Mistakes Made by DIY Austin Landlords
Working as a property manager, it’s easy to think the job won’t be that hard and that most of what you’ll be doing is collecting rent payments. Then you come to find out that property management is much harder than first anticipated. Part of any venture in life is learning from your mistakes and as a property owner in Austin, Texas, this includes you. Here we’ll go over some of the mistakes to avoid if you choose to self-manage your Austin rental home.
Charging too much or too little
If you’ve chosen to work with an agent to help lease your property this shouldn’t affect you too much. However, let’s imagine you’re choosing to find a tenant for your property on your own. You post ads for your property to the usual sites such as Craigslist or Facebook, but is this helping? You might find a tenant, but do you know how much to charge them? Realtors have access the MLS which houses a lot of real estate data, some which is important in this situation. Working with a property manager would have allowed you to run comps in your area to accurately pinpoint the amount you could charge for your Austin rental home. Self-managing owners do not have this luxury and instead price their property on their...