If you are considering renting out a property or if you currently manage your own property think about hiring a property manager. Real estate is one of the best investments in our economic and political climate, so leave your investment in the hands of professionals. They will take care of time consuming tasks and ultimately shorten the length of time tenants aren’t living in your home, thus increasing your return.
It’s time to sit back and earn passive income. We’ve debunked 5 myths about property management.
Myth #1: I can do a better job managing my property.
You wouldn’t represent yourself, so get the invaluable perspective and support of a professional. They will take care of aspects you probably didn’t think about and they may even increase the value of your property. Simply put, it’s their job to know the market trends and know how you can reach your investment potential.
Myth #2: My home will be damaged by renters.
Management companies have a pool of renters, so they can weed out the best possible tenants for your home so there is minimal to no damage. They also can make regular inspections to make sure the resident is following the lease terms. They have experience, which allows they to detect minor problems from turning into bigger issues.
Myth #3: Finding good tenants would be easy for me.
Property managers always go through an in-depth process to find tenants. Do you have standards that select candidates based on Federal Fair Housing and HUD? Or performing credit checks, background checks, employment verification, or researching past evictions? Probably not. The right property managers know every precaution to take to give you the most qualified renter. It’s best not to test your luck.
Myth #4: It can’t be that hard to manage my own property.
True, there may be some parts that are easy, but all of it combined can be a lot of work. Are you ready for dealing with late rent payments, angry tenants, late night calls, and other daily issues? A property manager is there to relieve the stress all of these activities incur.
Myth #5: I can’t afford a property manager.
If this is a thought that has come to your mind then think about how much time a month you put into your property and how much your time is worth. Chances are your time from things you enjoy is being taken away by your tenants needs. Ultimately, they will decrease vacancy, answer those late night calls, and they may even have vendor relationships to get discounted repairs.
Contact SOS Management & Property Services
Local: (858) 273-8800
