Currently, about 80% of rental property owners like to manage the rental properties themselves to save on management fees without knowing what that cost them over the years.
If you are wondering whether or not you should manage your own rental property instead of hiring a professional, below are a few questions that will help you determine the right path to take.
First, do you know everything a good property manager does? So much more than picking up a rent check…
Are you qualified for the job? Do you have the knowledge and experience it takes to avoid costly mistakes and bring the best return?
Do you understand the serious RISKS of mistakes and missed details?
Do you have time? Successful property management requires you to be proactive and available 24/7, putting your personal life on hold for unexpected issues, that can, and will arise.
And truthfully, is this how you really want to spend your time? The experienced property manager has seen it all, drug and crime activity, fire, natural disasters, family crisis, tenant excuses, and evictions… Personally handling tenants is stressful. And remember, it’s 24/7.
Are you anxious to apply?
And, most importantly, are you sure self-management actually saves you money?
Using a professional property manager actually pays for itself: vacancies are filled faster with great market rent rate, you get volume discounts on services and equipment, and you avoid costly mistakes. Plus, it’s often tax deductible.
So let’s break it down. Are you really willing to take on:
– A demanding, complex job?
– Significant financial and legal risk?
– Around-the-clock availability?
– Regular unpleasant encounters?
– and the constant feeling that you’re not trained for this?
… all just to save yourself the cost of your daily cup of coffee?
Here at Real Property Management, we run your rental property like a business, because that’s what it is! So call us and learn why tens of thousands of property owners across the country gave themselves the pink slip and ended up saving valuable time, headaches, and yes, money—call the nationwide leader today!