When Should You Hire a Property Management Firm?
First of all let’s look at what a property management firm can do for you. Most property management companies can custom tailor their services to your requirements and can include these services:
- Market your rentals.
- Property check list reports.
- Deal directly with tenants.
- Collect rent.
- Handle maintenance and repair issues.
- Respond to tenant complaints.
- Help with the eviction process.
- Provides property management experience.
- Property Management Companies are independent contractors and not employees.
When should a Landlord hire a property management company? There are many factors to consider, here is a list to help you decide when hiring a property management company.
You are not near your rentals. Distance, if you are not near to your properties dealing with the issues that come up can be difficult. Hiring a local property manager can deal with issues that arise.
You are not a hands on owner. Many landlords enjoy challenges of owning rentals such as finding qualified tenants, property maintenance and repair. If as a landlord you have no interest in the day to day management of real estate then hire a property management company.
You have lots of rental units. The more units you own the more you will benefit from hiring a professional and experience management team.
Expertise and Experience in Rental Property Management. Professional property managers have taken hundreds of hours of courses, have had years of experience throughout their careers. They have also created relationships with local services to help you maintained and repair your property.
Your time is important. Depending on how you like to schedule your time you might be better off hiring a property management team so you can concentrate on what you do best.
You do not want to be an employer. Property Management companies are independent contractors, so you will not have to worry about payroll or other legal requirements.
For further information about homes in lower Fairfield County, Connecticut call David Popoff
at William Pitt Sotheby’s International Realty in Darien, Ct.