As a single-family Mesquite rental property owner, you are also an investor. Whether you are just starting out or already have excellent rental property investment portfolios, it’s helpful that you know the difference between property management and real estate asset management. While new investors typically confuse the two, the actuality is that property managers and asset managers play two very different roles in rental property investing. To create and maximize a versatile investment portfolio, you need a property management partner that can do both. Let’s begin by looking at how Mesquite real estate asset management can help you build your single-family rental property portfolio.
Why You Need Asset Management
If you’re one of the single-family rental property owners, you got into this business to generate profit. And while there’s nothing wrong with that, it’s vital to bear in mind that your rental properties are also assets. Eventually, these assets will appreciate in value and can provide a significant return on investment. But for your assets to reach their full potential, you need to actively manage them.
Real estate asset management is all about protecting and growing your assets. It’s not just about ensuring your properties are well-maintained and generating income today, but also about ensuring they will continue to for years. That’s why a good asset manager will always look for ways to improve your properties and increase their value.
How Asset Management Differs from Property Management
Since you’ve discovered more about asset management, let’s compare it to property management. While both disciplines are critical, they do have some key differences.
Property managers are liable for the day-to-day operations of your rental properties. This involves marketing and leasing, rent collection, maintenance and repair, and evictions. In a word, property managers see to it that your renters are comfortable and your properties are operating well.
On the other hand, asset managers focus on your assets’ long-term growth. This means identifying opportunities to improve your properties and increasing their value. Asset managers also help you come up with a strategic plan for your rental property portfolio. This plan will describe your goals and objectives and the steps needed to reach them.
While property management is imperative, asset management will help you maximize the return on your investment. Rental property investors who work with a property management company that also handles real estate asset management services make more profits and see their portfolio growth.
At Real Property Management Countryside, we are the best option for investors looking for quality property and investment portfolio management services. We deliver various services to help you optimize your current properties and increase your rental property portfolio. Contact us online today to learn more.
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