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One of the biggest questions that rental property owners have is this: Should I hire a property manager? While managing your own property can be very rewarding, it can be very exhausting as it will require you to devote a lot of time and effort. If your goal is to expand the business and to acquire more properties, your best option is to hire a property manager. In this article, we've gathered 4 practical reasons why you should get a property manager.
1. Hiring the right Property Manager generates more profit. Your property is a prized possession and a hard-earned investment that should yield the highest return possible. Because hiring a property manager may cost a few bucks, most property owners resort to self-managing to keep the expenses down. On the contrary, hiring a property manager will save you a lot! Licensed Property Managers are knowledgeable not just in selecting the right tenants who will take good care of your property, but they're also skillful in making sure that the right repairs and maintenance are done to keep your property in great shape at all times. 2. It takes away the hassle of dealing with tenants. Managing your own property means doing all the work on your own. From finding the right tenant for your property to imposing the agreement, you have to do it all. Not to mention that you have to collect rent payments, charge late fees, and deal with complaints from your tenants from time to time. In the long run, this can be a heavy source of stress, especially if you have a 9-5 job or another business that you also have to look after. Hiring a Property Manager will take these hassle away from you as your property manager will act as a buffer between you and all the stress of property management business while allowing you to enjoy the benefits of your investment, no sweat! 3. Your Property Manager will take care of the advertising and marketing of your property. Finding the right tenants for your property is a total headache, especially if you don't know how to market and advertise your property. While there are many self-help tips available on the internet, sometimes it just gets confusing. This is where Property Managers come in handy. Your property manager knows the nitty-gritty of the business. They are experts in knowing when and where to market your property for prospective tenants and they are also skillful in creating ads and campaigns that will get your property rented in no time. 4. Your Property Manager ensures you comply with Property Laws and Regulations. No one wants any entanglement with the law, right? However, if you need to keep track of your property rental on top of your 9-5 job or a business, we sometimes mess up without knowing! Property managers are experts in housing laws and local state regulations. This keeps us away from any trouble with legalities, from marketing your property until the tenant moves out. Getting the right property manager can be the best decision you'll ever make. Get in touch with Home Holders LLC today for a free rent/sales value estimate!
21 Comments
8/8/2019 07:11:15 am
You made a good point that when you hire rental property management you can do away with having to deal with the tenants. I've been wanting to rent out a second property as a way to get a little extra cash flow. Maybe a rental property manager could help me with dealing with and finding good tenants.
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9/5/2019 04:33:32 pm
Aloha,
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8/30/2019 02:24:52 pm
My husband and I are thinking about renting out a property we recently inherited, but we are unsure if we know enough about the process to handle it. I appreciate that you mentioned that a property management company can help find the right tenants, collect rent, and get all the agreements together and signed. I think it would be smart for us to hire a property management company to help with our rental so that we can make sure that everything is being handled and taken care of and so that we can be less stressed out about it.
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9/5/2019 04:43:26 pm
Aloha,
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10/3/2019 07:53:25 am
I like that you mentioned that working with a property management team ensures that you will get the best tenant possible. My mother is thinking of renting her house and moving to an apartment so hiring a property manager will make things easier for her. Thanks for explaining the benefits of hiring a property manager
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Erik Covarrubias
10/3/2019 12:56:44 pm
Aloha,
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Thank you for explaining that a property management company will be able to handle all of the tenants in your building. My sister owns an apartment complex and is needing help with the residents. I will suggest that she look into hiring a property management company.
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10/9/2019 05:11:31 pm
Aloha Jane,
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Thanks for elaborating on why we should hire a property manager. I didn't know that they also take care of the advertising and marketing of a property. It's also comforting to know that dealing with tenants is another one of their responsibilities because that's one of the things I wanted to avoid when I considered listing my house for sale. There's no doubt that I will be searching for these services soon. Thanks again!
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10/30/2019 04:23:16 pm
Hi Wade,
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11/15/2019 08:50:32 am
I was not aware that the knowledge of a property manager to select tenants will help you to save a lot of money. My mother is thinking about renting out her house, and we are looking for advice. I will let her know about the benefits of hiring a property manager to help her generate more profits.
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11/18/2019 01:26:41 pm
Aloha Ellie,
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11/19/2019 12:41:03 pm
It's interesting when you said that managing your own property means doing all the work on your own. My uncle owns a few apartments and he is now retired and he would like to enjoy his life with no worries. thanks for sharing this article, I will suggest to him to hire a property manager so that he can spend time with my aunt.
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11/21/2019 12:28:34 pm
Aloha Mr. McDoogle,
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11/29/2019 11:11:28 pm
Very great post.I simply stumbled upon your blog and wanted to say that I have really enjoyed browsing your weblog posts.After all I’ll be subscribing on your feed and I am hoping you write again very soon.
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12/10/2019 11:33:56 am
You made an interesting point when you talked about how a property manager creates a buffer between an owner and the people renting the property. My brother wants to buy an old apartment complex, and then rent it out for people to use. He's never really been the most extroverted person, so it seems like a property manager would be something that he would want to make good use of.
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12/11/2019 07:39:15 am
It's awesome that property management can help you collect rent payments. My brother has been telling me about how he'd like to make a little extra money on a monthly basis, and I think renting out his old house could help with that. I'll share this information with him so that he can look into his options for professionals who can help him with this.
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12/26/2019 04:51:03 am
I've been struggling because some of the units in my apartment building does not have tenants yet. Therefore, I've decided to start looking for a property manager. It's great to know that they are experts in terms of knowing when and where to market my property for prospective tenants.
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12/30/2019 01:52:11 pm
It makes sense that a property management company would help deal with tenants, as you mentioned. If I owned a property, I would invest in this. It would be so helpful!
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1/6/2020 01:35:15 pm
Thank you for the information regarding the benefits that come with hiring a property manager, and how they can improve the client’s business. I think that it’s important for the manager to help attract and identify possible tenants for the property. By finding renters and getting them to sign the paperwork to let them stay in the property, it helps the owner make money and provides a place for the renter to stay.
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1/7/2020 09:37:04 pm
That is so sweet!Blogs are very good way of exchanging the information and I love to read post why you should hire a property manager and sometime some blogs give me so much of knowledge and this is one kind of those blogs.
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