Should you hire a property manager or manage things yourself?
Now that you have a property to rent out, should you hire a property management company, or should you manage it yourself? We’ve heard this question floating around lately, so we want to share our answer. Here are the top three reasons why you should use a property management company instead of self-managing:
1. Consider the long-term costs. Self-managing doesn’t have any fees involved. It’s easy to think that you can save some money by managing yourself and not paying a management company. While we only charge 7.9% for our management fee, self-managers often have rents that are below market rent. If you’re around 10% below market rent and you hire us at 7.9%, we’ll end up making you money. You just have to ask yourself, what’s your time worth?
2. Increased maintenance costs. People often want to self-manage because they can go out to the property and fix things on their own. They don’t need a management company to coordinate a contractor and then add a fee on top of that. We don’t do maintenance upcharges for calling out plumbers, electricians, or landscapers. That’s a call we make to get it taken care of so that you aren’t losing more money.
3. Pet protection guarantees. We have a $5,000 pet protection guarantee to protect you on top of the security deposit. We’ve all heard horror stories of pets going into properties and tearing things up and costing you thousands of dollars, so people will often just say no pets on their property. We didn’t want to cut out the 80% of the population that has pets, so we make sure that your property is accessible to everyone and protected.
If you ever have any questions or concerns about renting your property, please don’t hesitate to reach out to us by phone or email. We’d love to hear from you and help you.