Pedro Cedeño, Lic. Real Estate Agent, Real Property Management Dade – Miami, FL
If you’re a landlord, chances are you’ve asked yourself “should I hire a property manager?” Maybe you fall into one of these categories;
The Accidental Landlord: This person may have received a job offer in another state and would rather rent out their home as apposed to selling. Or possibly inherited a property from family member. One way or another, this person is dealing with a new and unexpected responsibility and it could be frustrating. Relying on friends and family could strain the relationship. Worse still, put someone in a situation that may have legal consequences. Accidental Landlords value their time but are not able to take on all of the responsibilities of managing a rental property. Eventually, Accidental Landlords are faced with the question “should I hire a property manager?”. They soon realize that hiring a good property manager isn’t a luxury but a necessity.
The Investor: Seasoned investors already know what aspiring real estate investors soon find out – the value of a good property manager. The Investor knows that his or her time is better served on more important things such as looking for their next investment property. Possibly focusing on their career is more important or spending time with family. All of these are things that folks would rather do than plunge toilets and deliver eviction notices. But The Investor also realizes the advantage and insight a quality property manager brings to the table. Property managers don’t only handle the mundane tasks but provide valuable tools that help get places rented faster, to better tenants, which puts more money in their pockets. Investors realize that hiring a professional pays for itself and many times over when all is considered.
The Professional: This person may live near their rental property but doesn’t feel the need to handle every aspect of managing it. They are confident in their ability to research and select a good company with good people and a customer-centric services at fair prices. They value their time and understand they earn much more in their primary line of work. The Professional would much rather invest 5 minutes in reviewing a Property Condition Report with pictures from their property manager than spending an entire weekend driving back and forth to Home Depot in an attempt to save money on labor.
The DIY’er: The Do-It-Yourself’er would invest a great deal of time and energy figuring out how to lease and manage their rental property, and that’s okay. Lots of people can effectively learn how to find tenants, draft or download a residential lease, research up-to-date landlord tenant laws and make or coordinate and oversee repairs. Everyone has different priorities and some folks even enjoy it! Often, DIY’ers’ priorities change and they turn into Professionals or even Investors. They realize that their time is much better spent in other areas of their lives.
Are you an Accidental Landlord, Investor or Professional? A DIY’er maybe? If so, ask yourself again; “should I hire a property manager?” If you own a rental property in Miami we may be able to help you – even if it’s just to give you some friendly advice. Fill out the form on this website, and we’ll be happy to contact you at your convenience.