If you’re thinking of investing in an out-of-town property, consider hiring a professional property manager. Property Management by Penzone will be your eyes and ears. This is great, because long-distance landlording is not very much fun. It is known, professional landlords find, hiring a property manager to oversee their rentals will enable them to invest in more properties. This will help property owners to maximize their return of investment.
Keeping on top of rental maintenance is very important for any single-family home owner. Property Management is not exactly something most people enjoy because being on call 24/7 for any repairs and maintenance issues is tiring, even for the most resilient landlord. If you are cleaning, painting and doing small plumbing jobs, it’s not so bad for the first couple of rental homes. What about when you’ve got a few rentals to manage? This is when hiring a property manager becomes a great idea Those mini-jobs escalate into a full-time job but you can offset that to Penzone.
Ask yourself these questions below to help determine if Penzone Property Management is a good-fit for your organization:
- Do I have time to manage my property?
- If you do not like to answer your phone to deal with a maintenance call, perhaps it’s time to outsource.
- Do I want to expand my rental property portfolio?
- Do you have a goal to own five, 10 or more rental properties? If so, consider Penzone!
- Will I invest in markets outside of my local area?
- Being a long-distance landlord can bring its own set of unique challenges
- Will a property manager help me be more profitable?
- Yes. The more properties you own, the more profit. If you have just one or two properties, you will not make as much money as you could.
First-time landlords will certainly benefit from the savings of doing their own work. Still, for experienced landlords, offloading the day-to-day tasks to a professional is something that makes sense because it allows them to reclaim time and focus on growing their investments.
Here are a few questions you should ask a potential Property Management company (like Penzone!):
- How much experience do you have?
- How do you structure your fees?
- Are there any fees when the property is vacant?
- How do you screen tenants?
- What’s your average vacancy rate?
