When you rent your property, you are one lawsuit away from being out of business. That's why it is so important to choose a management company with the expertise to manage your property safely, efficiently, and within the legal requirements whether they be federal, state, or local.
When you hire compass property management group, you hire a team of experts who are regularly trained, track pending legislation, attend conferences and use due diligence in keeping your property safe, secure and bringing in the money. Our legal documents are reviewed by our attorneys to ensure they cover all important issues to protect you and your property. When you hire compass, you can rest easy knowing your property is being handled by the best.
Let's face it. The bottom line is making money with as little risk as possible. Do you make the money now, or later. If you can afford to wait, passive streams of income can be great padding to your retirement portfolio. Real estate investments usually outperform the stock market over time. They also give you tax benefits and deductions.
But going in blind is a big mistake. It is important to evaluate your current situation and determine if waiting on your investment is the right step for you.
Rental Property carries risks. If you have a bad tenant you can face damage to your property, months without income, expensive legal battles, costly turnovers, and months of vacancies. These can be mitigated with a good property management company that knows the laws, has great screening tools, and knows how to work with tenants and vendors. But you must be able to set aside funds for those costs.
The market is also a huge factor. Currently, the sales market is tight, meaning you can realize a nice profit if you sell now. But this also means rental amounts keep increasing, as does your equity. If you can afford to hold off, renting may be the better long term choice.