If you are new to the real estate game, you may not fully understand the difference from being a landlord to being a real estate investor. While both involve purchasing properties to create a flow of income, there is no denying the significant differences between the two positions. The primary difference is that landlords deal directly with tenants, while investors hire someone else to do it. If you are interested in real estate management, Melbourne property management professionals explain the distinct differences between landlords and real estate investors.
Advertising and Screening
Landlords must do all of the advertising for their rental units themselves. This often involves developing a written advertisement that will attract tenants and submitting it to newspapers and online directories, putting “For Lease” signs in yards, and scheduling appointments to meet with potential candidates. They must screen tenants, show vacant units, and collect rent and security deposits. Investors do not do any of this but leave these tasks in the hands of trusted companies that specialize in real estate management. Melbourne real estate managers will perform all of these tasks, allowing investors time to better focus on growing their business.
Maintenance and Repairs
When it comes to all forms of maintenance and repairs, the landlord is responsible to get these tasks done promptly. They may have to hire contractors if they are not able to do the jobs themselves. Investors are not responsible for these repairs and maintenance. The property manager will ensure all maintenance and repairs are completed in a timely fashion and offer 24 hours daily emergency repair service. If your tenant has an overflowing toilet at two in the morning, a landlord will have to rush to fix it, while an investor is undisturbed, as all tenant calls go directly to the property management company. Most property management companies have an in-house team that are ready round-the-clock to perform repairs.
Real Property Management manages all aspects of your rental properties, from the selection of responsible tenants to collecting rent and conducting evictions. They proudly serve the Space Coast area, including Melbourne, Palm Bay, and the surrounding communities. For more information about their real estate management services, visit their website today at http://www.brevard-fl.realpropertymgt.com.
