Landlords Anonymous

Should I use a Property Manager?

Are you trying to figure out if you’re going to be the “Do It All Landlord” or the “Sit back and Call the Shots Landlord?” The answer to this question directly depends on the thoughts, feelings and drives of the individual. There are many pro’s and con’s to each side of this coin for instance:

If you manage your own properties you:

• Save More Money
• Have first hand knowledge of each and every situation that might come up
• Get to know your tenants better
• Don’t have to worry about trust issues between yourself and your property manager
• Can keep a better eye on your properties and not rely on the word of your property manager about their condition

If you hire a property manager:

• You have more time freedom to do the things you want or need to do that managing properties normally takes up
• You have less headache and frustration from dealing directly with your tenants needs, wants & desires
• You don’t have to worry about making repairs yourself and rely on the property manager to worry about upkeep
• You don’t have to be the “Bad Guy” when it comes to evicting tenants anymore

There are a lot more reasons to hire or not to hire a Property Manager and there are extensive books written on the subject. I highly recommend reading the book “The ABC’s of Property Management” by the Robert Kiyosaki “Rich Dad” team. It’s a very insightful book that is definitely worth it’s weight in gold. I have read and recommended it to many others who have found it very helpful in the past when they too were contemplating the subject. Let me know what you think about it!

Sunday, October 18th, 2009, by Jake and is filed under "Handling Tenants ". You can leave a response here, or send a Trackback from your own site.