When Do You Need a Property Manager?
There are many decisions that you will need to make when investing in Real Estate. One of those decisions is whether or not you need a property manager. Property managers have many uses and are a great idea for those who have many properties to handle and wish to have a life away from their Real Estate. A property manager is your buffer between your tenants and your family.
Your Benefits of a Property Manager
The benefits of a good property management service are numerous. To begin with you will find that they eliminate the need for tenants to have your phone number. If you’ve dealt with rental properties before without the buffer of a property manager you are surely aware that it doesn’t matter what time of the night of the morning things go wrong, you are the first person your tenants call to fix those things. A property management service is able to handle many things for you while letting you sleep through the night. It’s no small favour when you consider the multiples of tenants as you purchase more properties. A few late night phone calls and many rental property owners are almost ready to get out of the business of renting properties.
What can go wrong?
Property management services have qualified staff or maintenance people that can handle many of the things that go wrong with rental properties. The fee of these services may be included in your fees for using the property management service in general or certain services may charge additional fees. Regardless your property manager or property management team is often the best source to find contractors to handle the repairs. It’s nice to know that you won’t be getting called early in the morning calling around for a plumber on the first exceptionally cold day of Winter. Moreover it’s nice to know that someone else can deal with some of the negative things about owing rental properties.
What will your tenants be like?
My personal favourite reason to seek the services of a property management service is that they are qualified to handle the legalities of taking care of tenants who cannot make the rent for months on end. This is after all a business and while you can relate to the circumstances that leave some people unable to pay their rent you need the income from your property in order to make your bills. It’s much easier to leave some of the less pleasant tasks to someone else, especially if you are a softy for sob stories.
What if the tenant leaves?
Property managers also handle the advertising for your property and the cleaning up and touch ups that are necessary between tenants. They also allow you to take holidays knowing that your properties and tenants are in good hands even when your aren’t there to over see everything. Everyone needs to take a break sometimes it’s nice to know that with a reliable property manager you can actually sit back and relax while taking those breaks without worrying about all the particulars of the properties you own so far away
Step into it…let the team take over
If you are going to invest in Real Estate, this is one of the most worry free ways you can take action on. The more properties you have, the more sense it makes to utilize the services of a reliable property management team.