Have you asked yourself the question – “Should I hire a property management company?” There are many reasons why a landlord would want to hire a Professional Property Manager. Deciding whether or not you should hire a manager doesnít have to be an agonizing decision. †It really just depends on your own needs, level of†commitment, and expectations.
Why would you want to use a property management company? A typical property manager†will interact directly, on your behalf, with applicants and tenants. †Managers will usually market and advertise your rentals, meet with prospects to host showings, collecting rent, deposit money to your bank account, and coordinate repair issues. They are also the first line of defense when responding to tenant complaints and will even stand by your side when you have to pursue an eviction or get sued.
An excellent property manager will have the heart of a teacher, and voluntarily keep you updated with regular communication. †Above all, the main purpose of a property manager is to give you peace of mind that your investment is being handled with care.
Some key items you should seriously consider if you are thinking about hiring a property management company are:
- How many properties do you own? When you start to deal with multiple properties and dozens of tenants, you should consider turning some of them over to a professional Ė especially if you have a separate full-time job.
- If you live over 50 miles away and have more than 2 units, you should consider talking to a local Property Manager who operates in a closer proximity to your rental property.
- Are you not detail oriented?† If you are not an organized person, then you should consider giving the responsibility to a professional.
- If you have no idea what you are doing, and donít want to learn, then donít try to do it yourself.
- Are you already super busy and canít dedicate 2-10 hours a month for your properties.
- Does your budget and the income from the property justify paying a property manager?
- If you feel like your property is vacant too often, then perhaps you need help with your marketing.
- If you are not a ďserviceĒ person, and are often bothered and bitter by regular maintenance calls from tenants, then you probably should take the role of silent investor, and leave the management to someone else.
- Contractors are often needed to maintain the property. †If you donít feel comfortable researching, hiring, and double-checking their work, then you should probably hire a manager.
If you are in the Denver area and would like to discuss how Aviva Properties can help you, please contact us at 303 835-4167.