Using the internet can make the job of being a landlord easier

Being a landlord can be easier that you think.  Many people are holding on to their real estate these days, some by choice, because they are waiting for a stronger market, and some by necessity, those that simply cannot sell their homes.  What this means is that there are many first time landlords out there, a job that can be a bit daunting, especially if you don’t live near your property.

If you are lucky being a landlord is easy and you get a monthly check with no real involvement.  Many landlords have a more difficult time however, chasing down rent, making repairs and having to constantly oversee their tenants and their properties.

Here in Sevier County, more specifically Gatlinburg & Pigeon Forge, being a landlord can be surprisingly easy. One of the many companies who manages the overnight rentals that dot the mountains in our area is Chalet Village Properties. Management companies like Chalet Village take care of everything from advertising, leasing, cleaning and general maintenance of the overnight rentals.

Another thing management companies do that makes our job selling real estate much easier is to document the rental incomes of the properties for sale. This documentation makes it much easier for a buyer to decide which rental property is the right choice for them.

It’s an amazing time to be in the real estate business. I know everyone bemoans the fact that sales are down but I just can’t help but be in awe of the deals some of our investors are getting. One, who shall remain nameless, says ‘It’s like a garage sale for the wealthy.’ It may sound callous but that attitude is pervasive with many of our cash buyers right now and even though they’re getting deals they are also helping distressed sellers and our local economy.

Here in the Great Smoky Mountains of East Tennessee the rental properties and the income they generate are a crucial part of our economy. Particularly, the real estate industry in Gatlinburg and Pigeon Forge.

So far this year the bad economic news hasn’t affected our rentals much. The looming crisis for our best rental season, the Fall leaves changing color, is a shortage of gas in several major southern cities. We have plenty of gas to go around here but it seems that many of our visitors from such gas starved areas as Atlanta, Nashville, and MIami are having a tough time making the choice to place their families in the car or mini-van for a vacation.

I fully expect the fear of travel to quickly subside once the gas stations in those cities have full tanks again. Hopefully, in the meantime a few travelers will go home and tell everyone, “they have gas in East Tennessee.”