If you are wondering how to successfully invest in a property in Hollywood to gain a positive return on your investment, Turnkey Rental Property is the answer!
A turnkey rental property is a property that already has a tenant or management in place. These properties have been fully renovated and repaired. They are ready for tenants to “turn the key” and move in, hence the term “Turnkey Rental Property.” Some of these turnkey properties may already have tenants when being bought.
Furthermore, these properties are managed by a turnkey property management company. The company manages the property for you by taking care of repairs, rent collection, and tenant relations. As a turnkey property owner, all you receive is a statement at the end of the month, and a check for the net income earned after all expenses and mortgages are paid.
Turnkey properties are immensely popular if they are in a good market, like Hollywood, and managed by an experienced turnkey rental property management company. Investing in Turnkey property gives you the following benefits:
1. Ready for Rent
Since these properties have already been renovated and repaired, you’re ready to welcome tenants to your property. You can offer these properties for long-term rentals or even vacation rentals – a lucrative option since Hollywood is a popular tourist destination.
2. Demanded by Renters
Turnkey rental properties are usually very desirable to renters as they are equipped with more modern features and amenities.
3. Ready Income
These properties are ready for moving in, taking less time than other properties to generate rental income. You will be able to make money immediately and enjoy a predictable and steady cash flow.
4. Passive Income
As a turnkey property owner, you do not have the headache of dealing with property maintenance and repair hassles. Such management tasks are left to a turnkey rental property management company, and all you do is enjoy earning the passive income.
5. Long Distance Investment
If your local property market is currently not profitable, the concept of turnkey rental property investment allows you to invest in a property across the country. The turnkey rental property management company makes this long-distance investment extremely easy and profitable for you.
So, if you’re currently thinking of investing in a rental property in Los Angeles, Equity Residential can guide you. Going the Hollywood landlords’ way, i.e., opting for a turnkey rental property investment option, can help you increase your earnings and offer tenants improved living standards.
Do you own a property and require a reputable construction company to renovate it for you? Get in touch with Streamline Builders, Inc. We provide our clients the highest quality renovations, including multifamily renovations, commercial remodels, senior housing renovations, and more. Our team ensures value-engineering and management of the complete project from start to finish. Reach out to us for a free consultation!