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Do It Your Self Or Property Manager Route
“Why hire a property manager to manage my rentals when I’m perfectly capable of doing so myself?”
This is a common sentiment among inexperienced and experienced rental property owners alike, and one that looks at the value proposition of property management companies in entirely the wrong way. While it’s true that many rental property owners can take care of their units without professional help, that doesn’t mean they should.
Beyond the value property managers provide by freeing up their customers’ time to do other, more pleasant things than managing their rental properties, they bring to the table the expertise and experience they’ve accrued from managing hundreds of units over many years. This allows property managers to perform vital and often costly tasks, like finding new tenants and evicting non-paying or uncooperative tenants, in a far more inexpensive and time-efficient manner than what the rental property owners they serve can do.
Here’s are two examples of the benefits property managers’ expertise and experience provide:
About 88 percent of property managers are consistently able to find new tenants for the rentals they manage in four or less weeks - and thereby greatly mitigate the loss to their clients’ rental incomes. In comparison, only about 58 percent of all rental property owners are able to accomplish this feat. Similarly, almost half of all property managers are able to consistently find and prepare rental units for new tenants for less than $500, while only 25 percent of all rental property owners are able to accomplish this.
Property managers are also much better equipped to handle evictions than rental property owners. 49 percent of property managers are consistently able to evict non-paying or uncooperative tenants in a month or less, while only 17 percent of rental property owners can do so. Even more impressive is the fact that almost 70 percent of property managers are able to keep eviction-related costs (lost rent, unit repair, legal costs, and the like) under $2,000, while only 31 percent of rental property owners can do so.
All Property Management can find you a qualified manager just about any place you have rentals. They helped me - call them 877-215-9182
With more than a decade of experience, LaDawn enjoys educating first time home buyers, working with the 55+ community, relocation clients, sellers who want to downsize, step up purchase or anything in....
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