When is it Time to Hire a Property Manager?
Residential Property Management

When is it Time to Hire a Property Manager?

Deciding whether to hire a property manager can be a difficult decision for property owners. Many believe that managing their property on their own is the most cost-effective and reliable way to do so. However, professional property management services often provide numerous benefits that can offset the fees associated with their use, such as increased revenue, more efficient maintenance, and peace of mind. In this article, we will explore factors to consider when deciding whether to hire a property manager and how our company, Gordon James Realty, fits the recommended criteria.

Factors to Consider When Hiring a Property Manager

1.    Your proximity to the property

If you live out of town or even out of the country, managing your property can be extremely challenging. Screening tenants, overseeing repairs, and ensuring your property is being properly cared for is difficult when you're hundreds or thousands of miles away. The cost of travel can easily exceed the cost of hiring a professional management company.

2.    Your available time

Before deciding to hire a property manager, take a close look at your schedule and commitments. If you find it difficult to balance your career, family, and social life while managing your property, it may be time to consider hiring a professional. Property management services can handle time-consuming tasks, such as showing the property, responding to emergencies, and overseeing repair work.

3.    Your knowledge of local landlord-tenant laws and regulations

Failing to obtain the proper license, omitting important lease clauses, or not following the proper process for an eviction can all cost landlords money or even result in lawsuits. Licensed property managers have experience dealing with all the ins and outs of local regulations and must be well versed in all applicable local, state, and federal laws, helping owners prevent legal problems.

4.    Your experience with tenant screening

There's much more to finding a reliable tenant than placing an ad on Craigslist. Many property management companies can handle every aspect of preparing, pricing, and marketing your unit to attract the largest pool of qualified candidates and command the best rental price. Professional management companies have the resources to perform thorough credit, background, and criminal checks to ensure your tenant will be a responsible rent payer who takes care of your property.

5.    The number of properties you own or plan to expand

Owning multiple investment properties can be a great way to accumulate wealth. But unless you're a full-time landlord, the work and time required to fill vacancies, enforce multiple leases, and maintain properties can become overwhelming. Property management companies can handle all the day-to-day tasks and help you maximize your investments.

6.    Your customer service skills

Remaining friendly and professional when faced with tenant complaints or demands isn't always easy, especially when that person is living in your home. A professional manager can be a buffer, calmly dealing with any problems and handling tasks that some owners find awkward, such as enforcing lease rules and timely rent payment.

Remaining friendly and professional when faced with tenant complaints or demands isn't always easy, especially when that person is living in your home. A professional manager can be a buffer, calmly dealing with any problems and handling tasks that some owners find awkward, such as enforcing lease rules and timely rent payment.


Consider Gordon James Realty for Your Property Management Needs

At Gordon James Realty, we understand that managing rental properties can be challenging and stressful, especially from a distance or when you have a busy personal or professional life. Our property management services are designed to save you time, money, and headaches, while increasing your revenue and minimizing your costs.

We offer a full suite of property management services, which can be customized to meet your specific needs and those of your property. Our team of experienced and licensed property managers can handle all aspects of managing your property, including finding and screening tenants, preparing and enforcing leases, handling maintenance and repairs, collecting rent, and complying with all federal and local Fair Housing laws and regulations. We also use the latest property management software to provide you with real-time access to your property records and financial statements, so you can stay informed and in control of your investment. And our fees are often tax-deductible, making our services even more affordable. Whether you want to be involved in every aspect of managing your property or prefer a hands-off approach, we can provide you with the management experience you prefer. To learn more about our services and fees, contact us today.

Property Manager
Gordon James Realty
Residential Landlords
Commercial
Community Management

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