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Latest Myths in Rental Property Ownership

Real Property Management Rio Grande: Top Myths in Rental Property Ownership

Albuquerque Property Management

 

  1. If I don’t cash flow, I’m losing money. Not true. With principle payments, tax deductions, appreciation, leverage, a property with negative cash flow of $200 can result in investment returns of 10% or more.
  2. Tenants will destroy the house: While horror stories do exist and are true, there are a number of activities people can take to minimize risk. Starting with tenant screening, making sure the house is well maintained by the owner, and periodic inspections.
  3. Management fees are too high: Annual Management fees are less than one percent of the value of the property. Most investment management companies charge a higher fees and we are actively monitoring the property, collecting rent, and managing the property 24/7. These fees can be offset by increases appreciation of house
  4. If a tenant doesn’t pay rent, you cant get them out. New Mexico is a fairly landlord friendly state but even in more tenant friendly states, a professional management company that follows up with tenants consistently can collect rent or evict the tenant efficiently. During these pandemic times, we have unique processes we created to deal with eviction limitations and non-payment
  5. I can get a friend to manage my property for less. It is illegal for someone to manage a house they do not own…. even if they are managing it for a friend or relative. Plus, having a friend manage a $150K asset for you might not be the best judgement call. We are licensed, insured, experienced proessionals

REMEMBER: If you ever have questions about property management, Owner-Resident Relations Laws, or general real estate questions about buying, selling or renting a home, we are here to help. Phone calls are always free! 505-225-2812

 

 

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Real Property Management Rio Grande

www.rpmriogrande.com

505-292-4765

We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.

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