When to Hire a Property Manager

So you have bought your first rental property and fulfilled a life-long goal of doing so. Congratulations! Many people who own rental homes often times will manage them by themselves. People who live nearby their rental home(s) may not feel they necessarily need to hire a property manager to oversee their rentals if they live nearby specially if they are handy with repairs. However, many landlords do not live near their rental portfolios and often times they live out of state.

This can make managing a rental home (or 2, 3, or more) very challenging to say the least. As a general rule, if you live more than two hours a way from your rental/investment home, you may want to consider hiring a property manager to take care of your investment. Whether we want to admit it or not, issues just come up with homes and with tenants and if you can’t respond in a timely manner to an issue, your tenants won’t be real pleased.

Also, if you live out of state or hours away, realistically how often are you going to be able to even drive by the property to get an eye on the exterior, the yard, the parking situation, etc? In addition, if you are not very handy with repairs, you may find yourself getting frustrated with trying to coordinate with contractors and your tenants, which can be time consuming.

Mark Phillips of Hill Country Flat Fee Realty has recently launched a new Property Management company, 830 Property Management. 830 PM serves the Texas Hill Country communities of Boerne, Fair Oaks Ranch, Bulverde, Spring Branch, Comfort, New Braunfels, Kerrville and parts of San Antonio. Feel free to visit 830 Property Management’s website of www.830management.com.

For more information on when and why to hire a property manager to handle your real estate investment homes, here is a great read published by Realtor.com:

Read the Original Article Here: Calling All Small Landlords: When Does It Makes Sense To Hire a Property Manager?