Should I Hire a Property Manager?
So let me guess: you own properties and are trying to decide if you should use property managers or not, and all your friends and family have told you one thing or another about what they think you should do based on how they feel about the issue. Well, this article will help you make this decision by giving you the real information about what you should consider when presented with the decision of whether or not to hire property managers to handle the affairs of your tenants.
What is a property manager?
What do property managers do? They do the things you probably don’t want to do. That list of things includes duties like collecting the rent, evicting the tenant if necessary, taking complaint or maintenance calls in the middle of the night from your tenant, and much more. They are designed to all the hands-on stuff so you don’t have to.
What should I do?
Depending on your current circumstance as a property owner, it may or may not be a good choice to use a property management company (PMC). Here are some essential questions that you must ask yourself before you say yes or no to a PMC:
An overabundance of Properties
Do you own one or two properties with tenants in them or do you own six, eight, or more? The more properties you own, the harder it is to maintain them all yourself. Yes, it costs money to hire a PMC, but just because it costs money doesn’t mean it’s not going to be worth it, both financially and monetarily. You have to be honest with yourself when you have a ton of properties to manage and consider getting some help.
Driving is getting tedious
Does it take you 45 minutes or longer to drive to your properties when you receive a call from your tenant? This can be very tedious, not to mention time-consuming and gas-consuming. And especially if you have a lot of properties that are all a good distance away from your residence, you should really consider using a PMC.
You don’t want to worry about it
Experience and observation have shown that most landlords if given the option, would prefer to not have to take every call from their tenant, make every house call, and arrange every service company when necessary. This is largely because many people who own properties are doing it as an investment; in other words, to make money. They have other jobs that take precedence over the upkeep of their rental properties. The piece of mind someone experiences knowing that professionals have got it covered can be worth its weight it gold, and then some.
Time is precious
What’s the most common response when you ask someone “So, how’s life? How’s everything going?” My guess: “Well, staying busy.” In the modern world that we live in, being busy has transitioned from a negative life characteristic to a straight-up reality for most people. We are all busy, trying to find time to do the things that matter the most to us. If you own properties and have another job, we know how busy you are. If you are so strapped for time that you barely have time to grab a bite to eat during the day, then you should absolutely consider hiring a PMC. They can take care of all of those little things that always take up more time than expected, freeing you up for things that are higher on the priority list.
After reading this article, if you find that many of these questions don’t apply to you, then getting a property management company may not be necessary. But if you answered yes to one or more of the proposed questions, you should be considering it.
Should I Hire a Property Manager?
Article by Clear Content Marketing