Investing in property is a rewarding pursuit. But for some landlords, the responsibilities of running their property are more than they can handle.
That’s why property management services are a popular solution. Trusting your buildings to a professional could be the best way for you to enjoy the benefits of owning property without having to worry about the day-to-day headaches that can arrive.
Read on to learn more about when you should consider hiring property management services.
When You Have Multiple Units
If the extent of your rental properties is one or two single-family homes, you may be able to handle the management duties yourself. But for those investors with multiple properties, having a reliable professional may make more sense.
The more units you have, the better a system for record keeping, rent collection, and service must be. A good landlord responds to her tenant’s needs quickly and professionally.
When You Don’t Want to be Hands-On
Evaluate your ability to address the concerns of every one of your renters. If you have doubts that you can handle them on your own, it’s time to seriously think about property management services.
Are you the type of person who wants to work directly with contractors, handle marketing, and deal with complaints? If so, you might be best suited to manage your own properties.
But it not, hiring a professional to take care of that side of your business is a sound investment.
When Your Time Is Limited
Perhaps you invested in property to supplement your primary income. If your daily responsibilities other than owning property are so time-consuming that you can’t be a present landlord, consider taking on a property manager.
Depending on the number of rental units you have, your duties as a landlord may require a couple hours a week or a nearly full-time schedule. Think about the time you’re realistically willing to spend personally dealing with tenant issues.
When You Live Far From Your Property
If you live 50 or more miles away from your units, your tenants would probably be better served by having a more local property manager. It also won’t be convenient for you to make regular trips to address their issues.
Keeping your tenants happy should be a top priority. If you can’t be physically available when they need you, at least form partnerships with local vendors who you can call as needed.
When You Can Afford Property Management Services
Property managers generally charge either a flat fee equal to one month’s rent or between 4-10% of property’s rental income. Our pricing is quite affordable and includes a full suite of helpful services.
Calculate your expenses and income to see if hiring management services makes financial sense. Make sure you factor in the time and worry you’ll save by hiring a trained professional to maintain your property.
Your Property Management Experts
From collecting rent and screening tenants to handling maintenance requests, we’re the experts in property management.
We believe in friendly, thorough service and we want you to get the most out of your investment. If you’re in the San Gabriel Valley, Inland Empire, or Orange County and considering hiring a property manager, let us see how we can help you.
Contact us today for a free rental analysis.