All property owners are investors, but not all of them are landlords. What’s the difference? The amount of time and control is gained or lost, depending on the role(s) you embrace. The property investment market and rental industries are changing. The role you choose will be affected. Here is some helpful information to help you decide if you are debating if you want to be a landlord or investor.
First, an investor
Every investment property owner is an investor first. Investors are entrepreneurs looking to expand an income portfolio by purchasing properties in which others will live or work. They risk financial losses and reap the benefits of tax breaks for small businesses.
If an investor chooses to remain an investor, they leave the mundane details of everyday property ownership to professional property managers. The alternative requires much more investment of self, time, and patience.
Then, a landlord
Those who manage their investment properties take on the title of a landlord, and that’s an entirely different proposition. Strict investors give up some control of their properties but also benefit from a symbiotic relationship with professional property managers whose wealth of knowledge and resources make things easier for the investor.
Those property management fees may seem hefty at first glance, but choosing to forgo hiring a property manager leaves you to deal with the daily headaches of marketing, leasing, property repairs and maintenance, rent collection, the legal considerations for evictions, and more. It’s a distinction worth researching before investing in a property because every property manager, whether professional or the investor who chooses to manage his investment property, knows that being a landlord is very different from the hands-on responsibilities of property management.
Landlord or investor: Class A Management is here to help
If you’d prefer to remain an investor and reap the benefits without the headaches, contact Class A Management today and let us handle the day-to-day operations and maintenance details. We know what it takes for properties to succeed so investors maximize their returns. Call us today at 817-295-5959 or e-mail info@classamgmt.com.