2021 was a hot year for the San Antonio property market! It's an attractive option for investors from out of state, with a median home price last summer of $348,000.
Are you looking for a way to invest in real estate without getting your hands dirty? Turnkey property management is the answer. You get a great home in outstanding condition and a property manager to handle all the day-to-day work.
Let's dig a little deeper into how turnkey property management could work for you.
What Is Turnkey Property Management?
Some investors love a fixer-upper. For others, the very idea sends shivers down their spine. If the latter describes you, a turnkey property is the way to go.
They're the best property investment option for out-of-town or even out-of-state landlords. The property has been fully rehabbed and is ready to receive paying tenants from day one. You know you've got a great home to offer and have far fewer maintenance costs and worries.
Working with a local property management company from the start makes every stage of the process simpler.
How Turnkey Property Management Works
When you employ a property management company, you hand over the day-to-day running to a property manager. This person becomes your representative. They are a point of contact for the tenant to go to any time of the day or night.
Marketing and Tenant Screening
This part of the process requires local real estate knowledge and experience.
First, the property manager will work with you to set the rent at the right level. Then they'll market your apartment or house across all the best local platforms, giving it maximum exposure. They'll also make sure it's in full compliance with the Texas Fair Housing Act.
They will then manage the tenant screening process. In Texas, landlords can charge applicants for the checks they have to undertake. Your property management company can handle this process from start to finish to find tenants who will pay and stay.
Find Tenants Fast
Working with a San Antonio property management company allows you to fill vacancies fast. Vacancies reduce the profitability of your turnkey investment property. Although there are fees to pay to the property management company, it's money well spent to have reliable tenants in situ as soon as possible.
You do not want to answer the phone at 3 am to a tenant with a burst water pipe.
This is much less likely to happen with turnkey property management. They won't just handle emergency repairs. They'll also undertake regular inspections and provide routine maintenance.
This can help protect your investment and keeps tenants happy and paying the rent!
A property management company will also collect the rent and chase late payments. They will also follow up on lease violations and assist with the eviction process in the unlikely event that it's needed.
Choose HomeRiver for Turnkey Property Management
Turnkey properties are a great form of investment. You know you're giving your tenants a fresh, fully rehabbed home that should have few maintenance issues. Working with turnkey property management can give you complete peace of mind.
At HomeRiver Group, San Antonio, we're a national firm with a local touch. Our dedicated San Antonio property managers are ready and waiting to care for your home as though it were their own.
Call us today at 210-528-1972 or contact us online today!