Being a landlord is more than just walking around to your rental properties to collect a rent check each month. Between dealing with emergency repairs, general maintenance and settling any disputes with tenants, you’ve got a lot on your plate! If you’ve ever felt overwhelmed, you may have considered partnering with a property management company to take some of that burden off your shoulders.
This post will cover a few of the signs that it’s time to bring in a team of experts to help run your rentals.
When should you hire a property manager?
Having a property manager isn’t right for every landlord, but if any of the following scenarios apply to you, it might be worth the investment to team up with one:
- You’re not interested in hands-on management: The top reason to consider bringing in a property manager is if you’re just sick and tired of being hands-on. If you see your properties as investments and you’re satisfied with just collecting the income, find a property management team to take care of the day-to-day hassles that come with being a landlord.
- You have a large portfolio: Maybe you like being hands-on—but you might not have time to take care of all your rental properties if you own multiple, especially if they’re not near each other. A property manager can oversee one or all of the rentals in your portfolio that you can’t attend to.
- You don’t live near your rentals: Owning rental properties gets infinitely harder and more time-consuming when you don’t live in the same town as your rentals. Instead of wasting time driving back and forth to your properties, just hire a local property management team. They’ll oversee everything while you kick back and relax.
- Your time is limited: There’s only so much time in a week to accomplish all of the tasks on your to-do list. If you’re responsible for lawn care, showing properties to possible tenants and making some repairs, you could wind up working 80-hour weeks. If you’re crunched for time, let a property manager take over a few of those tasks.
- You don’t want employees: Some landlords will just opt to hire handymen to take care of any day-to-day activities that they can’t get around to. While that’s a fine solution, it does come with its own challenges; for example, when you have a staff, you’re responsible for payroll and other legal requirements. With a property management team, you get all the perks of having a full-time staff but none of the associated headaches.
Let us be your property management team
If you’ve determined that it’s time to hire a property manager, then hire our pros at Valley Executives Real Estate & Property Management LLC. We’re a full-service team of property managers dedicated to relieving our clients’ stresses. Call us today to learn more about when you should hire a property manager or to get a quote for our services.