Posted on: 6 August 2017
Do you own one or more pieces of real estate that you'd like to turn into rental properties? Are you looking forward to being a landlord so that you can take more time off of work? While being a landlord can be a great way to earn extra money, hiring someone to manage your properties is almost always a better option than trying to take care of everything yourself. There are a number of reasons why you should consider this, some of which include:
More free time: If you're trying to handle the property management on your own, you'll find yourself being on-call 24/7. Even if you tell your tenants that you're only available at certain times, you're almost certain to get frantic calls in the middle of the night about toilets that have stopped working or heating and cooling systems that are on the fritz. When this is the case, it can be difficult to plan a vacation or to go on a minor trip, for fear that something will need repairs while you're gone. But when you hire someone to manage the property for you, the property manager will be able to take care of these things for you so that you have more time free to do other things.
Tenant screening: It can be difficult to decide exactly who you should allow to move into a particular house or apartment. Federal laws forbid discrimination based on age, sex, and a variety of other protected classes. It's extremely easy for an inexperienced landlord to accidentally illegally discriminate or to appear to illegally discriminate against a particular applicant. The employees of a property management company, on the other hand, have been fully trained in how to screen potential tenants so as not to discriminate or to appear to discriminate against anyone illegally.
Landscaping and upkeep: Part of managing your properties includes keeping the exterior looking nice so that tenants still want to live there. If you try to handle this yourself, you could find yourself working harder than you'd like. You could try to hire a landscaping company, but it's difficult to find one that is reliable. A property management company already has relationships with reliable landscapers and handymen in your area. Instead of worrying about whether or not the service professionals that you've chosen are the right ones, you can be confident that your property manager has everything taken care of.Share