When it comes hiring a professional property manager you have to consider many things. Being an owner of investment or rental property you know two things to be true – that owning real estate is an investment in your and your family’s future. And It take a lot of time and resources to manage property correctly. It is easy to get caught up in the do-it-yourself mentality when it comes to property management but sometimes even the most dedicated individuals can use a little help.
Here are 5 signs you need to hire a property manager.
You aren’t close by.
Managing a property is often a hands on experience. If you are too far away to frequently check on a property or aren’t able to swing by when a tenant needs you it’s time to think about hiring a property manager.
You are simply too busy.
Your most valuable asset is your time, so if your property is taking time away from your work or your family it’s time to start thinking about hiring a property manager.
You don’t have the resources to manage your property effectively.
Property managers have the tools and the network. Leasing documents, software designed to help manage real estate, an updated website and easy to find listings. We can go on, but these are just some of the tools property managers use on a daily basis that help manage property.
You aren’t on top of market trends.
Property management companies know the market. Pricing your property for rent is a bit of an art. Price too low and you risk losing valuable income. Price too high and your property might sit vacant. Either way is a lose lose. Hiring a property management company that knows the market will benefit you in the long run. Your tenants are causing problems.
Property management is hard work. Its happens to everyone that owns property, every once in a while you get a tenant that can’t seem to change a light bulb without assistance. Or worse your tenants are causing problems. Everything from noise complains to breaking appliances, a bad tenant is something that a professional knows how to deal with in a manner that complies with current Real Estate Law, while also supporting you and your property.
To find out more about what we do as a Property Manager and what we can do for you, give us a call.