When You Should Hire a Property Management Company

AdobeStock_78873258Hiring a property management company can be one of the best decisions you could make for your business or rental property. Working with the likes of Beth Palmer at Property First Inc. is a sure-fire way to know that your Florida property is being taken care of and managed properly.

But before hiring the services of a property manager like Beth Palmer at Property First Inc., it’s important to know whether or not you’re truly in need of a property management company.

You can try to manage properties on your own, but this can require a lot of time and resources. Does all the work involved with being a landlord have you questioning whether or not a property manager would make life easier for you? To help make things a little clearer, here’s how to know if you should hire a property management company.

First, it’s important to know what project management companies do. They deal directly with tenants and prospective tenants, saving you the worry of having to market your rentals. Property managers will also collect rent, handle maintenance and repair issues, respond to tenant complaints and pursue evictions.

Sound good so far? Here are some other things to consider when hiring a property management company.

Number of properties: The more properties you own or rent, the harder it can be to manage them all. More properties also make it more likely to benefit from a property management company.

Location: If your rental property is far away from where you live, it can be a hassle to manage it. Hiring a nearby property management company makes a lot of sense if this is the case.

Handiness: Are you good enough with your hands to do most of the maintenance and repairs for your property or properties on your own? If so, that’s great and can be an affordable way to get some work done, but if not, a property management company can ensure that handy work is done correctly and efficiently.

Time restraints: Just not sure if you have the time to manage your own property? Managing a property can be like having another full-time job. Leave it to the professionals of a property management company.

Affordability: Property management companies aren’t often cheap, but if you can afford it they can be well worth it. The cost of your property management should be factored into the expenses of your investment as a landlord.