Do you need a Property Manager?
Trying to decide if you need to use a property management company to manage your property is a big decision. Hiring a property management company can be a huge help to you but they are not cheap. Management companies deal directly with your tenants, so you do not have to worry about your home. They will market your rental, collect rent, handle all maintenance requests, and respond to tenant complaints so you do not have to. They will give you peace of mind knowing that your investment is in good hands.
Why should you hire a Property Management Company? With so much at stake, it’s often worth hiring a property management company that has expertise and experience.
- You do not live near your rental property. If you are planning on moving out of the area hiring a property management company can be invaluable in dealing with the many issues that you will not be able to handle from afar.
- You are not interested in hands-on management. If you have no interest and want nothing todo with day-to-day management then you should consider help to manage your property. They will market and advertise your property and they know how to find the right tenants.
- You have lots of properties or rental units. The more rental properties you own the more you are likely to benefit from a management company. They can keep all of your records organized.
- Your time is limited. Even if you enjoy hands-on management, you might not have much time to answer complaints/calls from your tenants. Maintaining a rental property comes with a significant amount of time-consuming responsibilities. Rental properties take time and effort to manage.
- Save money by letting a property management company handle property repairs. By hiring a property management company, you will be able to utilize the property management company’s professional and experienced maintenance staff. They have access to bonded insured, and licensed contractors. Not only will your property manager get you the best work for the best price, but they will also oversee any necessary maintenance projects.
- Ensuring that you are in compliance with housing regulations and property laws. There are a multitude of applicable laws and regulations to abide by when renting and maintaining your rental property. These include local, state, and federal regulations, as well as fair housing regulations. A property manager can help you avoid lawsuits by keeping your property up-to- date and in compliance.
