Investing in real estate over the last 50 years has usually been a safe bet. While it has had its ups and downs, for most investors, real estate is something that can be counted on.
However, with the rise of more investors comes a similar set of DIY property owners. The downside of these DIY property owners is that they often don’t have the time or the resources to properly manage a rental property. That results in tenants who are poorly screened; inconsistent maintenance is performed on the property, and a host of other issues. This causes problems to home values in the neighborhoods of the unit.
“The opportunity for real estate investment remains strong,” says Tiffany Moore. “The problem that we’re facing now in real estate and property investment is so many DIY property owners who don’t realize that by not hiring a good property management company, they’re sentencing their property to an early breakdown. It’s time that we educate these DIY property owners on the true value of having a property management company.”
Whether you need full or partial service to help with the managing, the idea is to find the company that will be the best partner for your investing needs.
“Most long term investors in real estate say you can’t realize a good return on your property without a good property management team,” Tiffany Moore “They’re not just invaluable, they are necessary for a successful investment.”
For property management in Washington, D.C as the market continues to provide a seemingly endless supply of renters, the trick will be to find the right kind of property management firm to partner with.
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