that you overspent your budget on a DIY solution when a quality plumber could have made the repair you need the first time with a lower invoice cost.
A Property Manager Handles It All While Reducing Costs
Consider everything else required to manage a profitable DC rental property portfolio. When doing things on your own, you must become an expert at property marketing, follow landlord-tenant laws (and staying up-to-date), renter screening, leasing, property showings, and more.
However, when the best professional property management DC offers handles all of these tasks for you (expertly), you experience pricing efficiencies and cost-savings across every aspect of managing successful investment properties. There's no need to bargain for pricing across multiple contractors or choose low-cost options to try and save money. The right property manager delivers quality full-service management that also boosts your ROIs.
You Save Your Time
Not only is your time valuable, but it's also yours! Spending nights and weekends dealing with resident emergencies and property tasks isn't a productive way to manage your time investing in DC real estate. Plus, no one is paying you to manage your rentals! Most investors find that doing things without a property manager's help doesn't put more income in their pockets.
Local or Long-Distance Time is Valuable
Even if you live in the area, you have better things to do with your time. Focus on your full-time job and spend your free time with friends and family doing things you love!
If you're a long-distance investor, you don't have the time to visit your properties often enough to keep up with routine inspections, maintenance, or dealing with contractors while out-of-state.
The best property management DC offers is the best way to manage every aspect of your rental property and have peace of mind about the condition of your rentals. We visit your rentals throughout the year, stay ahead of property maintenance, and keep an eye on renters to make sure they follow the rules.
While we do that, you enjoy free time and the income that comes from professionally managed rental properties!
You Aren't On Call
Owning rental property investments is an excellent way to generate passive long-term income, but it's not without stress. If you're in the daily details or the one on-call for late-night emergencies, you deal with more stress than you should.
With an expert DC property manager, you're no longer on-call. We are! We provide 24/7 availability to respond to renter emergencies (and owner requests) at any time of day or night. We prioritize prompt responses with a vetted team of contractors to handle anything your residents or properties need.
While we do that, you don't have to worry about a thing. No matter how many properties you have, we have the resources to cover everything. Our expert team also makes sure renters know they can reach out any time. We ensure that they don't deal with the same ongoing maintenance issue by providing a quality repair the first time.
When renters receive the best-quality property management care, they stay happy. Investors enjoy more income when renters renew the lease and continue staying in a rental property they love to call home.
It's Time to Invest In Property Management
Smart investors know they can't afford to skip the best property management DC offers. EJF Real Estate Services handles every task to maximize ROIs and boost your real estate investment income. Take your time back and learn more about how we're the best investment you can make in your rentals.
Find out how we prepare properties for new residents with our free Makeready Checklist.