“Should I hire a management company?”
This is one of the biggest decisions you’ll make as a landlord. The process of managing your own properties can be time consuming and costly. For that reason alone, a property management company might make sense.
Ten reasons that you really do need a management company:
- We properly vet tenants by running background screenings
- You don’t live near your rental property – we do!
- You don’t have to manage multiple properties or rental units alone.
- If you view your rental property ownership strictly as an investment, then hands-on management is not in your best interest.
- You are inundated with management and maintenance tasks.
- Management companies can reduce vacancy time and advertising costs.
- Your tenants do not pay on time – we fix this.
- Your tenants are not maintaining the property – we fix this too.
- If your tenants have an “ownership” feel of the rental unit and have become adversarial about repairs – we step in so you don’t have to.
- You don’t know or understand the law. Ignorance can be costly; so we break it down for you so that you can gain insight in an easy to understand way.
There are many more reasons to hire a management company – evictions, maintenance issues, preventive maintenance needs, holding security deposits in accordance to Statues, etc – But you get the picture. I’ll leave you with my top reason to hire a management company: An Arm’s Length Transaction. That is the strongest asset that a management company brings to the table. We have seen and dealt with any issues you can think of. and we know how to respond accordingly within the Statutes. Every issue and problem will cost you time, energy, and money.
Bottom line, help your bottom line by hiring a great management company.
Denise Helbig, President
Westcoast Management and Realty, Inc.