Property managers play a very important role when it comes to managing the day-to-day business of your real estate investments.
They take care of things like marketing your rentals, screening tenants, rent collection, tenant requests, maintenance and repairs, and more. This opens up your time for you to focus on your next investment project and gives you peace of mind knowing your business is being taken care of around the clock.
But how do you know when to hire one? Here are the 5 top signs it’s time to hire a property manager.
1. You Have Too Many Rentals To Manage On Your Own
You’re growing your portfolio, which is great! But you may find that it’s getting harder to keep up with them and you’re starting to feel overwhelmed. In order to manage all your duties and responsibilities at the high standard you’ve promised, hiring a property management company is a good idea.
2. You Have Too Many Rentals To Manage On Your Own
These days you can buy properties across the country from the comfort of your laptop. You might want to do this to diversify your portfolio and take advantage of promising opportunities. Having a property manager to take care of emergencies and tenants when you can’t get to them is a priceless service for situations like this.
3. You Need To Free Up More Of Your Time
Maybe you’d like more time to spend with your family, or you’ve been starting to feel burnt out, or you just want to go fishing at the cottage more often. A property manager can make it happen.
If you start feeling like you’re pushing away the very things you decided to start investing for, you know something has to change. A property manager will give you your time back so you can focus on what really matters to you.
4. You Don’t Like Being A Landlord
Being a landlord comes with its own set of responsibilities outside of investing. You may not enjoy it, and maybe you just want to focus on investing. That’s where a property manager can help.
5. You’re Willing To Invest in Convenience
Working with a property manager is an investment in your time and the wellbeing of your property. Over time, having a property manager can actually reduce your overall management costs and keep your units full so you can make more from your properties.
Do you own rental buildings and need a Sudbury-based property manager?
We’re a full service, Greater Sudbury area property management company with the knowledge and experience to handle everything from multi-family buildings, to townhome rentals, to single apartments or single-family rentals.
Contact us here and let’s see how we can help!