Turning an inherited property or a summer house into a rental income source can be a smart financial move. However, managing a rental can be time-consuming and stressful. By using a professional property management service like QuickLets, you can maximize profits while enjoying a hassle-free experience.
Why Use Property Management Services?
1. Time Savings
Managing a rental property involves tasks such as marketing, tenant screening, rent collection, and maintenance. QuickLets takes care of these responsibilities, allowing you to focus on other commitments while ensuring your property runs smoothly.
2. Reduced Stress
Property ownership can come with challenges like tenant disputes, emergency repairs, and legal paperwork. QuickLets’ experienced team handles these issues, providing peace of mind while ensuring a seamless rental experience.
3. Enhanced Freedom
With QuickLets managing daily operations, you gain the flexibility to invest in more properties or focus on personal goals. Your rental income keeps flowing without the need for hands-on involvement.
4. Comprehensive Services
QuickLets offers a complete range of services, including tenant sourcing, rent collection, property inspections, and maintenance. Their expertise ensures your property remains in excellent condition while generating maximum returns.
Real-World Scenario: Estimating Your Rental Income
Let’s say you own a three-bedroom apartment in a prime location such as Sliema or St. Julian’s, where the average rent is around €1,200 per month. This means you could earn approximately €14,400 per year from your property.
QuickLets typically charges a management fee of around 10% for long-let properties. After deducting this fee (€1,440 annually), your net income would be €12,960 per year.
The Bottom Line
By partnering with a professional property management service, you can turn your extra property into a reliable source of income without the usual headaches of being a landlord. QuickLets ensures a steady cash flow while handling the operational aspects, making the process both profitable and stress-free.
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