When Should a Landlord Hire a Property Management Company?
Owning a rental property requires a lot of time and effort. Whether you have a long-term or short-term rental, maintaining the property and keeping a good relationship with your tenants can be a full job in itself. As you begin to purchase additional properties, things can get extremely busy and when this happens, a property management company is a great way to ensure everything is taken care of.
What Exactly Does a Property Management Company Do?
Property management companies often deal with current and prospective tenants, collecting rent, marketing your rental(s), and handling any tenant complaints/pursuing evictions. Property management companies also handle the maintenance of your property to ensure it looks its best, is well taken care of, and deal with any repairs that need to happen.
When to Hire a Property Management Company
Utilizing property management services for your rental property is a great investment that’ll give you, the property owner, more time and will help save you money. But, with that being said, they’re not always beneficial to every landlord. If you’re debating on utilizing a property management company, here are some signs to look out for:
Your rental(s) are far from where you live.
You have several rental properties to manage.
You don’t have time to effectively manage your rental(s).
You’re having trouble finding new tenants and managing the ones you already have.
Tips for Hiring a Property Management Company
If you’re ready to hire a property management company for your rental properties, here are some tips for making the process less overwhelming.
Get recommendations from those you trust.
Consult with realtor(s) you’ve worked with in the past.
Utilize the National Association of Residential Property Manager’s website.
Are you ready to hire a property management company? Contact our team at RESOURCE360 today at 203.594.0360 or by filling out our contact form!