Why Use a Professional Property Manager
Professional property management can make owning (and profiting from!) rental properties a hassle-free experience.
For most, the decision to use a professional property management is a simple cost/benefit equation. Not only are professional property managers experts at handling properties and tenants, they generally take only a small percentage of your property’s monthly rent in exchange for their services. When you consider what you get in return—a hassle-free, essentially passive income stream—the decision to employ a professional property management is a no-brainer for the majority of rental property owners.
While the right property manager can greatly benefit any rental property owner, you might especially want to consider hiring a property manager if any of the following things are true:
- You live further than a couple of neighborhoods away from your rental property
- You’re not a home maintenance guru
- You don’t have at least 10-12 hours per month to deal with tasks related to your rental property
- You don’t want to have to make yourself constantly available in case of emergency
- You don’t have a good working knowledge of landlord-tenant law
- You don’t ever want to have to worry about dealing with difficult or non-paying tenants
Primary functions of a property manager:
- Achieve the objectives of the property owners,
- Generate income for the owners,
- Preserve or increase the value of the investment property.