It used to be that landlords would have to live within a reasonable distance and proximity to their rental property investments. But in today’s digitally connected world, many of the basic property owner tasks can be managed more remotely. And there are inherent benefits to being a long-distance landlord, too. Today, we’ll explore a few reasons why you don’t have to live near your Morrow rental property to manage it easily and effectively.
Long-Distance Landlords Have More Investment Freedoms
If you were only allowed to explore your investment options based on your proximity to the rental property itself, you would be pretty limited. Long-distance landlords get to explore investment properties nationwide, allowing more freedom to discover great and more cost-effective communities. Morrow rental properties are attractive for these very reasons and can be excellent investment opportunities.
Automation Streamlines Everything
Automated rent collected has already been simplifying how Morrow rental property owners collect rent. It’s not a new concept. But it has certainly made being a long-distant landlord that much easier. Explore your options online for rent collection and streamline the monthly transactions. In addition to rent collection, technology makes everything easy, including smart home technology to monitor thermostats and operate locking mechanisms. Hop online for a quick video call with your tenants to keep the communication convenient and easy. With the countless digital resources available these days, many of the operational tasks of rental property ownership can be managed from the comfort of your far-away home.
A Morrow Rental Property Can Be a Great Passive Income Opportunity
Living far away from your Morrow rental property means you’ll have to travel to handle repairs, tenant requests or to show the property. But you can instead outsource those tasks to a local property management company, where a dedicated manager can tend to these tasks for you. Contracting someone else to handle your maintenance schedules, showings, and renter questions will free up your travel time and operations management. In a way, having this partnership can allow you to kick up your feet and collect a passive income.
Additional Tax Deductions
Not living near your Morrow rental property, even with a property management or operations manager partner, means you will sometimes want to travel to visit your investment. Long-distance landlords can write off those travel expenses related to the rental property business. And some property owners get creative about choosing to invest in rental property locations that have significance to them. For example, maybe you prefer a Morrow rental property because it’s closer to your future retirement location or near your adult child’s new home.
Morrow Rental Property Managers Make It Possible
Long-distance landlords and rental property owners will tell you their experience is the simplest with a rental property manager. Partnering with a property management company means having an ambassador, on your behalf, to handle all the operational duties of property management. These professionals can hire reputable contractors for seasonal maintenance. They can stage and perform walk-throughs of your rental to prospective tenants. Managers can handle marketing and rent collection and even do all the tenant pre-screening interviews for you. It’s a partnership that makes remote rental property ownership possible.
When you’re ready to explore Morrow rental property investment opportunities, contact us! We can be that remote partner to help preserve and maintain your property. And if you already own Morrow rental property and are considering a move elsewhere, we can help, too. In either scenario, you don’t have to live in Morrow to grow your investment rental in Morrow. Give us a call today and kick up your feet. We’ll handle all the heavy lifting and free up your time and costly travels.
