Is Hiring a Property Manager Right For YOU?
We hope this article helps you answer the big question: “Should I hire a property manager?
Rental Real Estate investing can be very profitable and with many rewards; but also many responsibilities when it comes to Rental Property Management.
Responsibilities of being a Landlord
As a landlord you will be responsible for more than just collecting rent and paying off your mortgage. The reality is that as a land-lording can be very costly and time consuming. Let’s see why…
Preparing and advertising the property for rent can be costly because nowadays putting a “for rent” sign is not enough. You will need to pay for some online advertising, and while your property is vacant, you will cover all expenses related to your rental property like HOA dues, and of course the mortgage. Click the link to learn more about
finding great tenants.
Screening future tenants can be very time-consuming. You will need to meet with them, run background checks, call previous landlords, etc. Click the link to learn more about
finding great tenants.
There are also unforeseen expenses that may come up.
Repairs and maintenance. This is why it’s important that you have a couple of months’ reserve of mortgage payments for each property for any unexpected expenses.
As a landlord you will carry
legal responsibilities that can be very confusing. Knowing the law is very important.
Now it’s time to decide if hiring a property manager is right for you. It is true that many landlords manage their own properties, especially landlords with only one or two rental properties.
Responsibilities of a Property Management company
Most
Property Management companies already have all the proper systems in place to make sure your rental property is well-managed.
Property Management companies will market and advertise your rental properties, manage tenants, collect rent, and most importantly, coordinate repairs hopefully at a fair price and not up-charging you, and make sure that you're in compliance with the law.
Our main purpose as
your property manager is to give you peace of mind that your rental investment is being handled with care, your tenants are treated with the up-most respect and service minimizing tenant turnover, you get repairs at a better price since we build good relationships with contractors and never up-charge on services, all of these so you can get the most out of your investment.
Learn more about how to become a landlord in our other blogs:
You can also choose to download the
Rental Real Estate Investor Guide to Become a landlord.
