Do I Need a Property Manager?
People who have an investment property and are planning to rent it may be considering a property manager as opposed to individually handling the rental of the property. If this is your first time you may not know all that being a landlord requires and how much time is devoted to taking care of the property. If you are a veteran investor, you may think you have all the experience and knowledge but find that you are spending more time and expense managing the property than you thought or wanted to.
Property Requires Commitment
To manage a property efficiently requires a commitment to the routine management of the property. Maintenance and other issues surface and you must be able to respond to it. You must have resources available to you at all time. There is record keeping, book-keeping, forms, new codes and laws. You must ask yourself if you really want to deal with all this. A Property Manager has all the systems for documentation, record keeping, book-keeping, filings, forms, is up-to-date on current codes and laws, resources for the trades for maintenance and many other aspects to property management.
How Valuable is Your Time?
An important question is just how much of your free time do you want to devote to your investment property? If something happens while you are at work, or engaged in something else, do you really want to stop everything to deal with property issues? A property manager will free up your time by handling the issues and is available on a daily basis.
Another consideration is where your property location is compared to where you live. Even if the property is in adjoining city it may be a long commute depending on the time of day and traffic. If the property is further away then it is even more practical to have a property manager. A property manager is available to the tenants and can quickly respond to the tenants needs, especially if it is an emergency situation.
These are some of the reasons you should consider hiring a property manager. Please Contact Us and we will be glad to discuss your investmant property and what we can do to help ease your rental needs.