Using a property manager
usually increases NET rental income.
Experience indicates
that property managers charge "market rent" and
therefore attract and qualify better residents.
Management fees are tax
deductible but a Landlord's time when self-managing
their own property is not.
Property managers are
aggressive in rent collection, we are less
sympathetic to a tenant's monthly excuse.
Think about the cost of
your time and what it takes to manage a "difficult"
tenant and maintain the property.
I'll lose control of my
property
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Most property managers
will be able to anticipate the potential for many
rental property problems.
Experienced property
managers have handled many tenant issues before and
can work with owners and tenants to resolve
difficulties.
Salefish Propertiesprovides copies of all bills each month related
to your property and communicates large repair and
maintenance so here are no
surprises.
I
won't be able to use my own repair
companies
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Property managers are
often willing to use owner designated or repair
personnel familiar with the rental property.
In many instances, when
repair personnel utilized by the owner are
unavailable, the property manager can utilize their
own vendors and ultimately save the owner money.
In reality, service
personnel would much rather work with a professional
property manager familiar with their services than
deal with individual
owners.
I think I can get
better tenants
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Visit a few tenant
"gripe" sites on the web and you will read what
tenants really think about non-professional property
managers.
Rental property owners
often manage by the "wish/hope" management
theory-they wish their tenant would pay their rent
and hope that they don't destroy the property.
A professional property
manager has the tools at hand to screen and qualify
good tenants willing to pay market rent for the
rental
home.
Managing my own
investment property is easy
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Unlike many investments,
the ownership of rental property is governed by many
laws and regulations. The federal government not
only has tax regulations, it also has fair housing,
lead based paint and other onerous regulations that
apply to rental property.
The state may also
impose more fair housing regulations as well as
landlord-tenant laws and regulations to govern the
relationship.
Learning all these rules
and applying them properly is very time consuming.
Keeping current with
these various rules and regulations is onerous and
not knowing items and procedures are required can be
costly in the long run.
Managing your own
investment property is time-consuming! Do you have a
full-time job? Are you readily available for the
repair company to oversee their work? How would you
handle
evictions?
