There’s no way two ways about it: paying a property management group to maintain your home carries a financial cost. In an effort to save money, many property owners try their hand at managing their property without the help of an outside management company. While this arrangement works for experienced landlords with the time necessary to run a busy rental business, many other property owners ultimately find DIY management a stressful and expensive endeavor. Before you jump in head first, consider the following essential requirements of effective management.
Keeping a rental property in prime condition is no easy task. From addressing the day-to-day maintenance needs of the home to answering repair calls promptly, a property manager needs to remain on call around the clock. While some problems can be dealt with when time allows, challenges like plumbing issues, appliance failure, and property damage often cannot wait. Do you have the time to commit to responding to problems whenever they occur? If not, you may find managing a property alone difficult.
Are you a marketing professional with access to cutting-edge techniques to help you find the right tenants for your property? If not, dealing with a vacancy can quickly become an expensive headache. Not only does an empty rental cost you money for every day it sits on the market, but purchasing ads, investing in marketing videos, and showing your property can add up quickly. Don’t feel ready for the undertaking? A dedicated property manager makes it easy to attract well-qualified tenants.
Don’t get lulled into a false sense of security and think that managing a home rental is easy. Staying abreast of the latest updates to local ordinances and housing codes is tricky business. Furthermore, as a landlord, you need to ensure you meet regulatory requirements for your insurance policies. Accounting, evictions, inspections—nearly every task you’ll undertake as a landlord requires strict adherence to the legal guidelines in place. A single misstep could have catastrophic repercussions for your business, with pricy lawsuits and financial penalties cutting into your profits.
Still on the fence about whether or not to manage your own property? Why not experience the Nest Finders Property Management difference. At Nest Finders Property Management, we don’t simply management properties; we manage relationships. We handpick our clients, choosing landlords who want to offer a superior experience and reap the rewards of a well-maintained property. By partnering with our experienced team, you’ll never have to shoulder the burden of responding to a late night repair request, sift through the huge pile of tenant applications, or handle a housing complaint again.
Learn more about the Nest Finders Property Management difference. Call us today to schedule an appointment.