There are two sides to every debate. For some reason, the world of real estate investing is full of debates. One of the more common debates is whether to hire a dedicated property manager. In a perfect world, every landlord would have someone to run their property. As much as there is a definite benefit, there is also a cost associated that can’t be ignored. Property managers often make 10% of the monthly rent. Without significant cash flow, this can be a sizable reduction in the bottom line. On the flip side, imagine not having to deal with constant phone calls, maintenance requests and filling vacancies at the end of every lease. It would probably free up valuable time to spend in other, more pressing, areas of your business. Property management isn’t a slam dunk on every rental, but something to at least consider. Here are five reasons to consider hiring a property manager.
If your property is becoming a burden you need to think about hiring a property manager. The most valuable asset you have is time. If it is not being used properly, nothing else really matters.