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Should I Use a Professional Property Manager?

Is a professional property manager the right choice for your rental property?

Professional Property ManagerProfessional property management can make owning (and profiting from!) rental properties a hassle-free experience for you. The decision to use a professional property management company involves weighing the pros and cons. When you choose the right professional property managers, you can trust that experts are handling your properties and tenants.

Property managers generally take a small percentage of your property’s monthly rent in exchange for their services. However, managing a rental property on your own can be like taking on a second full time job! When you consider the time investment you would need to make to take care of your rental alone, and what your time is worth to you, you may find that a professional property manager is the more affordable choice.

Consider what you get in return – a hassle-free, essentially passive income stream – the decision to employ a professional property management is an easy choice for the majority of rental property owners. Also, you can count on your property manager’s years of experience and undivided attention to the ever-changing local laws governing rentals to make sure that your property is being properly maintained and rented to the right tenants without incident.

While the right property manager can greatly benefit any rental property owner, you might especially want to consider hiring a property manager if any of the following things are true:

  • You live far away from your rental property
  • You’re not a home maintenance guru
  • You don’t have at least 10-12 hours per month to deal with tasks related to your rental property
  • You don’t want to have to make yourself constantly available in case of emergency
  • You don’t have a good working knowledge of landlord-tenant law, and are not familiar with the legalese of lease agreements
  • You don’t ever want to have to worry about dealing with difficult or non-paying tenants
  • You are not sure you will be able to screen and select good tenants for placement

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  1. Laurie says:

    Property management companies can take care of a lot for you. You have listed a lot of great reasons why to go with a property management company. Thanks for sharing!

  2. Nash Rich says:

    I don’t own any property or anything, but I can imagine if I did, it would be nice to have someone take care of all the little things. I’ve lived in apartments before, and had roommates that kind of gave trouble when it came to paying their rent. That’s the one thing I definitely wouldn’t want to deal with, so having people do that for you would be awesome.

  3. In your article, you stated that when you consider the time investment you would need to make to take care of your rental alone, and what your time is worth to you, you may find that a professional property manager is a more affordable choice. I can imagine that owning and managing multiple properties could be very overwhelming to handle on your own. I wonder what tools property managers use to find potential renters.

  4. My brother is considering purchasing a investment property. He has some concerns that he won’t be able to manage two houses at once. I didn’t realize that a professional property management company stays up to date on local laws that govern rental properties. That seems like a huge asset my brother could use.

  5. A professional property manager seems like a good option for people that have a lot of properties and for people that live too far away to manage their properties. Because they can help to resolve conflicts and if necessary kick out and find new tenants they are a great advantage. Because property managers also want to get paid, they make sure that the tenants pay on time each month.

  6. You make a good point that a property manager has more time to devote their attention to chancing laws concerning rentals. It helps to have someone working with your property who is up to date and can keep up with changing law so that your business can profit the most from those changes. Plus, this will give you more time to attend to other things that may be more important for you to focus on since you can’t be managing everything at once.

  7. It’s great that this article mentions how the right property management company can help you have someone you trust to handle your tenants and ensure they’re properly taken care of. This could help you make sure everything’s taken care of. If you choose the right company, they could help you keep your tenants happy and make sure your grounds are properly taken care of. In order to choose the best property managers, you’d probably want to check online and look at reviews and get references from people you trust in the business so that you can find the best one for your needs.

  8. There are quite a few rental properties around my house, and we were curious about how you would choose the right management company to help you out with it. I really like that you say that they can help you if you don’t live nearby. It would be nice to know that you will be able to get everything done that you need to be successful.

  9. LNweaver says:

    I can see why it would be beneficial to get a property management service if you live far from your property. Transit could quickly eat into your profit if you had to travel a lot for tenant concerns. Remember, a management company turns your active landlord job into a form of passive income.

  10. I like that you mentioned the time commitment that comes with managing a second property. My wife and I want to rent out our vacation home. The managing is something we are still considering. I am leaning towards using a property manager to help.

  11. Using a professional property manager sounds like a great idea. We’re hoping to rent out our second home, and it’s hours away from where we live. I don’t think there’s any way to manage the rental ourselves, so we’ll have to hire a pro to help out.

  12. My mother is seriously considering hiring a property management company. She is really interested in the ability to have a hassle-free experience when dealing with tenants. After a long day working she cannot handle all this work on her own.

  13. safat jamil says:

    I agree, one of the satisfactory motives to rent a property management carrier is so that they assist you to fill vacancies. in spite of everything, if no one is renting out your house then you definitely are dropping cash on it. happily, most residential property management services have numerous methods of screening tenants to ensure the high-quality ones become staying at your private home.

  14. Silas Knight says:

    It’s good to know when a property manager is a good idea. It makes sense that living far away from the rental property calls for a manager. We want to rent out our second home, but we live hundreds of miles away from it; we’ll look into this some more.

  15. I like that you mentioned the issue of finding good tenants. This is something that good managers can offer. It can make such a difference to have quality people living in your property.

  16. Hiring property management professionals is not always economical. Rental property owners who have multiple property at different location and don’t have enough time for the management of such property should hire reliable property management professionals. Apart from this, those rental property owner whose time is more valuable could also hire professionals for the management of rental property. These are my personal view.

  17. We’re considering renting out our second home, so this is good to know. We do live far away from it, so if that’s a good reason to hire a manager, we’ll look into it. To be honest, I have no idea how to run a rental property anyway.

  18. Sherry Gajos says:

    I liked what you said about how the right property manager can greatly benefit a rental property owner is they are not a home maintenance guru and you don’t have enough time to deal with tasks related to your rental. My aunt owns a few rental houses and wants to free up some time and stop struggling to keep them all maintained herself. Thank you for the information about how the property managers can handle maintenance for you and save you a lot of time by handling the minutiae of renting for you.

  19. Gary Puntman says:

    It’s good to know that property managers take a small percentage of your property’s monthly rent in exchange for their services, like you said. You should talk to the manager beforehand to make sure you understand what the percentage they take will be. This will allow you to choose the right manager based on their pricing and what services they will be offering.