Dear Property Manager:
My wife and I bought a multi-unit commercial investment property in Charlotte several years ago. I have been doing the property management of these properties myself (I am semi-retired), but my wife and I would like to move out of Charlotte and retire to Florida in the next year. The property gives us a good amount of income, so we would like to keep it, but hire a property management company to manage it for us.
Can this be done cost-effectively, so that we still derive a decent income, but we can also move to Florida?
Bill & Margaret – Charlotte
Dear Bill and Margaret,
A professional property management company would definitely be a good choice for you, since the purpose of the company is to save money and handle the day-to-day operations. Depending on what you have been doing, a property management company may be able to help increase the tenant occupancy and help the property generate more income—off setting the expense.
Additionally, a property management company will be able to look at other potential investments that may be a good fit for you in the same area.
You are smart to look at hiring a property manager for your investment property—and with the right choice, you will be able to enjoy your retirement in Florida, while generating a nice monthly income to support yourself and your wife.
Thanks for writing into us! If you would like to interview Kuester Property Management in Charlotte, please give us a call at 704.973.9019.