Regardless of how many properties you own or manage yourself, it could be one, three or even ten; hiring a property manager is a sound decision. In this post, we explain exactly how our landlords benefit from using a property management service.
A landlord and a property manager are two entirely different roles. There are many reasons that compel a landlord to hire a property management agency for the overall management of their home.
You Do Not Live Close to Your Property
If you are not located near to your property this is a prime factor in taking the decision to hire a property manager to look after things for you. Tenants need a quick response when something stops working and even with the best will in the world, if you do not live close-by, the traveling time, not to mention the cost of fuel will all add-up.
You Have Limited Free-Time
Most people who invest in property are busy people with lives that already place a demand on their so-called free-time. Running and managing a property takes time and even those with full-time jobs report it a struggle to respond to tenant requests promptly, chase contractors, and stay on top of their rental collections.
You Have a Number of Properties
If you manage multiple properties, it can sometimes be a challenge to keep track of everything. While you may have managed with one or even two properties in the past, there will come a time where there are just too many things to manage and the process becomes more of a burden and a drain on your time. You might even let down tenants or contractors without the intent to do so. One person can only do so much.
The Legalities of Property Management
Property Management legislation changes all the time. Staying up to date with the requirements is essential to protect your investment and safeguard you from any tenant actions. Working with a property management company can reassure you that your property, your needs, and ultimately your investment are protected.
These are four of the key reasons why landlords are motivated to hire a property management agency to take care of all matters on their behalf. When you find the best property management company for your needs, you will notice a significant difference in the time you spend managing your property and feel released from the burden of always having to be available and ready to act should something go wrong.