The new year is a perfect time for renewing your commitment to the workload your rental property portfolio represents! If you've been enjoying a break from the demands of your Philadelphia investment properties over the holiday season, you may be feeling sad now that that time is about to come to an end.
To help you get back on the wagon of managing your 'passive' real estate investing experience, we thought we'd take a little moment to remind our readers about all the fun that awaits them as solo rental property owners in the Philadelphia area! There are so many perks and privileges of being a property investor—and all of the work that comes with the role.
After all, why should you hire a Philly property management company when you can just as easily manage the demands of a growing portfolio alone? Read on to learn all that you have to look forward to as an investor as we move forward into the new year!
You're Back on-Call for Maintenance Issues
Without a skilled property manager in the Philadelphia area to handle it for you, get ready to hop back on those phones and be back on the front lines when your renters call to report maintenance issues or make maintenance requests!
Professional maintenance software that allows your renters to submit requests is often out of the price range of many individual investors—but that just means you get to provide a 'personalized approach' as your response to every needed repair.
At least renters in the Philadelphia area will appreciate the fact that you're a hands-on property owner—even at two in the morning when the heat suddenly goes out. What—do you think you can ignore those calls until morning with a low of 28 at night? Guess again! At least that onesie you got as a gift will keep you warm and dry while you get up to go check out the situation.
Even if you don't answer emergency calls directly with your own toolbox in hand, you still get to try and ring your trusted maintenance partner and see if they'll take an early-morning call on such short notice. While an experienced Philly property management company would have dedicated vendors already on hand, you'll just have to make do with whatever you can find. Isn't being a DIY investor the best?
Let's Not Forget You Get to Inspect Things, Too!
There's nothing like a peaceful drive through Philadelphia in the dead of winter to go take a quick look at your rental property and make sure your renters are doing well and living comfortably. It's especially important to ensure that your HVAC filters are functioning properly after all those holiday candles.
As a DIY property investor, you'll get to develop an appreciation for drive-by inspections that take an hour to complete round-trip. It's a great way to get in some 'me time' after a stressful holiday season—and trying to find time for yourself as an investor can be a challenge when you handle every detail of your portfolio alone.
You Get to Personally Ask People for Rent
There's nothing more fun for property owners in the Philadelphia rental market than having to pursue your renters for rent checks right after the holidays. If you collect rent within the first five days of the month, then January is an especially joyful time to try and seek payment after the glut of holiday spending that took place in December.
Yes, it's one of the joys of being a DIY investor (especially if you're a people person) to have to physically discuss rental payments with your residents after they ignore a few emails (and convenient texts) that you sent as a friendly reminder. Everyone enjoys being 'that guy'!
Without the professional buffer of Philly property management getting in the way, you're bound to have some great conversations with your residents to cherish forever. After all, successfully managing a profitable rental portfolio is also a people business.
If your rent collection efforts go sour somehow, get ready to brush up on your understanding of rental law with YouTube University, so you're ready for your day in court. You could work with property management services that handle all of this for you—but where's the fun in that? Then you'd never learn that it's illegal to catch fish with dynamite in the state of Pennsylvania!
If That's Not the Life for You, You Need a Property Manager
If you're no longer feeling the drive to manage your properties alone, that's alright—we've got your back! We are the best property management company in the Philly area.
Learn more about how we can serve you and your investment portfolio just by getting in touch with us—we actually pick up the phone! Let us show you how to enjoy genuine peace of mind as a property owner when we take over the hassles of management on your behalf.