A landlord doesn’t always have an easy job. There are people to deal with, both good and frustrating, properties to maintain, both well-functioning and riddled with issues, along with financial and legal considerations to make. While hiring a resident manager may ease the burden some, a full-scale property management service offered by many property rental companies is oftentimes a landlord’s saving grace.
Here are a few reasons hiring property management is a great idea:
You have a lot of properties.
If your rental properties are piling up, you’re going to need help keeping track of the tenants, the paperwork, the finances, the maintenance…you’re no longer running a one-man show, so don’t try and muscle it out by yourself.
Your properties aren’t local to you.
If you don’t live near your rental properties, you’re not going to be the excellent landlord that your tenants need. And your reputation will, in turn, begin to falter. Don’t let that happen.
You don’t want to deal with employees.
It’s difficult enough running a growing business of rental properties, but tacking on the task of managing employees (like a resident manager, maintenance crew, etc.) is going to bog you down and take some serious time. Property rental companies will take the responsibility of managing everything to do with your rental property while you focus on growing your business.
Your legal situation could get sticky.
If your property is part of an affordable housing program, business can get complicated very quickly. Knowing the ins and outs and legalities of the system is imperative to your success. You’re going to need (and want) a property management company to take the reins and help you stay above board.
These are some quick reasons you’re going to love hiring a property management company to partner with you in your rental property ventures. If you’re wanting to dig deeper into what that partnership will look like, contact us at Applegate Properties and we’ll be happy to help out.