Should I Hire a Property Manager?
We understand that having a property manager is not for everyone. The same way we understand that some investors would never think of not having one. The truth of the matter is that it’s not for everyone. Many thoughts and questions may go through your mind before hiring one.
I can be my own property manager.
It seems pretty easy. Put a sign out front, meet a few folks, find a lease from the internet, or maybe just have your tenants confirm an e-mail agreeing to the terms. (Yes, we’ve seen this!)
How hard could it be to manage my own property?
The truth is, if you have the time, a great property, a greater long term tenant, and you are local, you may not need a property manager. Members of our staff actually have relatives who manage their own properties. Family reunions are a blast, let me tell you! Regardless, it may still not be very efficient use of your time and money, as you may still not have the systems or vendors in place to maximize the income and potential of your property.
So, for those of you – strong willed, owners of your own time, and amazing DYIers, we salute you! If you do not fit any of the above criteria, and you are still with us, you…
- have already self-managed and are in over your head.
- are ready to enjoy your hard-earned money and sip cocktails by the beach at your favorite travel destination.
- may be in the process of buying your first investment home. This process can be stressful and hectic while trying to figure out how you are going to cover your costs and generate an attractive return. We can help you by providing an analysis of your investment before you buy the property, as well as tools to maximize your return.
- may be relocating and wish to keep your current home as a rental and future investment.
- know you need a manager, but recently had a bad experience with another property management company.
Confession
Now, we understand there are individuals who give our profession a bad name. We strongly believe they only make up a tiny fraction of the overall great group of companies in our industry. Companies who strive to do a great job for their clients and tenants every day. We know not everyone is perfect, and mistakes may happen. After all, most property owners hire property managers because they have already realized it is not an easy job and there are tons of variables to handle. These variables include rent collection, vendor selection, and scheduling of repairs, all while keeping detailed records of income and expenses.
We Believe
In essence, we believe great property management companies are made by combining proven systems with dedicated professionals, who are committed to delivering excellent service to owners and tenants. The systems keep order and consistency, but our people are what makes the experience shine for our clients and customers. Setting the right expectations from the very beginning is the key to success in establishing a strong relationship between the property owner and property management company.
After years in the business, we have realized that our strongest attributes directly benefit clients who experience the types of dilemmas listed above. It’s important to understand your needs and wants prior to hiring a property manager. We also find that clients who don’t have a high need or desire to be involved in the day to day operations of their property are the ones who find the most value in hiring a property management company. Value your time!
Find out how Belmont Management Group can help you meet your real estate investment goals.
