When Is The Right Time to Hire a Property Management Company?
As a landlord of one or several properties, you might ask yourself, do I need to hire a property management company? Tampa property management companies are an immense help to landlords. They deal directly with tenants and prospects, saving you time by collecting rent, receiving and responding to complaints, taking care of maintenance and repairs, and handling evictions. Management companies have the experience and ability to run your properties smoothly and efficiently, leaving you stress free.
Once you determine you need the assistance of a Tampa property management company, you might wonder when the right time is to make the switch.
ACQUIRING MULTIPLE UNITS?
If you find yourself acquiring multiple properties or rental units, we recommend transitioning to a management company. Balancing more than one property at a time is very time consuming, and hiring a management company can lessen your workload.
ARE YOUR PROPERTIES AN INVESTMENT?
If you have plenty of time as a landlord to take a hands on approach, hiring a management company might be not be for you. However, if you are viewing your properties as an investment, if you work a full time job in addition to being a landlord, or if you simply have too much on your plate, hiring a management company will make your investments more manageable and help keep tenants happy.
COMMUTING TO PROPERTIES?
For landlords that don’t live near their rental properties, reducing the commute back and forth to deal with day to day issues will make hiring a property management company highly beneficial.
MANAGEMENT COMPANY VERSUS MANAGER
Resident managers are another option for landlords to help them manage properties. However, if your main goal for your properties is to be an investment, and you don’t want to be an employer, that might not be the right fit for you. Employers have to take care of things like payroll and legal requirements, but if you hire a Tampa property management company, they take care of all that and more. Management companies are not considered your employee, they are an independent contractor, so you have everything taken care of for you, without worrying about administrative duties.
Here at Wise Property Management, we have been serving our community and meeting property management needs since 1981.
To learn how we can assist you, please contact us today at (813) 968-5665.