Do you need a property manager? Ask yourself the following questions:
- Do you have experience managing rental property yourself?
- Do you want to leave your property, concerned that it might be vandalized or broken into without consistent occupancy?
- Do you have time to clean your property between each guest or the time and funds to manage a cleaning service?
- Are you familiar with fair housing and landlord/tenant laws in the jurisdiction(s) where your property is located?
- Do you have relationships with contractors that ensure you can get 24 hour service at reasonable prices?
- Do you have a reliable means to determine fair market rent and returns on your investment property?
- Do you know and have the proper notices and legal process to deal with non-paying tenants?
- Do you have a current, professionally crafted lease, rental agreement, and related agreements/forms to minimize your exposure to liability should a tenant sue?
If you answered “no” to any of the above questions, it might be prudent to hire a professional management team. Contact us today to help you avoid the pitfalls of rental property ownership.