The key to effectively managing a single-family rental property during any economic cycle hinges on an investor’s ability to maximize their property’s value.
As the current U.S. unemployment rate hovers above Great Depression-Era levels, many property owners are having rent delinquency, leasing and management issues.
So, what can an investor do during the current economic situation to protect their asset? What immediate steps can they take to curtail delinquencies, sign new tenants and avoid long-term vacancies?
The first step is to ensure that the property generates steady monthly rental income in the most efficient manner, even when renters are losing their jobs. Oftentimes, ensuring that a rental produces steady returns, while minimizing…