Hiring a professional property management company in South Jersey is always a good idea because there are a number of benefits to professional management. However, lots of landlords are comfortable managing their own properties, and they aren’t sure if a professional manager is really necessary.
Today, we’re sharing the five signs that it’s time to hire a professional.
Hire a Professional When You Have a Lot of Properties
If you’re renting out an entire portfolio of rental properties, you need to have those assets managed professionally. Taking care of things on your own may be fine if you only have one or two homes to rent out, but with several properties and a lot of tenants, you’re going to have more issues that need your attention. Hiring a professional South Jersey property management company with a full staff and a lot of experienced managers, administrators, bookkeepers, and leasing agents will make your life a lot easier.
Hire a Professional When You’re Far From Your Property
A lack of proximity is also an excellent reason to hire a professional. If you live out of state or even out of the country, it’s going to be extra difficult to monitor maintenance and anything else comes along. You will have residents, neighbors, and vendors who may need your attention, and if you’re more than half an hour away, you’re going to have a hard time being responsive. You’ll want someone local who can get over to the property quickly and conduct regular inspections to make sure it’s in good condition.
Hire a Professional When Time is Limited
A lot of the owners we work with simply don’t have the time to manage their rental properties. Maybe you can find the hours if you’re only renting out one home. But, if you are juggling more than one property, it’s going to require the same amount of hours as a full or part-time job. If you don’t have the time to devote to it, important things may get missed.
Hire a Professional if You’re an Investor
You can definitely benefit from professional property management when you buy rental homes as investments. If you’re the type of owner who wants to invest in real estate and you’re not interested in getting your hands dirty and coordinating maintenance and move-outs, you will need a professional. When the income stream is your most important reason for investing in real estate, you want a professional who can handle the ins and outs of rental management and all the duties that come with it.
Hire a Professional for Help with Government Programs
If you’re taking part in a governmental affordable housing incentive like Section 8 or a Social Security benefit, you really need help navigating the process and the paperwork. When you’re purchasing properties under these programs, we recommend hiring a property management company. There are a lot of layers to voucher and housing assistance programs, and it’s a lot more than simply handling the day to day management of a home. Extra care will be required for qualifying residents, keeping careful accounting records, and all the laws and requirements that come with affordable housing programs.
These are the five signs that you need to hire professionals. If you see yourself in one or all of these, please contact us at Realty Solutions. We’ll answer all the questions you have about professional property management in South Jersey.