If you own a duplex and are interested in renting out both units, you may know that it would demand a lot of time, effort, and a long-term commitment to do it successfully. Although you may feel like you are ready to handle some of the responsibilities that come with managing a duplex, you should hire a property management company to do it instead for several reasons.
Owning a single-family home and renting it out often demands half the work while also being easier because you do not have to worry about your other tenants. However, marketing a duplex means that you need to rent out both units before the property is considered fully occupied.
If you have other obligations, you may not be able to set aside as much time as you would like during vacancies to rent out both units quickly. This is where a property management company can come in handy because they can dedicate all the time needed to rent out the entire duplex.
One of the trickiest things about managing a duplex is tenant relations. For instance, you want to make sure that you have a positive relationship with both tenants at all times. You also need to keep an eye on the relationship between the tenants since this can affect the rental experience.
If one tenant starts causing excessive noise at night or parks in a way that takes up the other tenant's parking space as well, you need to address these issues as a landlord. A reliable way to keep these problems to a minimum is by going through extensive background checks for all applicants because this will help weed out those who are more likely to be problematic.
When you are not fully confident in your process of analyzing applicants, you will feel better hiring a property manager and letting them handle tenant applications and relations.
To maintain a successful rental duplex, you need to be on top of maintenance. This means that you may need to go through both units to handle inspections, preventive upkeep, and repairs at times. While you may be able to do this during vacancies on occasion, you must be willing to schedule visits with tenants so that features in the duplex are not left unchecked for a long time.
If you do not feel confident about your ability to handle maintenance or schedule visits while tenants are living in the duplex, you will appreciate what a property manager can do.
Getting help to rent out and manage a duplex is worth doing when you are not ready to handle all the work required.
For more information, reach out to a property management company.Share