As any beginner or seasoned landlord knows, being a landlord is a tough job. You quickly become a wearer of many hats and must juggle a lot. If you’re struggling and are on the fence about hiring a property management company, here’s how to know if you need a property manager.
You Have More Than One Property
If you own more than one property, keeping up with rent collection and all your tenants’ needs can quickly become all-consuming. While you may be able to handle three or four properties, any more than that and you may not realize you’re neglecting duties here and there. This is especially true if being a landlord isn’t your full-time job.
While a property management company provides many services, they can assist you in attending to all of your properties.
You Struggle To Keep Up With Tenants
If you’re having trouble collecting rent, screening tenants, dealing with evictions, or taking care of damages, hiring a property manager may be the right option. Ultimately, a property manager’s job is to make the landlord and tenant’s life a little easier. They can help you run these complicated processes so you can receive your money without having to keep track and juggle all the responsibilities yourself.
You’ve Gotten Into Unnecessary Legal Trouble
Property management services are great at taking some of the legal onus off of landlords. This is especially true if you’re a beginner landlord who may not be aware of all the rules and regulations. They can help you write a property agreement to cover all your bases. In addition, they will help enforce these rules and agreements as well as inform you of your rights as a landlord.
You Have a Hard Time Marketing Your Property
If you’re not sure how to market your property and you’re having a hard time getting tenant applications, property managers can help you with that as well. They can hire cleaning services, professional photographers, and create a listing for you. As a result, they have a better idea of what tenants want to see in a rental property and can help you get the most money out of your property.
Knowing if you need a property manager is as easy as asking yourself whether you struggle with anything mentioned above. There’s no shame in asking for help, and in fact, it can make your life markedly easier. Contact your local property manager today to get started.