Sometimes we talk with property owners who are on the fence about hiring a property management company or managing the property themselves. The truth is your property needs a great property manager and landlord to be successful, and either that’s you the property owner, or it’s the company you hire, but there can only be one landlord and property manager.
Hiring other property management is not for everyone and here are nine reasons why you may not want to hire a company to do the work for you.
Number one, if you feel like you have to be involved with everything can’t let go of the details.
Number two, if you feel like you need to be the one who selects the tenant and who will do so objectively with a proven set of screening requirements using a consistent process.
Number three, if you live in the unit next door or upstairs, and will be interacting with your tenant on a regular basis.
Number four, if you have a plenty of time to learn, train, stay up-to-date on current laws, time to collect rent, inspect the property, and be available 24/7 for your tenant.
Number five, if you have property management and tenant retention systems and procedures in place.
Number six, if you have a bulletproof lease and a good landlord attorney on retainer.
Number seven, if you have vendors and contractors hired at reduced rates who give you priority over other clients.
Number eight, if you have the backbone to put yourself in difficult and uncomfortable situations when required.
And number nine, if you feel like your time is less valuable than the money you will save by paying a professional company to do the job. You see, most people who come to Keyrenter for management services have one of four concerns, and we call them the four Ts.
They don’t have the time, they don’t have the training, they don’t have … they don’t know how or want to deal with tenants, and they don’t want to deal toilets or repairs.
Similarly, people can save money by filing their own taxes, but why do so many people hire an accountant to do the job? It saves them money by avoiding mistakes and doing it right. It saves them time, reduces their risk, you name it, there are a lot of benefits of hiring an accountant.
There are also a lot of benefits of hiring a property manager when your time is spent … is best spent doing what you do best. But again, it’s not for everyone. Feel free to explore if property management and Keyrenter is right for you by scheduling a free discovery call with our team through our web site at keyrentersaltlake.com. We look forward to talking with you, take care.