There is no single perfect investment property that’s going to make sense for every investor looking to buy. When you’re looking at potential acquisitions, you don’t have to choose something that’s perfect – you have to choose something that’s perfect for you.
That usually comes down to finding a company with the experience you need and the value you seek. We recommend you research reputation and experience.
Renting out a property in Albuquerque can be profitable, especially when you’ve got a well-maintained home and a highly qualified tenant. This type of real estate investing also comes with risks, however. One of the major risks is vacancy. If your property is unoccupied for longer than a few days or week, you start to lose real money. You also run the risk of vandalism and deferred maintenance.
Tenant turnover is a problem for real estate investors because it’s expensive. Lowering your tenant turnover will maximize your return of investment and help you avoid vacancies. To keep that turnover rate low, it’s important to ensure your best Albuquerque tenants are happy living in your rental home.
Before a tenant moves in, a proactive Albuquerque landlord will sign the lease agreement and talk about the expectations and responsibilities that are required during the tenancy. This is your best opportunity to establish an open, respectful, and communicative relationship with your new tenants.