Are you a landlord who that owns several investment properties? Are you feeling stressed out because your work is just piling up? Do you have more work and more headaches than you can handle? If you answered “yes” to these questions, it may be time to hire a property manager to make your work easier and lift some of your hard work off your shoulders. Whether or not you should hire a property manager is a question that many landlords face and sometimes have a difficult time answering. There are certain things you should know about property managers that can make your decision much easier.
What is a Property Manager?
A property manager basically does exactly what the title states; manages your properties. They will be the one who shows the properties when they are available for rent, they will do the background checks and determine which tenants seem like the best fit, they will receive a phone call if something is broken, and they will handle all other odds and ends.
Pros of Hiring a Property Manager
Of course, as a landlord, I am sure you are considering the pros and cons of hiring a property manager. There are pros and cons to everything and the same applies when it comes to such. Of course, one of the biggest pros of hiring a property manager would be having someone to manager your rental houses for you. You will always have someone to show the house for you, manage the tenants, and whatever else you feel that they should do. This can be a great stress relief and time saver for you.
Cons of Hiring a Property Manager
One of the biggest cons of hiring a property manager would be the cost. Hiring a property management company can be more costly than hiring an individual property manager, so be sure to check out the cost for both. You will most likely have to pay a certain percentage each month of the total rent costs for your properties.
You Should Hire a Property Manager If…
I am sure that if you are thinking about hiring a property manager, you are asking yourself a ton of questions to help make the decision. If you live far away from your rental houses, have a limited amount of time, have a lot of rental properties, and can afford the cost of a property manager, you should most definitely hire a property manager to help you with your tasks.
When figuring out which company to go with or which individual person to go with, ask around. Ask your friends, colleagues, fellow landlords, or even Google reviews on property management companies near you. You can be picky and wait as long as you need to until you find the one right for you but you hiring a property manager will definitely be worth it if you are tired of doing things all yourself. Weigh the pros and cons in your mind and decide if hiring a property manager will benefit your life and your rental properties.