It’s a very good question isn’t it? There are many businesses out there that sell property but don’t offer Property Management services. Some businesses say they will manage the property but expect the customer to do all the work fixing any issues. Perhaps these businesses should more accurately be called Rent Collectors.
The fundamental problem with those approaches is quite obvious I think. There has to be a certain lack of confidence with the quality of the final product. Why else would someone sell a property and not provide a Management service to back up a landlord’s long term plan?
A landlord puts a substantial sum of money into the property purchase and the main aim revolves around building wealth for the future. Whether that ends up creating an income stream or a capital gain when it’s sold is neither here nor there. A profit is the end result. So with so much riding on the property it seems odd that Property Management is not high on the list of Sales People or Developers.
There is so much more to an investment property purchase than having the money to buy it. Landlords are bound by legal responsibilities that can be confusing for anyone not familiar with them. Even inspecting the property can violate the tenants’ rights if the correct notifications are not given for example.
You know, I’m sure you will be much more comfortable knowing that if the phone rings in the middle of the night it will be your Property Manager picking it up rather than you. Dealing with tenant questions after they move in and co-ordinating repairs for faulty items, collecting the rent and paying the bills are all important issues to be dealt with. After all, having a tenant as quickly as possible is crucial to the bottom line.
Too often though, the Landlord is left to deal with problems when simply appointing an efficient Property Manager could so easily take care of the headaches. It’s more cost efficient for a Property Manager to service your property portfolio than it is for you. If you free up your own time what would you do with it? Perhaps spend more time with your family; maybe do some study to improve yourself. Life isn’t always about saving money. Sometimes it’s more important to buy some time for yourself and using a Property Manager is a great way to start.
In the end, what is your time and peace of mind worth?
For your own peace of mind, separate your investment world from your private world by using a Professional Property Manager. To find our about how the Investors Direct Property Management team can help you visit our website or contact us at firstname.lastname@example.org