Some owners of rental properties may be unsure of whether or not they require the services of a professional property manager. When making this important decision, there are a number of factors to consider.
First of all, owners should consider the distance they live from the rental property. In some cases, it is convenient for owners to go to the property and make the many necessary visits to perform maintenance and resolve issues that arise. However, frequent trips to the property are often inconvenient and time-consuming, especially those that occur in the middle of the night. If this is the case, hiring a property manager can be a particularly good decision, and the owner can go on to make better use of his or her time.
Additionally, owners should consider their ability to handle the stress of dealing directly with renters and the problems that can arise, such as disputes over rent, property damage, and violations of lease terms. A property manager is equipped with the necessary tools to deal with these difficult situations and matters. As can be imagined, some of these situations can get very confrontational, many property owners are better off leaving them to those with substantial experience in handling such matters.
Other considerations include but are not limited to: knowledge of applicable legislation, access to collection tools and agencies, and professional leasing agents and contractors who can respond quickly in the event of an emergency.