Many rental property owners wonder if there is any point in hiring a professional property manager. Some of you might think it would be better to just do it yourself. There are two very simple reasons for why you should hire a property manager, and those reasons are focus and money.
A professional property management company is able to focus on the operations and needs of rental properties day in and day out. It’s all we do. Other professionals, such as real estate agents, might be more focused on sales and less focused on property management. We keep all of our attention on your property, your tenants and your cash flow. Your time is very valuable. You might be doing something else professionally, or perhaps you are a real estate investor. Whatever it is, your time is certainly better spent on those pursuits than on your rental property, even if you have a growing portfolio. Our ability to focus on your property will help it run better and keep it rented with high quality tenants.
Normally, people see money as a reason not to hire a property manager. They think doing it themselves will save them money. Actually, it is more expensive not to have a property manager taking care of your rental. There are a few reasons why. First of all, most of what you spend on property management is tax deductible. Whether it’s a management fee or a leasing fee or even the maintenance and work that gets done around the place at a cost to you, those expenses can be deducted on your taxes. When you have a professional property manager taking care of your place, good things happen to you financially. You won’t have to worry about getting sued, which is pretty important. Most landlords don’t think about the potential lawsuits involved in renting out property, but it can happen, especially if you misunderstand the law. Also, you will have fewer vacancies when you use a property manager for tenant screening and property marketing. The property manager will focus on getting your place rented. We also have access to more marketing and advertising resources. Not only will you be able to keep your home rented, you may also get a higher rent because of the way property managers are able to market your property.
If you have any questions about hiring a property manager, please don’t hesitate to contact us at Realty Services Property Management. You can also check out our blog on what fees and costs to expect when you do hire a professional manager.