Top 5 Challenges for Distant Property Owners (and How to Overcome Them)
Lucas Kobat • November 1, 2023
Navigating Distance: Top 5 Challenges for Distant Property Owners (and How to Overcome Them)
Being a distant owner means you're not always close to your property. This can make finding the right renters a bit tricky. But don't worry! We've listed the top 5 problems distant owners face and how to solve them.
1. Not Knowing Your Renters Well Enough
It's hard to know if someone is a good renter when you're far away. Solution:
Use a digital system like "Quick Check." It looks into a renter's past and tells you if they've been good or bad.
2. Late Rent Payments
Some renters forget to pay on time.
Solution: Offer online payments. It's easy for renters, and you get your money faster. Plus, "Quick Check" can show you if they've been late before.
3. Not Being There for Property Check-ups
You can't always be there to see if the property is okay. Solution: Hire a local property manager or use digital tools to do virtual check-ups. They can show you the property without you being there.
4. Handling Repairs from Afar
Things break, and you're not there to fix them. Solution:
Have a list of trusted repair people in the area. They can handle things when you're not around.
5. Communication with Renters
Renters have questions, and time zones or distance can make talking hard. Solution:
Set up regular check-ins or use a digital portal where renters can ask questions anytime.
Being a distant owner has its challenges. But with the right tools and strategies, you can find great renters and keep your property in top shape. And if you ever feel that managing your property from afar is becoming too much, consider leveraging our property management services. With our expertise and experience, we can handle all the intricacies of property management for you, ensuring you peace of mind no matter where you are in the world.
Looking to attract the best renters from afar? Dive into our tailored guide for distant property owners. From pinpointing ideal tenant traits to leveraging digital tools and virtual tours, discover seven essential steps to simplify your remote rental process and achieve success in the rental market
Distant property owners
Tenant selection
Quick Check tool
Virtual tours
Online advertising
Rental criteria
Online payments
Tenant communication
Check references
Rental success
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Are we suggesting that you should forgo this avenue completely? Not necessarily. Real estate can indeed be a beneficial part of a diverse portfolio. However, it is crucial to consider all aspects of the investment before jumping in.
