The Top 5 Pitfalls to Avoid in Investment Property Management
Do you own rental properties? Is the day coming up when you have to hire someone to manage your investment property? If so, you don't want to ruin your investment by making the wrong choice.
There are many pitfalls to avoid in investment property management. Below, we'll go over some of these pitfalls.
Let's dive in!
1. Inadequate Market Research
Doing your due diligence and understanding the current market trends and conditions is important. Without it, you run the risk of purchasing a property in an unfavorable location or at a price that is not reflective of its true value. This can result in lower rental income and difficulties in finding and retaining tenants.
Inadequate research can also lead to missed opportunities for property improvements. So, to avoid this pitfall, you...