7 benefits to hiring a property manager: Managing your own investment property may seem like the thrifty thing to do. After all, a property manager will charge you to manage your rental home, so why not do it yourself?
One reason is that an experienced property manager, spending no more money than you would spend yourself, can easily and efficiently manage your property while you live your life. A good property manager knows the most reliable vendors to use to maintain your home, the appropriate legal experts to deal with problem tenants, and has the infrastructure to handle issues that may arise at inconvenient times.
Here are 7 benefits to hiring a property manager, but there are a lot more.
To read more about property management, click here.
One reason is that an experienced property manager, spending no more money than you would spend yourself, can easily and efficiently manage your property while you live your life. A good property manager knows the most reliable vendors to use to maintain your home, the appropriate legal experts to deal with problem tenants, and has the infrastructure to handle issues that may arise at inconvenient times.
Here are 7 benefits to hiring a property manager, but there are a lot more.
To read more about property management, click here.
1. Late night phone calls
A good property management company, like All County®, has an emergency contact line tenants can call in case of an important problem. If you’re managing your property yourself, this call will come to you. Imagine your cellphone ringing at 2:00 AM, with a tenant insisting that their clothes dryer isn’t heating up properly.
An emergency? The tenant says they have an interview in the morning, and they need to wear their lucky shirt. But what can you do about it during the night? This is an appliance. Is it even your responsibility?
If you have a property manager, the emergency line at their office will to take the call, reassure the tenant that someone is listening, determine if the dryer really is your responsibility to fix, and inform the tenant about how to put in a maintenance request.
All you have to do is read the email from your property manager once the problem is taken care of.
An emergency? The tenant says they have an interview in the morning, and they need to wear their lucky shirt. But what can you do about it during the night? This is an appliance. Is it even your responsibility?
If you have a property manager, the emergency line at their office will to take the call, reassure the tenant that someone is listening, determine if the dryer really is your responsibility to fix, and inform the tenant about how to put in a maintenance request.
All you have to do is read the email from your property manager once the problem is taken care of.
2. A needed vacation
Your day job has been taking all your time, so you plan a vacay with the family. A well-needed camping trip to spend family time under the stars. But as you’re packing the car, a hysterical tenant calls to say that she is filing for divorce, and wants the locks changed on her house immediately.
The tent goes back in the closet, and your son goes back to his video games. Instead of time with the family, you are off to change the locks on your rental home.
A property manager, like All County®, will have well established procedures for this situation. While you’re cooking hot dogs by the fire, your property manager will handle the issue.
You can take a selfie with little Jimmy and a barrel cactus.
The tent goes back in the closet, and your son goes back to his video games. Instead of time with the family, you are off to change the locks on your rental home.
A property manager, like All County®, will have well established procedures for this situation. While you’re cooking hot dogs by the fire, your property manager will handle the issue.
You can take a selfie with little Jimmy and a barrel cactus.
3. Evictions
Do you enjoy taking time off from work to go to court? Ha! Didn't think so. Do you know the legal requirements and procedures for an eviction? Do you stay up with the changing real estate laws every year?
This is one big thing most landlords would like to pass on to the experts. A property manager has legal experts they work with, making sure that every step of an eviction is handled legally and with a minimum of problems. Then they’ll find you a new, highly-qualified tenant.
And you never have to see the inside of a courtroom.
This is one big thing most landlords would like to pass on to the experts. A property manager has legal experts they work with, making sure that every step of an eviction is handled legally and with a minimum of problems. Then they’ll find you a new, highly-qualified tenant.
And you never have to see the inside of a courtroom.
4. Neighbor Complaints
You’re at your day job, about to give a presentation in a big meeting. But your phone rings. It is an irate neighbor, the guy who lives next to the tenant in your rental property.
Apparently, your tenant’s poodle has been pooping in the neighbors yard. The neighbor is angry. He wants you to go talk to your tenant, NOW.
If we manage your property, this call would go to our office. All County® knows how to deal with neighbor complaints, and stops the neighbor feud before it gets out of hand.
You’ll be giving a great presentation at your meeting, never even knowing about your tenant’s poodle.
Apparently, your tenant’s poodle has been pooping in the neighbors yard. The neighbor is angry. He wants you to go talk to your tenant, NOW.
If we manage your property, this call would go to our office. All County® knows how to deal with neighbor complaints, and stops the neighbor feud before it gets out of hand.
You’ll be giving a great presentation at your meeting, never even knowing about your tenant’s poodle.
5. Weather Damage
A record-breaking rainfall hits Phoenix, and there is a foot of water in. your mother's living room.
But can you go help your mother? No. Why? There's 2-feet of water in your rental property, and your tenant can’t wait for help.
Your property manager will be on this in a second. we have vendors on-call to take tenant calls and immediately get out to the property to clean up the water and dry out the room.
You can go to your mother’s house and help her out.
But can you go help your mother? No. Why? There's 2-feet of water in your rental property, and your tenant can’t wait for help.
Your property manager will be on this in a second. we have vendors on-call to take tenant calls and immediately get out to the property to clean up the water and dry out the room.
You can go to your mother’s house and help her out.
6. Tenant Disputes
What happens when a married couple can't stand each other anymore and decide to split? It'll be u to you to know the law. is it okay to go change those locks? Who is responsible to pay for the rent? If you let them break the lease, then you have to go through the move-out, clean up, move-in cycle all over again. What are you legally responsible for?
Your property manager will have a real estate lawyer ready to address this issue. You won't have to worry about it.
You can have peace of mind knowing your property manager will take care of everything.
Your property manager will have a real estate lawyer ready to address this issue. You won't have to worry about it.
You can have peace of mind knowing your property manager will take care of everything.
7. Getting your Check
Perhaps the time you'll be happiest about hiring a property manager is when you get your monthly check. You'll know your property is cared for, your tenants are happy, and you're paying the mortgage on an investment property without having to answer the phone at 2 in the morning, or unclog a toilet when your family is supposed to be on vacation.
That check means you're paying your mortgage without having to be a landlord.
That check means you're paying your mortgage without having to be a landlord.
Summary
These are just some examples of things you might (and probably will) face when you try to manage your own property. Although a property management company will have some up-front costs, overall, you may end up spending no more than you would have in trying to do everything yourself.
And as illustrated in these examples, a lot of stress and effort will be avoided by hiring the right company.
Are you interested in what a Phoenix-based property manager could do for you? Call All County® Prestige today to get a free assessment of your investment property at: (602) 753-0333.
You’ll be glad you did!
And as illustrated in these examples, a lot of stress and effort will be avoided by hiring the right company.
Are you interested in what a Phoenix-based property manager could do for you? Call All County® Prestige today to get a free assessment of your investment property at: (602) 753-0333.
You’ll be glad you did!
